Abstract
Research Overview
Frost & Sullivan's Medical Devices Financial Benchmarking and Analysis (FBA) service presents a broad financial outline of the medical devices industry, highlighting major market and financial trends in key growth segments. It provides a comprehensive financial analysis of leading medical devices firms to support the investment and financial analysis needs of decision makers in the marketplace. The current study within the service focuses on the following key growth sectors of the North American Healthcare Equipment Financing and Leasing market: small ticket, middle market, and large ticket.
High Levels of Debt in Hospitals' Capital Structure
Hospitals, the key end-users for healthcare equipment, have substantial levels of debt employed in their capital structure. An analysis of their financials revealed that they recorded a long-term debt to equity ratio of 1.3x for the year 2005, compared to an average long-term debt to equity ratio of 0.4x for the healthcare sector as a whole. Such high levels of leverage highlight the need for off-balance sheet financing and the potential leasing opportunities present within the healthcare space.
Healthcare Vertical One of the Fastest Growing in the Leasing Industry
Leasing as an alternative financing option is increasingly gaining popularity. This is evidenced by the fact that, at present, approximately one-third of all capital spending in the U.S. is financed through leasing. The healthcare vertical is one of the fastest growing sectors in the leasing industry, with diagnostic imaging equipment representing a majority of the healthcare leasing market. Various factors, such as the increasing demand for healthcare information technology, an ageing population, highly geared hospitals, and rapid technological advancements are driving growth in the healthcare leasing market.
Benefits of the Service
- Comprehensive industry mapping of public and private companies
- Growth opportunities for public and private companies
- Comprehensive financial benchmarking
- Fundamental industry data and tracking
- Proprietary industry research on select markets
- Valuation and financial metrics
- Global coverage
- Confidential analyst briefings on research findings
- Unlimited analyst access
- Quarterly and ad-hoc research services
- Workshops, seminars and briefings to supplement the value of the written work
- Ability to provide input on the topics addressed and researched as part of the service
What's Included
- Market dynamics
- Industry economics
- Competitive profiles of leading participants
- Investment themes
- Sector scorecard
- Growth monitor for about 20 companies
- End-user financial analysis by groups (hospitals, home healthcare, medical practitioners and long-term care facilities)
- Historical mergers & acquisitions for 5 years
- IPO analysis for the period 1994-2006
Table of Contents
1. Executive Summary
- 1. Executive Summary
- 1. Executive Summary
2. Introduction and Methodology
- 1. Introduction
- 1. Introduction
- 2. Methodology
- 1. Methodology
3. Investment Analysis and Growth Opportunities
- 1. Market Overview
- 1. Introduction
- 2. Segmentation
- 2. Industry Fundamentals
- 1. Industry Economics
- 2. Industry Economics (Continued)
- 3. Competitive Profiles
- 3. Investment Analysis and Growth Opportunity
- 1. Investment Themes
- 2. Sector Scorecard
- 3. Frost & Sullivan Growth Monitor
4. Financial Benchmarking and Valuation
- 1. End-User Group Analysis
- 1. Hospitals
- 2. Home Healthcare Facilities
- 3. Long-Term Care Facilities
- 4. Medical Practitioners
- 5. Conclusion
- 2. Valuations
- 1. Mergers & Acquisition
- 2. IPO Analysis
List of Figures
SEGMENT 3
- Healthcare Equipment Financing and Leasing Market: Equipment Leased (North America), 2005
- Healthcare Equipment Financing and Leasing: Company Profile GE Healthcare Financial Services (North America), 2005
- Healthcare Equipment Financing and Leasing: Company Profile CIT Group, Inc. (North America), 2005
- Healthcare Equipment Financing and Leasing: Company Profile Bank of America Corporation (North America), 2005
- Healthcare Equipment Financing and Leasing: Company Profile Citigroup Inc. (North America), 2005
- Healthcare Equipment Financing and Leasing: Long-Term Debt-Equity Ratios of End-Users (North America), 2001-2005
- Healthcare Equipment Financing and Leasing: Sector Scorecard (North America), 2001-2005
- Healthcare Equipment Financing and Leasing: Growth Monitor (North America), 2001-2005
SEGMENT 4
- Healthcare Equipment Financing and Leasing Market: Common Size Balance Sheet of Hospitals (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Capex to Sales Ratio of Hospitals (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Long-Term Debt to Equity Ratio of Hospitals (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Equity Multiplier of Hospitals (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Common Size Balance Sheet of Home Healthcare Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Capex to Sales Ratio of Home Healthcare Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Long-Term Debt to Equity Ratio of Home Healthcare Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Equity Multiplier of Home Healthcare Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Common Size Balance Sheet of Long-Term Care Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Capex to Sales Ratio of Long-Term Care Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Long-Term Debt to Equity Ratio of Long-Term Care Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Equity Multiplier of Long-Term Care Facilities (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Common Size Balance Sheet of Medical Practitioners (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Capex to Sales Ratio of Medical Practitioners (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Long-Term Debt to Equity Ratio of Medical Practitioners (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: Equity Multiplier of Medical Practitioners (North America), 2001-2005
- Healthcare Equipment Financing and Leasing Market: List of Mergers and Acquisitions (North America), 1999-2005
- Healthcare Equipment Financing and Leasing Market: Leasing Company Initial Public Offerings (North America), 1994-2005
