Quick answer
Medical equipment finance is a loan or lease used to buy clinical equipment such as imaging machines, dental chairs, ultrasound units, pathology analysers, physio gear and practice technology, with the equipment usually held as security. Ownright Custom Finance arranges it Australia-wide for medical, dental, allied health and aged care providers.
Key points
- Imaging, dental, surgical and allied health equipment can be considered
- New, used and refurbished units may be financed
- Lease and purchase structures suit different practice models
- Equipment can be funded alongside a practice fitout
- Suits
- GPs, dentists, specialists, physios, optometrists, aged care providers
- Security
- The equipment being financed
- Structures
- Chattel mortgage, hire purchase, finance or operating lease
- Australia-wide
- Yes
How does medical equipment finance work?
Medical equipment finance lets a practice or provider acquire clinical equipment without paying the full price upfront. The lender pays the supplier, you repay over an agreed term, and the equipment is the lender’s security. At the end you own it, or under certain lease structures you may return it, upgrade it or buy it for an agreed amount.
Clinical equipment is a different animal from a delivery van. It can be highly specialised, regulated, and fast-moving in technology terms. That affects how lenders look at resale value and how you think about owning versus leasing.
Who uses medical equipment finance?
- GPs and medical centres adding diagnostic equipment
- Dentists buying chairs, scanners, lasers and sterilisation gear
- Specialists such as dermatologists, cardiologists and ophthalmologists
- Physios, chiropractors, osteopaths and podiatrists equipping new rooms
- Optometrists, audiologists and radiology providers
- Aged care, disability and home care providers buying beds, hoists and monitoring equipment
What do lenders look at?
The equipment. Type, supplier, price, age and how quickly it might date. Lenders feel more comfortable with equipment from established suppliers that carries proper servicing and, where relevant, is included on the Therapeutic Goods Administration register of medical devices.
The practitioner and the practice. Qualifications, registration, years in practice and the practice’s income. Healthcare professionals are often viewed favourably because of steady demand, though a brand-new practice is assessed more cautiously.
The financials. Tax returns, BAS, bank statements and a picture of existing commitments. Where a practice is new, a business plan and projected billings can help.
The deposit. More cash in reduces the amount financed and can widen lender choice.
Which structure fits medical equipment?
| Structure | Ownership | When it tends to suit |
|---|---|---|
| Chattel mortgage | You from day one | Equipment you plan to keep for years |
| Hire purchase | Lender until final payment | Clear path to ownership |
| Finance lease | Lender | Regular upgrades |
| Operating lease | Lender | Fast-evolving technology or shorter use |
The tax effect varies by structure, which is a conversation for your accountant. Our chattel mortgage guide explains the most common route in plain English.
Should you buy or lease clinical equipment?
Some equipment, such as a dental chair, can serve for many years. Other items, like imaging software or scanners, can date quickly. If the technology moves fast, a lease with an upgrade path may be more comfortable than a purchase that ties up capital in something that becomes old. If you keep equipment for a long time, ownership usually makes sense. There is no single right answer, which is why we look at your plans, not a template.
How Ownright arranges medical equipment finance
Trevor Scott and the team begin with the equipment and the practice. We want to understand what the equipment is for, how it will earn and how it fits with other commitments such as a practice loan or premises lease. A lender approving a scanner is also judging the strength of the practice.
After a knock-back from a bank, another asset lender may still be comfortable with the equipment or the practitioner’s profile. We outline what each lender wants to see and how long things can take, which turns on the lender, the security and how quickly paperwork arrives. We also help regional practices, where access to specialist equipment can matter most.
An illustration
Illustrative scenario only. A dentist taking over an existing practice wants to replace two chairs and add an intraoral scanner. They are also dealing with a practice purchase loan. A broker could look at an asset lender that accepts professional income, bundle the equipment on one supplier quote, and discuss whether a lease on the scanner preserves working capital during the first year.
Mistakes to avoid
- Signing a supplier contract before the finance structure is clear
- Ignoring servicing, software licences and consumables in the running cost
- Choosing a long term on equipment likely to date quickly
- Forgetting insurance and downtime planning
- Applying with several lenders at once and leaving enquiries on your credit file
Our guide on what a credit enquiry is explains why that last point matters.
Documents to have ready
- Supplier quote or invoice with model and serial details
- Recent tax returns, BAS and bank statements
- Practice registration or professional details
- Schedule of existing debts and assets
- Photo ID and details of any trade-in
Our paperwork guide and the loan ready guide cover the rest.
Can equipment finance be combined with practice finance?
Yes. Many practitioners bundle equipment with a practice purchase, an expansion or a premises move. Our pages on medical and dental practice finance, medical centre property loans and business fitout finance show the other pieces. Practice software and hardware may fit under technology and software finance. The goal is to avoid stacking commitments in a way that stretches your cash flow.
What if my credit is not perfect?
Credit marks do not always rule out equipment finance for a practitioner. A few lenders balance the equipment, the deposit and professional standing against the file. Candour matters, as lenders check. Our credit score improvement guide is worth a read, and bad credit asset finance describes how weaker files are treated.
How long does medical equipment finance take?
Speed is something we cannot promise, as it turns on the lender, the equipment and your documents. Established suppliers and tidy files help. Large imaging machines, staged supplier payments and new practices stretch things. If a practice opening or lease expiry is driving the date, tell us first.
What running costs should you plan for?
Clinical equipment brings costs beyond the repayment. Think about servicing contracts, calibration, consumables, software licences, staff training, insurance and the downtime when a machine is being repaired. Larger devices may need room preparation, shielding, ventilation or power upgrades, which can be significant. These costs belong in your budget before you commit, and a good supplier will give you realistic figures. We factor them in so the repayment you choose still works once the practice is up and running.
Ready to equip the practice?
Sounds like you’re looking for medical equipment finance. We’re the lending experts in funding clinical and practice equipment, so click the button below and see if you qualify.
How it works, step by step
- 1
Step 1
Tell us the equipment, the quote and how it fits into the practice.
- 2
Step 2
We compare purchase and lease structures against your income and tax position.
- 3
Step 3
We approach lenders comfortable with healthcare equipment and professional borrowers.
- 4
Step 4
Paperwork is signed, the supplier is paid and the equipment is installed.
Frequently asked questions
What medical equipment can be financed?
A wide range. Common examples include dental chairs and scanners, ultrasound and X-ray units, ECG and spirometry devices, physio and rehabilitation equipment, optometry machines, sterilisers and practice IT. Lenders prefer clearly identified, supplier-quoted items. Tell us what you need and we will explain how each piece tends to be treated.
Can I finance used or refurbished medical equipment?
Sometimes. Lenders look at the age of the unit, the supplier, servicing records and how easily it could be resold. Specialised or heavily technical devices can be harder to place than general items. A reputable supplier and clear documentation help. We can tell you early what looks workable.
Should I buy or lease medical equipment?
It depends on how fast the technology changes, how long you keep equipment and your tax position. Buying builds ownership, while leasing can suit rapidly updated devices. Your accountant can confirm the tax effect, and we explain the practical differences and what each costs you in flexibility.
Can a new practice get equipment finance?
Often. Lenders commonly consider new practices run by experienced practitioners, particularly with a deposit and a clear plan. A thin trading history means fewer lenders, not none. Tell us about your experience, the practice model and the premises, and we will talk through what is realistic.
Can equipment finance sit alongside a practice purchase or fitout?
Yes, it often does. Many practitioners combine equipment finance with a practice purchase loan, a fitout facility or a property loan. Each lender assesses the combined commitments, so the order and structure matter. We look at the whole picture so the pieces fit together.
Does the equipment need to be installed before the lender pays?
It varies. Some lenders pay the supplier on delivery, others require a sign-off that the equipment has been installed and is working. Large imaging machines often have staged payments. We check the lender's process against the supplier's terms before you commit.