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
2. Introduction and Methodology
- 1. Introduction
- 2. 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
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