El Centro Regional Medical Center
Improving IT efficiency with innovative financing
El Centro Regional Medical Center (ECRMC), is a 161-bed acute-care medical center located in California’s Imperial Valley. ECRMC was considering an IT intensive project focused on outsourcing its IT department to improve operational efficiency. In order to successfully execute their plan, the center had to upgrade IT equipment and related products outlined in its master outsourcing agreement with a third party provider.
Siemens Financial Services (SFS) was approached for the $4 million needed to support this project. ECRMC had partnered five years earlier with SFS to acquire its Soarian™ system. At that time, SFS provided a tax-exempt lease solution in order to facilitate the acquisition for ECRMC. Having previously provided the center with financing support, ECRMC had an existing master lease agreement with SFS. The organization asked SFS to generate another financing proposal in support of outsourcing the project. The hospital eventually selected SFS to provide a tax-exempt lease to support its IT restructuring efforts.
Benefits for Customer
The result of this project was a customized financial solution that enabled the accomplishment of ECRMC’s business goals. It also provided them with financial expertise, from a trusted source, which allowed ECRMC to successfully outsource their IT efforts.