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Key Equipment Finance Enters Long-Term Program Agreement With Hitachi Medical Systems America


1/10/2011 7:57:30 AM

SUPERIOR, Colo., Jan. 10, 2011 /PRNewswire/ -- Key Equipment Finance, one of the nation's largest bank-held equipment finance companies and an affiliate of KeyCorp (NYSE: KEY) today announced that the company has entered into an exclusive, long term, program agreement with Hitachi Medical Systems America. Hitachi Medical Systems America is the U.S. distributor of Hitachi Medical Corporation's diagnostic imaging products.

The new partnership with Key Equipment Finance will offer innovative equipment financing options to medical facilities interested in obtaining Hitachi MRI, CT and ultrasound equipment. The equipment finance relationship will also enable hospitals and outpatient imaging clinics to take advantage of one stop shopping for diagnostic imaging equipment and financing, as well as conserve cash and take advantage of the tax benefits of equipment leasing.

"We've had a long and successful relationship with Hitachi Medical Systems for many years and we're excited to enter into a more formal relationship with them," said Brian Madison, senior vice president of manufacturer and vendor alliances for Key Equipment Finance. "Hitachi is a global leader in the diagnostic imaging industry, and we look forward to working with them to better meet the needs of customers across the U.S."

To support the program, Key Equipment Finance has hired experienced Hitachi Medical Systems leasing professionals to join the company's existing healthcare team. As a result, Hitachi Medical Systems clients will continue to receive the same level of service from staff members with whom they already have relationships.

"Key Equipment Finance has been our lead funding source and we're pleased to be working with them on a more formal, long-term basis to offer flexible financing solutions to our diagnostic imaging clients," said Don Broomfield, president and CEO of Hitachi Medical Systems. "Key Equipment Finance's leasing experts are well versed in the intricacies of the imaging industry in today's complicated healthcare market, and we look forward to working more closely with them."

About Hitachi Medical Systems America, Inc.

Hitachi Medical Systems America Inc. (HMSA) markets advanced diagnostic medical imaging systems of Hitachi Medical Corp., Tokyo, Japan. The company has more than 1,500 MRI systems installed throughout the United States and also markets multi-slice computed tomography and digital ultrasound.

For more information on Hitachi Medical Systems America, Inc. please visit www.hitachimed.com.

About Key Equipment Finance

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:

  • businesses of all sizes in the U.S. (from small business to large corporate);
  • equipment manufacturers, distributors and value-added resellers worldwide;
  • federal, provincial, state and local governments as well as other public sector organizations; and
  • lease advisory services for larger structured equipment needs including single investor and leveraged leases, securitizations, and structured debt.

Headquartered outside Denver, Colorado, Key Equipment Finance manages nearly $11 billion in assets and originates approximately $3 billion of equipment annually. The company has major management and operations bases in Albany, New York; London, England; Hong Kong, China and Sydney, Australia. The company, which supports clients in over 40 countries, employs approximately 700 people worldwide and has been in the equipment financing business for over 35 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at www.KEFonline.com.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $94 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit www.key.com.

Key Equipment Finance Website: www.KEFonline.com

CONTACT:

Tricia Akins


720-304-1300


patricia.a.akins@key.com



SOURCE Key Equipment Finance


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