Toshiba Medical Creates Financing Arm

Money talks, especially in the cost-conscious health care industry.

Toshiba American Medical Systems Inc. peddles high-ticket diagnostic equipment ranging from a $30,000 budget-model ultrasound machine to a $1-million-plus custom X-ray system. To help persuade its hospital customers to part with the sizable investment required to buy one of these products, Tustin-based Toshiba, a unit of Toshiba Corp. in Japan, has created its own credit company to provide financing.

While the company used to direct customers to outside lenders for equipment financing, controller Kevin Abbott says it now will be able to provide flexible terms to better meet the demands of customers. “We can offer a lease, buyout terms, or trade-up options that we couldn’t do before.”