The Kids Research Institute Australia has signed a three-year extendable strategic supply partnership with leading asset finance and leasing solutions provider Alleasing Pty Ltd (Alleasing), for the provision of asset finance solutions.
The agreement, valued at up to $12.0 million, will see Alleasing provide The Kids Research Institute Australia with financing over the next three years for a range of assets including new innovative clinical, IT and telecommunications equipment, as well as fit-out for a new facility.
The Kids Research Institute Australia is one of Australia's leading independent medical research institutes for childhood diseases with more than 500 staff, and is not-for-profit. The organisation has chosen to partner with Alleasing due to its more than 25 years' experience funding highly specialised assets to healthcare, government and corporate clients.
Commenting on the partnership, Nick Northcott, Chief Operating Officer at the The Kids, said: "Partnerships such as this with Alleasing enable the Institute to achieve optimal value through the establishment of a long-term agreement with a supplier who shares our vision of discovery, prevention and curing childhood disease.
"Traditionally the Institute has acquired all of its equipment through outright purchase, using its own capital. While this was a large drain on capital at up to $3 million per year, we also came up against challenges such as our staff working with outdated assets and equipment, which can have an impact on not only productivity but also potentially on clinical or patient outcomes.
"Financing and leasing our assets through Alleasing allows us to reduce heavy capital outlays, while also giving us the flexibility to optimise usage of the assets and helps to reduce costs over the longer term when it comes to upgrading equipment. All of these benefits associated with leasing our assets means we are better placed to concentrate on what we are passionate about, which is tackling complex childhood diseases and issues," Mr Northcott added.
Alleasing Chief Executive Officer Daniel Blizzard is delighted that the company's partnership with The Kids will play a role in supporting the critical research that the organisation undertakes.
"The Alleasing team is proud to partner with The Kids Research Institute Australia and assist the organisation in working towards prevention and cure of childhood diseases. The leasing program we are able to provide for The Kids will make the procurement process a lot more structured and simpler for the organisation, as well as support Telethon to deliver exceptional outcomes.
"Alleasing takes a partnership approach, investing the time to understand our clients' business and tailor a solution that meets their needs. This approach has seen us finance close to $500 million of assets, from diagnostic imaging and surgical instruments to practice fit-outs and IT&T equipment for the healthcare industry. Our team understands the finance needs of the healthcare and medical industry and is able to deliver cost-effective equipment finance that both supports cash flow and addresses technology risk," Mr Blizzard said.
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For more information, please contact:
Anna Frilingos, Alleasing 02 9850 5108 | 0409 599 911| Anna.Frilingos@alleasing.com.au
Tammy Gibbs, The Kids Research Institute Australia 08 9489 7963 | 0408 946 698 | tammy.gibbs@telethonkids.org.au
About The Kids Research Institute Australia
The Kids Research Institute Australia is one of the largest, and most successful medical research institutes in Australia, comprising a dedicated and diverse team of more than 500 staff and students.
We've created a bold blueprint that brings together community, researchers, practitioners, policy makers and funders, who share our vision to improve the health and wellbeing of children through excellence in research.
The Institute is headed by leading paediatrician and infectious diseases expert Professor Jonathan Carapetis, with Founding Director Professor Fiona Stanley now Patron.
The Kids is independent and not-for-profit. The majority of funding comes from our success in winning national and international competitive research grants. We also receive significant philanthropic support from corporate Australia and the community.
About Alleasing
Alleasing is a leading, independent provider of asset finance and leasing solutions. We have financed billions of dollars of assets for businesses in Australia and New Zealand during our 25 years of operation.