ADCB and Siemens partner to launch Medical Equipment Loans in the UAE

27 February 2011

Abu Dhabi, 27 February 2011: Abu Dhabi Commercial Bank ("ADCB") and Siemens Healthcare, UAE, today announced that they have entered into a partnership agreement to launch ADCB's 'BusinessEdge Medical Equipment Loans' in the UAE. The product is designed to meet the requirements of the local medical and healthcare industry, including hospitals, clinics, laboratories and pathology labs, by funding the purchase of medical imaging and therapy equipment. The product is expected to focus largely on the small and mid sized clinics and practitioners.

The partnership between ADCB's SME (Small Medium Enterprises) division and Siemens Healthcare LLC, has been established to ensure that SME customers from the healthcare industry have easy access to flexible and customized finance options in purchasing the equipment they need to start up or further develop their business. The partnership will entail combined efforts for promotions and holding various events throughout the year.

ADCB has been constantly focusing on growing and supporting the SME segment in the region by offering a complete suite of products specifically designed to fit the requirements of SMEs.

Nilanjan Ray, Head - SME Banking, ADCB said: "The ADCB BusinessEdge Medical Equipment Loan is yet another step in our efforts to offer customers flexible and customized products and services. The alliance with Siemens will result in a focused and tailored financial product proposition, combining the financial expertise of ADCB's SME division with industry leadership and knowledge from Siemens, greatly benefitting customers."

"Siemens focuses on providing the regional healthcare industry with affordable leading edge technology and local expertise," says Maurice Faber, vice president for Healthcare at Siemens LLC. "This partnership will allow access to the latest imaging, diagnostic and therapeutic technology to a much wider set of providers and in turn, the patients."