Waukesha-based automated external defibrillator manufacturer Cardiac Science has launched a new financing arm called Cardiac Science Capital.
The new division will offer full financing of an AED package, with no down payment. The loans will feature low interest rates and affordable payment plans, the company said in a release.
Cardiac Science Capital’s AED packages include a Powerheart G5 dual-language AED in either automatic or semi-automatic models, as well as four years of annual service on the device. Training, accessories and other services can be added.
“Whether it’s a lack of budget or poor timing, many organizations withhold purchasing AEDs or upgrading their existing AEDs. Unfortunately, a sudden cardiac arrest event does not wait until next year’s budget cycle,” said Al Ford, president of Cardiac Science. “Organizations need the ability to purchase potentially life-saving AEDs without delay, and we believe Cardiac Science Capital provides a much needed solution.”
In addition, Cardiac Science Capital will help businesses take advantage of the Section 179 tax deduction for capital expenditures.
“Whether you are starting an AED program or scaling up an existing AED program, Cardiac Science Capital provides the flexibility to spread out payments so you can better manage your cash flow,” Ford said. “Ultimately, we believe this solution will help get more AEDs into the hands of rescuers and, in turn, help save more lives.”
In January, the assets of Cardiac Science, which filed for Chapter 11 in October, were acquired by Aurora Resurgence, a Los Angeles-based private equity firm, as part of Cardiac’s larger restructuring. Cardiac has about 200 employees.