more-arw search

Q&A Forum

Medical Equipment Lease

One of the clients is considering the equipment lease ( either finance lease or operating lease ) from us. It is the Eye Examination equipment and it might be categorize as the medical equipment. Is there any information or website that we can determine that it is the medical equipment or not? Also is there any regulation or restriction for the leasing company to lease the medical equipment In California?

Answers

Jim Schwartz
Title: Corporate financial advisor
Company: Wabash Financial Strategies
(Corporate financial advisor, Wabash Financial Strategies) |

What is the reason for your concern about whether it is or isn't medical equipment?

Based on the limited facts you offer, it should be medical equipment. If you're nervous, contact the equipment vendor or manufacturer, ask that question and ask them for facts that support that determination.

I have no knowledge of California laws or regulations concerning medical equipment. Generally, there is nothing that restricts a party from being owner/lessor based on equipment type. For example, one doesn't need to be a pilot to be owner/lessor of an airplane. Your lease agreement should contain language to the effect that the equipment will be operated only by people who are properly qualified and licensed, etc. FDA (Food & Drug Administration) approval is needed before some medical products can be marketed but that is accomplished once, when a product is first introduced to the market.

I strongly recommend that you contact an attorney specializing in equipment leasing for assistance. It will be a wise investment given your apparently limited knowledge about equipment leasing.

Anonymous
(VP) |

Thank you very much for your advice.

1609 views
Topics

Get Free Membership

By signing up, you will receive emails from Proformative regarding Proformative programs, events, community news and activity. You can withdraw your consent at any time. Contact Us.

Business Exchange

Browse the Business Exchange to find information, resources and peer reviews to help you select the right solution for your business.

Learn more

Contribute to Community

If you’re interested in learning more about contributing to your Proformative community, we have many ways for you to get involved. Please email content@proformative.com to learn more about becoming a speaker or contributing to the blogs/Q&A Forum.