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  • Writer's pictureMartin Steel

McKinley in a nutshell

McKinley Scientific is an asset management organization. We help labs acquire technology in a variety of strategies and we help them move in and out of technology in an efficient manner.

We provide used and refurbished instrumentation. Our specialty is (but not limited to) LC/MS. Instrumentation, delivery, installation, and service. Labs can purchase outright or in many instances, they can qualify for financing with McKinley Capital finance. Some services are outsourced with best-in-class partners – such as installation and service – with most partners having an established business operation in NC.

New instrumentation can be acquired through McKinley Scientific under a lease (rental) structure or through financing (purchase). Leasing terms are typically 24,36 or 48 months and financing can extend out to 60 months for qualifying credits.

McKinley Scientific provides some interesting lease structures to help labs maintain flexibility around instrumentation. Labs may not have a good understanding of the potential outcome of a project, may be unfamiliar with the usefulness of an instrument, or may be certain that a change will be required in the future. While leasing is an excellent strategy in these scenarios, it is not forgiving if, with hindsight, a purchase would have been a better option. McKinley can offer a traditional lease structure with the added flexibility of an Early Buyout Option (EBO) at a price fixed at lease inception and executable exactly 12 months before the end of the lease with the lab no worse off than had they purchased from the outset. This gives labs incredible flexibility.

McKinley Capital provides financing for any instrumentation acquisition regardless of whether it is supplied by McKinley. Strong credits can qualify for 100% financing. Startups with little balance sheet activity struggle to qualify for financing with traditional establishments. McKinley can provide financing to startups if they are able to make a down payment. In these instances, McKinley’s credit and instrument knowledge are sufficient to secure the financing with underwriting by McKinley.

For Manufacturers of instrumentation or devices, McKinley Capital can provide Vendor Financing programs. These programs allow manufacturers to finance sales to customers through McKinley Capital. The program is based on a single page application completed by the buyer. Typical approval is in 24 hours or less with a limit of $350,000.

Higher value financings require additional review.

Surplus instrumentation can be traded in towards the cost of replacement instrumentation or McKinley can offer to purchase. By far, the best return for the lab is our Consignment Program. McKinley perform a market evaluation of the instrument and an estimate of out-of-pocket expenses (test, crates, pack, ship, refurbish, ship, install) to arrive at an estimated “Net receivable”. This net receivable is split 70/30 in favor of the consignor. Expenses are carried by McKinley until the proceeds of the sale are received minimizing any financial burden on the consignor.

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