EXETER, Pa. — With elimination of the first-month purchase option, Pride Mobility Products announced Feb. 9 it has formed Galaxy Mobility Financial Services, a wholly owned subsidiary that will furnish inventory financing and working capital to help Pride providers transition to the power wheelchair sector's new rental environment.
New programs including fleet, inventory finance and customized programs will allow providers to manage cash flow by securing a source for capital and scheduling predictable monthly payments for inventory. The programs offer competitive interest rates, have a high number of credit approvals and "free up Pride credit lines for additional purchasing power," according to a release.
"Faced with a challenging economy and Medicare's elimination of the first-month purchase option, we recognized the limited capital market for DME providers," said Scott Meuser, Pride chairman and CEO. Creation of the new division "fills that void and empowers our providers to continue to operate dynamic and growing businesses," he said.
In January, the manufacturer announced that its Jazzy Select Elite has been adapted with rental-ready features including a seat with removable, replaceable foam and vinyl and an extended 13-month warranty. The chair also features new Jazzy Armor shroud and controller guards as protection from daily wear and tear.
Michael O'Boyle has joined Pride as general manager of Galaxy sales following 12 years with Altec Industries.