BOQ Specialist has taken a 35 per cent equity stake in Australian patient finance provider MiFund.
The strategic investment will allow BOQ Specialist to introduce MiFund’s patient finance platform to their medical, dental, and veterinary practitioner clients across Australia.
Designed in response to continuous increases in healthcare costs and private healthcare premiums, MiFund’s unique ‘point of sale’ platform provides flexible and affordable payment solutions to patients looking to fund essential or non-essential procedures over time. Patients can access real time finance approvals across all smartphone devices, interest free periods, and competitive fixed rates.
“BOQ Specialist is excited to align with an innovative fintech who shares our niche focus on the healthcare sector and has a strong vision for the future of patient finance in Australia,” said BOQ Specialist’s CEO, Hugh Lander.
“Our specialist knowledge and extensive networks, combined with MiFund’s product capabilities and technological expertise, puts us in a desirable position to expand our proposition and provide a comprehensive offering to our medical, dental and veterinary clients.
“By introducing this supplementary service, we can help our existing clients to build their practices,” said Mr Lander. “For the practitioner, it delivers an effective cash-flow solution… while also driving client loyalty and retention. For their patients, it provides greater choice and the opportunity to receive the treatment they require today, which could be more costly both financially and medically if they had to delay.”
