Since 1997, Clinotech has been exporting top-quality medical diagnostic products to hospitals, laboratories and pharmaceutical companies around the world. During its first few years, the company minimized its financial exposure by requiring prepayment on all orders. “But what the company needed for faster growth was EDC’s Pre-Shipment Financing and EDC’s receivables insurance,” says Dr. Harrison Ofiyai, Clinotech’s President. “The first gives us the financial capacity to produce orders for customers who prefer not to pay in advance, and the second lets us provide deferred payment terms, which encourages customers to place larger orders. These EDC tools are really helping us – several of our clients have increased their accounts because we can now produce and ship their orders before being paid, which we couldn’t do in the past.”

Dr. Harrison Ofiyai
President,
Clinotech Diagnostics & Pharmaceuticals, British Columbia