Doctor, Aviator Soars Ahead of FAA Mandate with Financing

Dr. Gabriel Krenitsky of Columbus, Ohio

Dr. Gabriel Krenitsky of Columbus, Ohio, is a physician dedicated to dermatology and emergency medicine. He is also a private aviator dedicated to the highest safety standards.

When he first learned about the Federal Aviation Administration (FAA) mandate to upgrade ADS-B equipment, he got right on it, found Madison Capital through a Next Gen government program that encouraged financing for upgrades. Happy with Madison, he then decided to bundle additional improvements into a lease for all the equipment.

His final tally was around $70,000, he said, as he added a secondary GPS, a better primary display, and an engine instrument monitor. While he uses his 2015 Cessna 421 to attend conferences and treat patients outside of Ohio, he also takes his wife and children on trips.

“My personal approach is…there will be no delay in maintenance. I want my plane to be the safest it can be,” he said.

Madison Capital finances avionics upgrades

Madison Capital finances avionics upgrades

Dr. Krenitsky also favors financing for medical equipment used in his practice (Universal Dermatology), which provides dermatology related surgical procedures as well as other dermatology services. His most recent financed acquisition is a machine that stops underarm sweating. He notes there are tax advantages to leasing including accelerated depreciation and cash flow benefits from spreading out the payments over time. Paying for the machine as revenue comes in makes a lot of sense in a practice this size.

The process was smooth with Madison; in fact, we had approval within 24 hours and everything transacted within a week, he added.

The other difference between Madison and other sources of capital, said Dr. Krenitsky, is that Madison will finance things many banks won’t look at, such as unique pieces of equipment or those that can be complex such as aircraft aviation systems. In fact, the doctor has plans to finance more and will turn to Allan Levine, partner at Madison Capital, because he is reasonable and fast.

Dr. Krenitsky works 24-25 days a month and doesn’t want to spend time waiting in airports. He likes the freedom of flying himself to where he wants or needs to be.

He also enjoys flying and grew up in an aviation family. In fact, before he started his medical practice 20 years ago he was considering a different path – a combination of aviation medicine and flying for an airline. After the events of 9/11 he changed his mind as airlines scrambled to recover from the economic impact.

Today Dr. Krenitksy is happy about the way he has combined aviation with his medical profession. In fact, he combines his two loves in video blogs as well.

One segment with 208 views titled VLOG #1 High Altitude Hair Loss Chat reports on how hair replacement treatment works. It is broadcast from the cockpit of his Cessna 421 at 8,000 feet and 170 Kts. In it, he discusses the use of Low Level Laser Therapy for patients with hair loss.

Dr. Krenitsky is also a board-certified emergency medicine physician and a fellowship trained cosmetic surgeon specializing in micro-hair transplantation. He is certified by both the American Board of Emergency medicine, the American Board of Hair Restoration surgery. He earned a bachelor’s degree in biology from Ohio State and his medical degree from Penn State University College of Medicine in Hershey.

On the FAA mandate, take some advice from the doc and a guy who likes to fly:

“Better do it now, or risk missing the deadline. The avionics shops are going to get flooded, and
the FAA is not going to change the mandate.”