GE Capital’s healthcare financial services specializes in offering customized financing solutions that help support and grow healthcare organizations by providing financing to companies in various healthcare sectors like healthcare services, seniors housing, hospitals, medical offices, pharmaceuticals, and medical devices.
The deal is a part of the company’s strategy to reduce its $100bn worth of finance assets by the end of the year and includes sale of healthcare-related loans worth $8.5bn.
The current transaction has brought GE’s announced divestitures of finance assets to about $78bn, reports Reuters.
Capital One commercial bank’s president Michael Slocum said: "This is a strategic investment in a specialty industry segment that we have been building out for the past several years. This addition will catapult us to a leading market position in providing financial services to the healthcare sector.
"The GE Capital, Healthcare Financial Services team shares our commitment to providing value-added advice and creative financing solutions to the healthcare industry. Together we will deliver a powerful combination of industry-leading expertise and expanded capabilities to our clients."
Capital One hopes to strengthen its healthcare lending operations with the deal.
GE Capital, healthcare financial services president Darren Alcus said: "The healthcare sector offers tremendous potential for growth, and I am confident that together we will offer the best-in-class expertise and tailored financial products that meet the needs of healthcare businesses across the country."
Image: Capital One aims to boost its healthcare lending operations with the deal. Photo: courtesy of en:user:freakofnurture via Wikipedia Commons.
