Capital One to buy GE’s healthcare finance unit for $8.5B

McLean, Va.-based Capital One Financial announced Tuesday it inked a deal with Norwalk, Conn.-based General Electric Capital to acquire its Healthcare Financial Services business and healthcare related loans for $8.5 billion.

The acquisition is expected to be complete by the end of the year.

GE Capital, Healthcare Financial Services is one of the leading capital providers in the U.S. healthcare market and provides financing solutions to organizations such as hospitals, medical offices, seniors housing organizations, healthcare services companies, medical device companies and pharmaceutical companies.

"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," Michael Slocum, president of Capital One's Commercial Bank, said in a statement. "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."


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