Capital One acquires GE Capital Healthcare Financial Services

Capital One Financial Corporation has acquired GE Capital Corporation’s Healthcare Financial Services lending business.

The business will be combined with Capital One’s existing healthcare banking business to form Capital One Healthcare.

“We are excited to formally unite these two strong teams under the new umbrella of Capital One Healthcare,” says Michael Slocum, president of Capital One’s Commercial Bank in a news release. “With the strength of this combination, we are poised to capitalize on the tremendous growth potential we see in the healthcare sector.”

The new organization will offer more than $11 billion in total outstanding balances to help support and grow organizations, including healthcare services, hospitals, senior housing, medical offices, pharmaceuticals, medical devices and healthcare information technology.

Topics: Finance