General Electric Selling Health Care Lending Unit To Capital One For About $9B
GE Capital's Healthcare Financial Services business lends to a variety of companies, including hospitals, drug makers and medical device specialists. GE will retain a portion of the business that lends to its medical equipment operations customers.
The New York Times' DealBook:
G.E. Continues Sell-Off With Health Care Lending Business
General Electric continued its campaign to shrink its huge finance arm, announcing on Tuesday that it will sell its health care lending business to Capital One for about $9 billion. The transaction is the latest part of a sweeping move by the conglomerate to reshape its business, focusing more on its core industrial operations. (de la Merced, 8/11)
The Associated Press:
GE Selling Health Care Finance Unit, Loans To Capital One
General Electric is selling its health care lending unit and related loans to Capital One for roughly $9 billion as it shrinks its GE Capital finance business. GE announced in April that it would sell most of the assets in the GE Capital subsidiary as it focuses on industrial businesses — making large, complicated equipment for other companies. The health care financial services unit involved in Tuesday's announcement provides capital financing to U.S. health care companies, developers and others. (8/12)
