Capital One completes GE Healthcare Financial Services buy
Capital One Financial Corporation has completed its purchase of the General Electric Capital Corporation's Healthcare Financial Services lending business.
The deal was announced in August. Capital One's existing healthcare banking business will take the GE acquisition and become Capital One Healthcare, giving the entity more than $11 billion in total outstanding balances. The new organization will look at financing for healthcare sectors that include senior housing, pharmaceuticals and healthcare IT.
Darren Alcus, a former president of GE Capital, Healthcare Financial Services, has been named president of Capital One Healthcare. He will report to Michael Slocum, president of Capital One's Commercial Bank.