With this deal, GE has divested of $78 billion of that total. The move is part of GE's plan to sell off its finance business and divest $100 billion in financial assets, to focus more on its manufacturing arm. In accordance with GE Capital Limited regulatory requirements. Together with our customers, we’re proving that no one is ever limited to only affordable, reliable, or sustainable energy. 'This addition will catapult us to a leading market position in providing financial services to the healthcare sector.' 'This is a strategic investment in a specialty industry segment that we have been building out for the past several years,' Michael Slocum, president of Capital One's Commercial Bank, said in the announcement. The deal is expected to close in the fourth quarter.ĭarren Alcus, president of the GE division, will join Capital One as president of the healthcare finance business.

Under terms of the deal, Capital One will take on $8.5 billion in existing healthcare-related loans held by GE. Capital One Bank, Jacksonville, TX ( Wikimedia Commons)Ĭapital One will take over the healthcare finance arm of GE Capital in a $9 billion deal, the financial firm announced Tuesday night, turning a company known best for its 'what's in your wallet' credit card business into a powerhouse in the healthcare lending sphere.

Ge capital one phone number