STAMFORD, Conn.--(BUSINESS WIRE)--June 19, 2002--
- Offers Comprehensive Line of Financing Products and Services,
Strong Industry Expertise and Commitment to Client Success -
GE Capital today announced the formal launch of a new business unit, GE Capital Healthcare Financial Services, focused on providing capital, financial solutions and related services to the healthcare industry.
This action brings together in a single business the healthcare-related expertise, assets and capabilities from several GE Capital businesses as well as Heller Financial, which the company acquired in October 2001.
With $9 billion in assets, GE Capital Healthcare Financial Services is one of the largest financial service providers dedicated to this diverse industry. GE Capital offers a comprehensive range of financing products, from equipment leasing and real estate financing to working capital lending and equity investing. Customers represent all sectors of healthcare including providers, such as hospitals, outpatient centers, skilled nursing and assisted living facilities, as well as companies who service the provider community.
The Center for Medicare and Medicaid Services, a government regulatory agency, estimates the size of the US healthcare market at $1.4 trillion for 2001 and projects growth of 7% annually through 2010. In addition, GE Capital research estimates the size of the international market at $3.5 trillion in 2002 with a 3% annual growth rate.
"The healthcare market is a large and growing one, both domestically and internationally, providing strong opportunities for quality financial service providers," said Denis J. Nayden, Chairman and CEO of GE Capital. "We believe the combination of our deep industry expertise, wide range of products and services and core focus on helping customers to achieve their business objectives, will clearly differentiate us in all sectors of this growing marketplace."
"Our goal is to be the industry's most dependable partner and trusted advisor when it comes to financing decisions within healthcare," added Rick Wolfert, President and CEO of GE Capital Healthcare Financial Services. "Our intent is to use our financial expertise and industry knowledge to help customers improve their profitability, productivity and competitive position."
GE Capital Healthcare Financial Services is headquartered in Chicago, with offices throughout North America, Latin America, Europe and Asia. The business employs nearly 600 employees.
GE Capital Healthcare Financial Services is the premier provider of capital, financial solutions and related services for the global healthcare market. With $9 billion in assets, GE Capital Healthcare Financial Services offers a full range of financing capabilities from equipment leasing and real estate financing to working capital lending and equity investing. With a dedicated focus and a deep knowledge of the healthcare industry, GE Capital Healthcare Financial Services collaborates with customers to create tailored financial solutions that help them improve their productivity and profitability. GE Capital Healthcare Financial Services' website is GECapitalHealthcare.com.
GE Capital, with assets of more than US$425 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 25 businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Connecticut, provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 45 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide.
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CONTACT:
GE Capital
Marissa Moretti, 203/961-2290