Deals
Capital One Buys GE Health-Care Lender to ‘Catapult’ Niche Unit
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Capital One Financial Corp. agreed to buy General Electric Co.’s health-care finance unit for about $9 billion, as the bank best known for its credit cards builds a niche business into one of the industry’s largest.
Capital One will acquire the operation and about $8.5 billion of health-care-related loans, the companies said Tuesday in statements. The Healthcare Financial Services unit, put on the market this year as GE unloads the bulk of its finance arm, provides mortgages and loans to companies including nursing homes.