GE Capital’s Healthcare Financial Services (HFS) business, a part of General Electric Company GE, recently served as an administrative agent to provide a $48.5 million financing to a joint venture.Following the news, General Electric’s shares gained marginally to $27.63 on May, 28.
The funds will be utilized for the acquisition of four senior housing facilities in Arizona, which will comprise independent living, assisted living and memory care units. GE Capital’s Healthcare Financial Services division already possesses expertise in the healthcare industry. The credit facility will further facilitate the operating and strategic initiatives for the venture to fuel its growth strategy. The opportunities of scale created by this transaction will help the companies to meet the challenges in the post-acute healthcare industry and enhance its ability to better serve patients and residents.
With in-depth industry knowledge and a team of professionals, GE Capital’s healthcare financial services create solutions designed to meet the specific requirements of its customers.
General Electric, the parent company of GE Capital’s Healthcare Financial Services division, is one of the largest and most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Better-ranked stocks from the same space include Rollins Inc ROL, Hitachi Ltd. HTHIY and Shanghai Industrial Holdings Limited SGHIY. All these stocks hold a Zacks Rank #2 (Buy).
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