Capital One has acquired GE Capital's Healthcare Financial Services lending business, representing aggregate ending net investment of approximately $8.3 billion, to Capital One.
As GE pursues its high-value industrial business programs, GE board members have determined current market conditions are favorable to begin divesting non-priority assets.
"We're pleased that we can continue to transfer our businesses and employees to strong financial services firms like Capital One, who are committed to growing the business," said GE Capital chairman and CEO Keith Sherin.
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