GE has completed the previously announced sale of its GE Capital, Healthcare Financial Services U.S. lending business.
The sale represents an aggregate ending net investment of approximately $8.3 billion, to Capital One, according to GE.
GE plans to focus on its high-value industrial businesses and is selling most GE Capital assets, the company said. GE and its board of directors have determined current market conditions are favorable to dispose of these assets.
GE will retain the financing verticals that relate to GE's industrial businesses including its Healthcare Equipment Finance business, which works with more than 5,000 healthcare provider organizations across North America to support their specific technology-management needs, GE said.
The Healthcare Financial Services transaction releases approximately $1.5 billion of capital. GE Capital said it is on track to deliver about $35 billion of dividends to GE under this plan, as previously announced, subject to regulatory approval.
