Here are five key notes:
1. Capital One plans to combine its new acquisition with the company’s existing healthcare banking business, which will be renamed Capital One Healthcare. The company will provide financing to companies in healthcare, hospitals, medical offices, senior housing, pharmaceuticals, medical devices and healthcare IT.
2. The lending service has more than $11 billion in total outstanding balance.
3. Former President of GE Capital, Healthcare Financial Services Darren Alcus was named president of Capital One Healthcare. He reports to Capital One Commercial Bank President Michael Slocum.
4. Mr. Alcus will work with an experienced management team with deep industry relationships and expertise in his new role.
5. Capital One’s subsidiaries had $212.9 billion in deposits and $313.7 billion in total assets at the end of September.
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