BETHESDA, MD-- July 29, 2009 --- GE Capital, Healthcare Financial Services today announced it was administrative agent on a $25 million revolving line of credit for AccessOne MedCard, Inc. The loan will be used to refinance existing debt and to support growth initiatives. GE Capital Markets served as sole lead arranger and sole bookrunner.
Based in Charlotte, NC, AccessOne MedCard, Inc. provides alternative programs that allow hospitals to more efficiently serve their self-pay patient consumers. This is accomplished by creating a private label, low interest medical credit card for individual hospital clients, the "AccessOne MedCard." The program also includes a 12-month interest free and hardship option. The program is offered to all patients without credit scoring or credit reporting.
"GE Capital's Healthcare Financial Services business has provided funding for our product since 2004," said Russell A. Salton, III, MD, CEO, AccessOne MedCard, Inc. "Especially in this difficult credit environment, our continued access to funds will help us to achieve our growth and development goals."
"We are pleased to play a part in helping Access One MedCard, Inc. continue to successfully grow and strengthen its position in the patient financing market," said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services' corporate finance group. "GE's healthcare industry expertise and experience continues to help our customers manage the challenges of the current market environment."
About GE Capital, Healthcare Financial Services
With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including long-term care, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit www.gehealthcarefinance.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at www.ge.com.
Ned Reynolds
GE Capital
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