BETHESDA, Md.--(BUSINESS WIRE)--GE Capital, Healthcare Financial Services today announced it has increased Nyack Hospital's credit facility to $30 million to support comprehensive hospital-wide automation. Nyack Hospital is a 375-bed community care medical/surgical hospital located in Nyack, NY, and has been a client of GE Capital since 2006.
"GE Capital's Healthcare Financial Services business worked closely with us to make sure we have the funding required for this project," said John Burke, Chief Financial Officer of Nyack Hospital. "We value having a lender who understands our business."
"Hospitals today are operating in a very challenging environment with a struggling economy, the prospect of reimbursement cuts, and, in some regions, an overcapacity of beds," said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services' corporate finance group. "Nevertheless, hospitals need to continually invest in their facilities to stay competitive. We're committed to providing the capital they need to meet their objectives."
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.
Jeanne DeLeonardo