General Electric is selling its health care lending unit and related loans to Capital One for roughly $9 billion as it shrinks its GE Capital finance business. GE announced in April that it would sell most of the assets in the GE Capital subsidiary as it focuses on industrial businesses making large, complicated equipment for other companies. Investors had long pushed for the company to get rid of its finance unit, even though it has been profitable, because it is difficult for investors to understand and it carries risk. The health care financial services unit involved in Tuesday's announcement provides capital financing to U.S. health care companies, developers and others. McLean, Virginia-based Capital One said Tuesday that the acquisition will help add to its existing health care lending business, which it has been building out for the past several years. The deal is expected to close in the fourth quarter.
