GE Capital, Healthcare Financial Services, an operating unit
General Electric Company
), recently acted as an administrative agent to close a senior
credit facility worth $45 million for The Brooklyn Hospital
Center (TBHC). The transaction will likely enhance the liquidity
of TBHC and facilitate its working capital requirements to fuel
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With its headquarters in Brooklyn, New York, TBHC is a 464-bed
not-for-profit teaching hospital with nearly 3,000 medical
professionals and staff. Since its inception as the borough's
first voluntary hospital in 1845, TBHC has been offering basic
and specialized medical care, sophisticated diagnostic and
therapeutic services, and specialized surgery to nearly 300,000
patients annually at present.
TBHC is a member of the New York Presbyterian Healthcare System,
and the Brooklyn academic and clinical affiliate of Weill Medical
College of Cornell University. These affiliations enable it to
tap the resources and expertise of comprehensive university
hospitals of the region for a continuum of services. In addition,
TBHC has fully accredited independent residency programs in
several disciplines, and trains more than 250 physicians each
year. The debt financing by General Electric is expected to work
a long way in its continuous endeavor to fulfill such social
commitments for the overall improvement of patients.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world,
competing with industry bigwigs such as
Federal Signal Corp.
Tyco International Ltd.
). With products and services ranging from aircraft engines,
power generation, water processing, and security technology to
medical imaging, business and consumer financing, media content
and industrial products, it serves customers in more than 100
countries and employs more than 287,000 people worldwide.
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. With more than $60 billion in
financing over 10 years to various companies in the healthcare
sector, GE Capital, Healthcare Financial Services possesses an
in-depth industry know-how and expertise. General Electric
currently has a Zacks Rank #4 (Sell).