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New Deal


Announced

Completed

TIAA Bank acquired the healthcare equipment finance unit of General Electric.

Financials

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Transaction Value£1,155m
Consideration Type-
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Medical Equipment

Completed

medical devices

Private

Acquisition

Synopsis

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TIAA Bank, an American diversified financial services company providing banking, mortgages, and investing services, acquired the healthcare equipment finance unit of General Electric for $1.5bn. This significantly expands TIAA Bank’s commercial banking business and enhances its ability to provide a full range of financial solutions to institutional clients and serve an even greater number of healthcare providers. The sale comes as GE Capital seeks to become smaller and more focused.

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