GE Capital, Healthcare Financial Services, an operating unit of General Electric Company (GE - Free Report) , recently acted as the administrative agent and lender to close a term loan worth $10 million for Skylight Healthcare Systems, Inc. The transaction will likely enhance the liquidity of Skylight Healthcare and facilitate its working capital requirements to fuel further growth.
San Diego-based Skylight Healthcare is a premier provider of interactive patient care, supporting the continuum of a patient’s "journey of care" -- before, during and after the hospital stay.
Since its inception in 1999, the company has focused on interactive patient care technology for more than 1.2 million patient stays a year in more than 70 hospitals. In order to further expand opportunities for patient engagement solutions, Skylight Healthcare seeks to grow both organically and inorganically through acquisitions of companies that complement its product offerings.
The debt financing by General Electric is expected to go a long way for this initiative. At the same time, the inventory and working capital financing will enable Skylight Healthcare to address the cash conversion cycle to further develop its business.
Serving over 100 million customers worldwide, General Electric is one of the largest and the most diversified technology and financial services corporations in the world, 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. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
With more than $60 billion debt financing transactions in the last 10 years across 45 healthcare sectors, GE Capital, Healthcare Financial Services has an in-depth industry know-how and expertise as a reliable debt provider.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth considering now in the industry include United Technologies Corp. (UTX - Free Report) , Hutchison Whampoa Ltd. and Macquarie Infrastructure Company LLC (MIC - Free Report) , each carrying a Zacks Rank #2 (Buy).