CIT Group launches CIT Healthcare, names new executives

By Jennifer Chiou

New York, June 20 - CIT Group Inc. unveiled CIT Healthcare, a group that will focus on financing and advising companies in the growing health care sector.

Flint Besecker, former GE Healthcare Financial Services managing director, is the president of the new sector.

"We have gained immediate momentum since our formal inception, and the market opportunity is very promising. In the United States alone, healthcare expenses consume over 15% of the GDP," Besecker said in a news release.

"As our current and future clients invest to keep pace with advances in medical technology and service delivery, CIT Healthcare will serve as a valuable partner."

CIT also named Steven N. Warden and Margaret Au Brown as executive vice presidents of CIT Healthcare.

Warden will oversee activities in the hospital sector and Brown will be responsible for efforts in outpatient services, ancillary services and medical devices and distribution.

Previously, Warden was the strategic relationship group managing director while Brown was managing director and team leader, both at GE Healthcare Financial Services.

"We are quickly transforming to a client-centric, industry-focused model and CIT Healthcare will provide comprehensive financing solutions to our customers by effectively leveraging our extensive knowledge and understanding of the healthcare industry, and our $60 billion A rated balance sheet," said vice chairman Rick Wolfert in a news release.

The New York-based company provides financing and leasing capital to worldwide companies.

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