PROVIDENCE – Textron Financial Corp. announced Friday that it has begun offering asset-based financing to U.S. health care providers. Textron Financial’s health care financing leverages the value of third-party claims for a range of health care providers, including hospitals, skilled nursing operators, home health agencies, and outpatient clinics, as well as manufacturers and distributors that serve the healthcare market, a Business Wire press release stated.
Patrick Quinton will lead the Healthcare Finance group as managing director.
“Patrick’s history of leading Textron Financial into new markets will be instrumental to the success of this initiative,” said Jay Carter, president of Textron Financial. “We expect Textron Financial to be the lender of choice for small and middle market health care providers.”
“Health care providers face unprecedented complexity and uncertain reimbursement dynamics,” Quinton stated. “With our combination of financial strength and expertise, we are particularly well-suited to help an industry with too few financing options address these challenges.”
Most recently, Quinton was a co-founder and managing partner of Textron Financial Mezzanine Partners L.P., a mezzanine fund targeting small and middle market growth companies. Quinton also served as vice president-credit for Textron Financial’s Growth Capital Division. Prior to joining Textron Financial, Quinton was manager of the Mezzanine Finance Group at the South Shore Bank of Chicago. Quinton has more than 17 years of commercial lending, specialty finance and mezzanine investing experience.
Textron Financial is a commercial finance company with more than $8 billion in managed and serviced finance receivables. It has core businesses in aviation, asset-based lending, distribution, golf finance, resort finance and structured capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc., a $10 billion multi-industry company and maker of Bell Helicopter and other aircraft.