Santander Bank in Boston has started offering commercial equipment finance products to health care organizations.
The $93.9 billion-asset company said in a press release that Santander Healthcare is an extension of its commercial equipment and vehicle finance business. Clients will include hospitals and health systems, out-patient clinics and specialized providers.
“The pandemic brought to center stage how pivotal medical equipment is to our health care infrastructure,” Michael Lee, a managing director at Santander Bank, said in the release.
“Health care is an ever-evolving and changing industry and places greater demand for broader lending, which is why this was the perfect time for us to launch” the business, Lee added. “This expansion will provide the opportunity to serve clients whose products and services help respond to chronic diseases and care for an aging population.”
John Pack was named market director for Santander Healthcare. Pack’s background includes stints as healthcare finance business development director at Huntington Bank and TIAA Equipment Finance.
Pack will be based in Melville, N.Y.