Santander Bank, N.A. announced the expansion of its Commercial Equipment and Vehicle Finance business to include commercial equipment financing to healthcare organizations. The new, nationwide offering will provide financing for state-of-the-art medical technology and equipment to hospitals and health systems, out-patient clinics, and specialized providers.
“The pandemic brought to center stage how pivotal medical equipment is to our healthcare infrastructure,” said Michael Lee, Managing Director at Santander Bank. “Healthcare 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 our healthcare finance business. This expansion will provide the opportunity to serve clients whose products and services help respond to chronic diseases and care for an aging population.”
Backed by Banco Santander, one of the leading global banks, Santander’s healthcare finance unit will leverage the Commercial Equipment and Vehicle Finance Division’s existing infrastructure to help clients quickly and reliably execute transactions on a national scale.
This national business will be led by industry veteran John Pack, Market Director for Santander Healthcare. Pack brings 25 years of successful healthcare equipment finance experience to his new role. During his extensive career, he developed national programs in the healthcare equipment financing market. Most recently, he was Healthcare Finance Business Development Director at market leaders Huntington Bank and TIAA Equipment Finance. Pack will report to Peter LaMariana, Managing Director, Santander Bank Commercial Equipment and Vehicle Finance.
“Santander is very excited to have John, who is a proven industry expert in healthcare equipment financing, join our team,” LaMariana said. “Our approach will mirror industries that we have become financing leaders in. Our strategy is simple: staff with industry experts and exceed our customers’ needs with the products and service to build long-term relationships.”
Pack will be based in Santander Bank’s office in Melville, NY.