CIT Expands Healthcare Equipment Vendor Financing Group

CIT Vendor Finance announced the expansion of its healthcare equipment financing group, including the addition of Lou Altobelli, Jr. in Illinois, John Pack in Pennsylvania and Doreen Cropp in California. They will focus on originating vendor financing programs and assisting manufacturers and resellers of healthcare equipment in financing programs for their clients.

Altobelli previously worked for U.S. Bank Equipment Finance, where he served as vice president of Business Development for the Vendor Finance Group. Prior to the Business Development role, he was national sales manager. He also worked at GE Healthcare Financial Services as manager of Strategic Alliances for GE Ultrasound and at American Express Business Finance as vice president of Sales for Healthcare Finance.

Prior to CIT, Pack was with Key Equipment Finance, where he served as VP of Business Development for its Global Healthcare Vendor Services division. Prior to this role he was at USXL/EverBank as director of Relationship Management and Business Development.

Cropp previously worked for U.S. Bank Equipment Finance, where she was vice president of Business Development for Healthcare and Technology. Prior to U.S. Bank she was at Citigroup, also in a Business Development role. She also founded and served as CEO of Centaur Financial Services.

“Healthcare has been a core industry for CIT for many years,” said Nick Small, managing director, CIT Vendor Finance, U.S. “In Vendor Finance, we see great opportunity in the healthcare equipment market, and are now placing renewed focus on equipment financing to this core industry by adding strong and knowledgeable sales talent to our team. The experience they bring and their concentration on Vendor programs, will contribute to the overall growth of CIT Vendor Finance, U.S.”