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CIT Vendor Finance, U.S. Expands Its Healthcare Equipment Vendor Financing Group
Wednesday, April 17, 2013 08:30 AM
CIT Vendor Finance, U.S. is focused on investing in growth opportunities within the healthcare space

LIVINGSTON, NJ — CIT Vendor Finance, US, a leading provider of business solutions to small and middle market companies acquiring equipment and value-added services, today announced the expansion of its U.S. Healthcare Equipment Financing group with the appointments of Timothy Morris, William Tice, Charles Phillips and Ian Fine as sales managers. They will be responsible for originating and developing new, as well as managing existing, manufacturer and distributor relationships within the healthcare industry that cover the healthcare IT, diagnostic imaging, eye care, surgical, dental and veterinary markets geared toward hospitals, physicians, dentists, veterinarians and long term care facilities.

“CIT Vendor Finance, U.S. is focused on investing in growth opportunities within the healthcare space,” said Nick Small, Managing Director, CIT Vendor Finance, US. “We continue to see great opportunity in the healthcare equipment market. The addition of these members to the healthcare team will help us to better serve our vendors and customers.

CIT offers a number of product offerings to address the financial needs of healthcare professionals and companies of all sizes. These include small ticket equipment financing through CIT Global Vendor Finance, as well as cash flow and asset-based loans, M&A advisory services, and capital equipment financing through CIT Corporate Finance.

Timothy Morris

  • Morris has almost 20 years of experience in the healthcare market, most recently with London Leasing where he served as Strategic Sales Lease Manager for their healthcare division. Prior to London Leasing, he founded MedTech Funding Group, which focused on diagnostic imaging, medical software, ophthalmic, ENT, Endoscopy and surgery equipment. Before founding MedTech, Morris worked at Summit Funding Group, Everbank and Court Square Leasing.

William Tice

  • Prior to CIT, Tice  served as President of  Integrity Medical Capital, which  focused on mid-market medical equipment vendors covering X-Ray, PET, CT MR scanners, excimer and femtosecond ophthalmic lasers, cosmetic lasers, 3D rendering software, cardiac diagnostic equipment and other asset types. Prior to Integrity, he served as Vice President of PFT Medical Finance (now PNC Equipment Finance), The Hillside Group, MLC International and American Medical Optics.   

Charles Phillips

  • Phillips was most recently with Marlin Business Services / Marlin Leasing as a senior business development manager in their healthcare finance group. Prior to Marlin, he was with Trinity Vendor Finance, a division of Bank of the West where he had business development responsibilities. Prior to that, he had a series of positions of increasing responsibility at companies such as Huntington Equipment Finance, De Lage Landen, CitiCapital and AT&T Capital.

Ian Fine

  • Fine was most recently with Key Equipment Finance as a sales representative focused on the Healthcare middle market. Prior to Key Equipment Finance, he was at Maxim Healthcare services as a senior sales recruiter, managing relationships and coordinating staffing needs for hospitals and skilled nursing facilities.

About CIT Global Vendor Finance
CIT Global Vendor Finance creates tailored equipment financing and leasing programs for manufacturers, distributors and product resellers across industries that are designed to help them increase sales. It is a leader in developing business solutions for small businesses and middle market companies for the acquisition of equipment and value-added services. Through these programs, it provides equipment financing and value-added services, from invoicing to asset disposition, to meet its customers’ needs.

About CIT
Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank, offers a suite of savings options designed to help customers achieve a range of financial goals.


C. Curtis Ritter
Director ofCorporate Communications
(973) 740-5390

Matt Klein
Vice President, Media Relations
(973) 597-2020