Physicians looking to go it alone in this economy need all the help they can get. Wells Fargo is looking to provide that assistance.
The Emeryville, Calif.-based financial services company, which boasts more than $1.2 trillion in assets, on Thursday unveiled Wells Fargo Practice Finance, a rebranded and expanded division designed to help physicians launch, grow or purchase their own private practices.
“As Wells Fargo Practice Finance, we will continue to distinguish ourselves by providing trusted guidance through specialized expertise, our focus on education and our commitment to our clients' success," said division president Allison Farey in an Oct. 14 press release. “With our integration into Wells Fargo complete, we are excited to offer even greater levels of support by connecting our customers with the right resources at the right time.”
Formerly known as Matsco, the 20-year-old division, which focuses on medical, dental, veterinary and optometric professionals, was included in Wells Fargo’s acquisition three years ago of Greater Bay Bancorp. It offers start-up and practice acquisition financing, equipment, expansion and practice equity loans and commercial real estate financing, as well as consulting services.
The division has been endorsed by the American Dental Association Business Resources for practice financing and commercial real estate, and has been named the preferred provider of practice financing for members of the American Medical Association and American Animal Hospital Association.
“Running my own practice was always a dream, but there were times when I didn’t know if I could actually make it work,” said Gregory Liberatore, DDS, of Liberatore Family Dental in Balston Spa, N.Y., in a press release supplied by Wells Fargo. “The Wells Fargo Practice Finance team provided so much more than just the financial backing. From their expert advice to aligning me with the right resources, they gave me the confidence to move forward.”