To support its initiative to provide equipment financing solutions to the US health care market, Wells Fargo Equipment Finance announces it has named Peter Myhre as senior vice president of the newly formed division. Myhre will lead a team of health care finance professionals to provide equipment financing solutions to the health care market.

“With the current challenges facing healthcare, smart investments in technology and equipment are key to increasing the availability and efficiency of quality care,” said Byron Payne, executive vice president, Wells Fargo Equipment Finance. “Wells Fargo is positioned to take advantage of the significant opportunity in the large and growing healthcare equipment finance business. Peter has a track record of superior customer service and an expertise in this area; we are excited to have him join Wells Fargo.”

Myhre has 20 years of health care financing and executive management experience. Prior to joining Wells Fargo, Myhre was CEO and president of MarCap Corporation, the largest independent equipment finance company exclusively serving the healthcare market in the US.

Wells Fargo Equipment Finance Inc is a wholly owned subsidiary of Wells Fargo Bank. With a portfolio that exceeds $14 billion, Wells Fargo Equipment Finance serves more than 39,000 customers in the US and Canada.

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 11,000 stores, over 12,000 ATMs and the internet across North America and internationally.