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SYNCHRONY FINANCIAL

(SYF)
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Synchrony Announces Expansion in Equine Market with New CareCredit Financial Solutions and Digital Capabilities

07/22/2021 | 09:00am EDT

Synchrony announced its expansion in the equine market with its CareCredit credit card, the leading promotional financing solution for consumer healthcare and veterinary care. The CareCredit contactless payment solution will bring point-of-care innovation to equine veterinary practices and make it easier for veterinarians to collect payment for services from any location where they are providing care. In addition, the company further solidified its dedication to the industry by becoming an American Association of Equine Practitioners (AAEP) Educational Partner, joining a distinguished group of organizations committed to the equine veterinary profession, and health and welfare of the horses. The first-of-its-kind partnership with a healthcare financing company will allow AAEP members to access educational resources designed to strengthen the business side of equine practice and increase the financial health of the equine profession by bringing the benefits of CareCredit's financial solutions to horse owners. Equine veterinarians have access to CareCredit's digital tools designed to accommodate equine workflows and cash flow, including an all-in-one financing experience that gives horse owners a seamless way to learn about, apply, prequalify and pay with their CareCredit card anytime, from anywhere on their mobile device. Veterinarians also have access to a suite of digital capabilities and personalized resources such as a unique QR code and custom link that work wherever equine teams provide care, whether in the clinic, at the barn or in the field. According to CareCredit's 2020 Equine Veterinarian Practice Survey, equine veterinarians are increasingly looking for payment solutions to enhance client relationships: 75% of equine veterinarians surveyed and 40% of equine practice staff say they have negative feelings about payment conversations with clients. When asked the one thing they could do to create a great financial relationship with clients, the top answer from equine veterinarians was "offer payment options." 68% of veterinarians surveyed agree CareCredit can provide help via technology, payment solutions and resources. The expansion of CareCredit's availability to the equine industry is evidence of Synchrony's commitment to empower veterinarians and their clients to provide a lifetime of care for horses. From planned visits to unexpected treatments to specialty care, horse owners and equine veterinarians can benefit from a dedicated solution to pay for the care horses need through every stage of life. CareCredit's financing solution keeps equine veterinarians at the heart of care by helping horse owners manage the cost of care with simple, budget-friendly financing options. Clients can pay at the time of service and practices can get paid quickly. Clients get peace of mind about payment, while practices achieve greater certainty about cash flow. The company offers a user-friendly, online?calculator?that makes it easy for them to quickly estimate monthly payments based on available financing options. CareCredit also gives clients the ability to pay no interest as long as they pay the complete amount within the promotional period and make minimum monthly payments. By offering different promotional financing options, CareCredit enables price transparency and empowers clients to access care when they need it most.


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Financials (USD)
Sales 2021 10 142 M - -
Net income 2021 3 832 M - -
Net Debt 2021 6 342 M - -
P/E ratio 2021 7,32x
Yield 2021 1,83%
Capitalization 27 739 M 27 739 M -
EV / Sales 2021 3,36x
EV / Sales 2022 3,02x
Nbr of Employees 16 500
Free-Float 67,4%
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Number of Analysts 21
Last Close Price 48,69 $
Average target price 56,20 $
Spread / Average Target 15,4%
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Managers and Directors
Brian D. Doubles President, Chief Executive Officer & Director
Brian J. Wenzel Chief Financial Officer & Executive Vice President
Margaret M. Keane Executive Chairman
Carol Juel EVP, Chief Technology & Operating Officer
Jeffrey G. Naylor Lead Independent Director
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