Niche Health Care Lender Opens Two Additional Offices to Support Growth

PHILADELPHIA--(Business Wire)--Specialty lending company Gemino Healthcare Finance provided funding to 12 diverse health care industry companies with total credit facilities exceeding $45 million in 2007, following its March launch. It also opened offices in Dallas and Los Angeles.

The deals include Implantable Provider Group, Inc. (www.ipgsurgical.com), which secured credit facilities totaling $8 million to help in a recapitalization of the company led by Fulcrum Ventures based in Atlanta; Advanced Diagnostic Group (www.advanceddiagnosticgroup.com), which secured credit facilities totaling $3.45 million for its expanding number of diagnostic imaging centers; and MEDSTAR (www.medstarsurgical.com), which secured $2.6 million for support as it grows its durable medical equipment provider business.

"We talked to other banks and finance institutions, but Gemino was the right fit for us and our specific need," said Jay Ethridge, CEO of IPG. "They were more flexible and met our requirements better. Gemino is able to structure things so that we have access to capital when we need it without having to overpay for it now. This allows us to grow our accounts receivables as we grow," added Ethridge.

Amir Glogau, president and CEO of Advanced Diagnostic Group and Zeb Pirzada, president and CEO of MEDSTAR said they also sought the expertise of the niche health care lender to assist in their growth and capital needs.

"Gemino's early success builds on the strong relationships and reputation that our team has developed over the last 10 years in the healthcare industry," said Mark O'Brien, Gemino vice president of sales and marketing. "Our pipeline remains strong, and we are excited about the opportunities we have to provide creative and responsive financing solutions to healthcare providers."

About Gemino Healthcare Finance (www.gemino.com)

Gemino provides senior loans to healthcare service providers throughout the U.S., with typical financing needs ranging from $500,000 to more than $10,000,000 in the form of revolving lines of credit, secured term loans, unsecured term loans and real estate financing. Its credit facilities to date total in excess of $45 million.

The firm provides financing to hospitals, surgery/outpatient centers, home care and hospice agencies, imaging centers, skilled nursing homes, distributors, transportation companies and others involved in the delivery or support of healthcare services.