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Gemino Healthcare Finance Provides $20MM ABL Facility to Nyack Hospital

March 09, 2017, 07:00 AM
Filed Under: Healthcare

Gemino Healthcare Finance continues to expand its portfolio and has recently funded a $20 million senior secured asset-based revolving credit facility to Nyack Hospital. Proceeds from the loan will be used to pay off existing debt and for working capital purposes.

Nyack is a 375-bed, not-for-profit, community acute care medical and surgical hospital, which was founded in 1895 and is located in Rockland County, NY.

“We are pleased to be working with Gemino,” said John Burke, Chief Financial Officer for Nyack Hospital. “They understand our industry and provided a very efficient process to complete this financing.”

Rob Misener, Managing Director at Gemino Healthcare Finance, said, “We’re proud to partner with the Nyack management team as they continue to enhance the breadth and quality of the services they provide to the community of Rockland County.”

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