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Gemino Healthcare Finance Provides $4MM to Lakeway Regional Medical Center

June 05, 2013, 07:26 AM
Filed Under: Healthcare

Gemino Healthcare Finance announced it has provided a $4 million revolving line of credit to Lakeway Regional Medical Center (LRMC). The proceeds are being used for working capital purposes. Lakeway Regional Medical Center is a privately owned, 106-bed, new construction, community hospital located in Lakeway, Texas (a suburb of Austin).  LRMC opened its doors in April, 2012.

“Lakeway Regional Medical Center is excited about its partnership with Gemino Healthcare Finance,” said John Prater, LRMC’s chief financial officer. “As a start-up full service acute care hospital Gemino provides Lakeway with the financial flexibility to pursue an aggressive ramp-up.”

Gil Brindley, managing director for Gemino, said, “Gemino is excited to partner on a line of credit to a newly constructed Hospital that is vital to the Lakeway, Texas community. We look forward to help fund LRMC’s growth.”

Gemino, headquartered in Philadelphia, provides senior loans to healthcare service providers throughout the U.S., with typical financing needs ranging from $2 million to $20 million in the form of revolving lines of credit and term loans. Gemino also has offices in Atlanta and Dallas.

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