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Gemino Healthcare Finance Provides $5MM to Healthcare Plus Management, Affiliates

April 29, 2014, 07:19 AM
Filed Under: Healthcare

Gemino Healthcare Finance announced it has provided a $5 million secured revolving line of credit to Healthcare Plus Management and Affiliates. The proceeds are being used to pay off existing debt and for working capital purposes.

Headquartered in Palatine, Illinois, a suburb of Chicago, Healthcare Plus provides a wide array of home healthcare, professional therapy, caregiver and hospice services to seniors and the disabled in the Chicago area and the surrounding counties in Northern Illinois.

“Healthcare Plus Management provides services to seniors and other vulnerable members of our community,” said Aziz Lalji, Controller and Executive Director for Healthcare Plus.” The challenges are not only unique but are also very complex. In Gemino, we have found a partner who not only understands these challenges but, supports us in our endeavors to grow and provide services to the needy members of our community. We look forward to a long and mutually beneficial partnership with Gemino Finance.”

Gil Brindley, Vice President of Business Development, said, “Gemino is excited to add another client to our growing portfolio. The team at Healthcare Plus was a pleasure to work with and we look forward to seeing their business grow with the proceeds from our credit facility.”

Gemino Healthcare Finance, a portfolio company of Solar Senior Capital Ltd., 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.

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