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Gemino Healthcare Finance Provides $5MM to VNA California

November 07, 2014, 07:21 AM
Filed Under: Healthcare

Gemino Healthcare Finance announced it has provided a $5 million secured revolving line of credit to VNA California. The proceeds are being used for working capital purposes.

Founded in 1931, VNA California is a non-profit provider of home health, palliative and hospice services to patients, their caregivers and families throughout the Riverside and San Bernardino, and North San Diego Counties of Southern California. Their professional services also include extensive outreach education and charitable support for the communities they serve. VNA California provides over 270,000 visits annually to more than 20,000 clients.

“Our 83 year legacy of providing community-based health services in Riverside and San Bernardino is a testament to our organization's ability to anticipate the needs of the communities we serve and adapt to the ever-changing healthcare system,” said Michael A. Rusnak, President and Chief Executive Officer for VNA California. “We are pleased to have Gemino as our financial partner and look forward to establishing a long-term relationship with them to provide us the necessary working capital to grow our business.”

“VNA California has a strong reputation and a long history of providing quality home healthcare and hospice services,” said Mark J. Locher, Gemino’s Managing Director for the Western region. “We are excited to start a new partnership with Mike and his experienced management team given their significant presence and dedication to their community and the home healthcare industry.”

Gemino Healthcare Finance, a portfolio company of Solar Senior Capital Ltd., provides senior loans to healthcare service providers throughout the U.S in the form of revolving lines of credit and term loans.

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