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Gemino Healthcare Finance Provides $25MM to Southern Regional Health System

October 21, 2014, 07:51 AM
Filed Under: Healthcare

Gemino Healthcare Finance announced it has provided a $25 million secured revolving line of credit to Southern Regional Health System. The proceeds are being used for working capital purposes.

Located in Riverdale, Georgia, Southern Regional is a licensed 331-bed full-service hospital that serves residents throughout the region south of Atlanta and has been recognized on the state and national level for the quality of care provided. Southern Regional holds the distinction of being certified as an accredited Chest Pain Center and an Advanced Primary Stroke Center. Southern Regional is also recognized as an Accredited Center for Metabolic and Bariatric Surgery by the American College of Surgeons.  Southern Regional is a member of the Emory Health Network.

"I am pleased that the Gemino leadership team has worked with us to create a 'win-win' scenario in terms of ease of loan administration and positive customer service,” said Jay Hoffman, Senior Vice President & CFO for Southern Regional. “We look forward to a longstanding relationship with Gemino over the coming years as we proceed with our business turnaround."

Mark O’Brien, Executive Vice President of Business Development and Underwriting for Gemino, said, “We are very excited to close this facility with Southern Regional. Jay Hoffman and his team have done an outstanding job in restructuring their balance sheet and have recently taken some significant steps forward to improve their financial performance. Southern Regional has served Clayton County and south Atlanta for over 40 years and is an essential part of the community. We are pleased to have Southern Regional as the first health system deal in Georgia and they are a significant addition to Gemino’s portfolio.” 

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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