Solar Senior Capital acquires Gemino Healthcare Finance

As the country's notion of universal healthcare evolves in real-time, healthcare providers poise themselves for the influx of insured patients and the need for growth. Gemino's financial products for those providers include revolving lines of credit secured by accounts receivable used to support working capital needs, as well as senior secured term loans used primarily to fund acquisitions, debt restructurings and growth.

Gemino will retain its name and operate independently. Its senior management team, which co-invested alongside Solar Senior Capital in the transaction, will continue providing leadership under the direction of Tom Schneider.  Mark O'Brien and Stacy Allen have expanded their roles and have been respectively named executive vice president of business development and underwriting and executive vice president of portfolio management and operations. Gemino's Chief Financial Officer, Mark Roscioli, will continue in his role.

The senior management team has worked together for more than 15 years and was instrumental in launching the company when it was founded in 2007.

"We believe that this transaction will allow us to compete for larger deals, provide more lending capacity to existing clients and also give us access to additional capital providers to expand the products we offer," commented O'Brien.

Since its inception, Gemino has funded approximately $340 million in loan commitments and currently has more than 30 clients and approximately $162 million in outstanding loan commitments.

"Gemino has long exhibited a superior knowledge of and a strong commitment to provide senior secured debt to the healthcare industry," says Michael Gross, chairman and CEO of Solar Senior Capital. "We believe their business complements ours and are confident there will be numerous cross referral opportunities."