Gemino Healthcare
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Author: Kaitlyn Short
LAST UPDATED: June 27th, 2019
Intro to Gemino Healthcare Financing
In 2007, a group of senior healthcare financing executives founded Gemino Healthcare Finance to fulfill the need for specialty financing with the focus on providing senior loans to healthcare service providers nationwide. The senior management team has over fifty years of healthcare finance experience and their team has originated more than $1.3 billion of financing commitments. Gemino has built their business model around relationship0building which has allowed them to maintain a reputation build on responsive service and a relationship-driven outlook. Solar Senior Capital Ltd. acquired Gemino in 2013.
Top Ranked Companies
The Good
- Partnerships
- Loan products
- Eligible accounts
Partnerships
Gemino works with the individual to find a collaborative solution to fund most healthcare financing needs. Since Gemino has built strategic partnerships within the healthcare industry, they have the relationship necessary to find the best approach for each patient. The Gemino team structures each arrangement without hidden fees or ulterior pricing motives.Loan Products
Gemino offers two different loan products to their customers: revolving lines of credit and term loans. Each platform comes with various benefits, but Gemino will help each patient identity the solution that best suits their healthcare needs. The Gemino loan products are broken down as follows: Revolving Lines of Credit: allows healthcare service providers to enhance their cash flow.- Secured by accounts receivable
- Used for working capital,
- Acquisitions,
- Refinancing existing debt,
- Other general purposes
- Used for acquisitions,
- Internal growth,
- Leveraged buyouts,
- Other general corporate purposes
Eligible Accounts
Allowing healthcare providers to enhance their cash flow is a big draw for those looking to obtain a healthcare finance loan. They are secured by accounts receivable and that money can service a number of needs. Eligible accounts receivables include: Medicare, Medicaid, commercial insurance, and institutional accounts receivable.The Bad
- Financing for healthcare companies
- Strict about funding
- Lack of information
Financing for Healthcare Companies
A patient would not go directly to Gemino for a healthcare loan. Instead, Gemino provides financing to healthcare companies. Since it is expensive to get started in the healthcare industry, Gemino can help those with a reputable idea fund their business. Gemino doesn't provide individual loans for patient needs, but they do provide loans to those who could potentially provide a service patients will one day need. Gemino typically funds projects ranging from $2 million to $20 million in the form of both revolving lines of credit and term loans.Strict about Funding
Gemino Healthcare Finance doesn't just fund companies in any healthcare speciality. While Gemino doesn't explicitly draw a line as to what forms of healthcare products they will fund, they do specialize in certain areas. Typically, Gemino works with businesses in the realm of providing the following services:- Behavioral Health
- Home Health Hospice
- Hospitals
- Skilled Nursing Homes
Lack of Information
Since there is so much that goes into determining the loan (including loan type, money needed, business model, etc.) it is impossible to state exactly how much interest a company will be required to pay. A number of factors will determine the APR and loan amounts. Gemino will, however, work with the client to find the best loan structure and rate to help grow the company.The Bottom Line
- Business development
- Credit/Due Diligence
- Portfolio and Collateral Monitoring
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