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Capital Finance and Gemino Healthcare Finance Increase MetroSouth Medical Facility to $10 Million
Capital Finance and Gemino Healthcare Finance (“Gemino”) today announced they funded a $10 million revolving line of credit to MetroSouth Medical Center (“MetroSouth”). The proceeds from the transaction are being used for working capital purposes. Gemino will serve as co-lender and collateral agent.
MetroSouth is a full-service medical facility located in Blue Island, Illinois, approximately 16 miles south of downtown Chicago. MetroSouth provides a comprehensive range of medical services for the Chicago Southland community with 350 physicians in 45 medical specialties. The hospital has served the community from current ownership and its predecessors since 1905.
Mike Gervais, CEO of Gemino, said, “We are excited to team with Capital Finance in partnering with Metro South and funding their working capital needs. Metro South has supported the community by providing quality care in line with the nation’s top hospitals. We welcome the opportunity to provide them the support needed to grow and expand the hospital.”
Jeffrey Stein, Managing Director of Capital Finance, said, “Capital Finance is pleased to have Gemino as a co-lender on the MetroSouth transaction. This is a wonderful opportunity to provide strategic operating capital to a healthcare facility that is so important to the Blue Island community.”
About Gemino Healthcare Finance (www.gemino.com) Gemino, headquartered in Philadelphia, provides senior loans to healthcare service providers throughout the U.S., with typical financing needs ranging from $2 million and up in the form of revolving lines of credit and term loans. Gemino also has offices in Atlanta, Dallas, Los Angeles and New York City. About Capital Finance (www.capfundinc.com, www.cfgcommunitybank.com) Capital Finance, LLC, headquartered in Baltimore, is a subsidiary of CFG Community Bank that provides traditional commercial-financing loans to healthcare providers throughout the U.S. Healthcare operators gain the flexibility and cost-efficiency of a revolving line of credit secured by Medicare, Medicaid and Managed Care accounts receivable. Capital Finance is affiliated with Capital Funding, LLC the leader in providing HUD insured real estate financing to the healthcare industry.
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