Gemino Healthcare Finance Provides $2.5 Million Financing To Pediatria Healthcare LLC
Gemino Healthcare Finance today announced it has provided a $2.5 million revolving line of credit to Pediatria Healthcare LLC (“Pediatria”). The credit facility will fund Pediatria’s growth and provide them with working capital.
Pediatria, headquartered in Norcross, Georgia, provides healthcare services to medically complex and fragile children across a continuum of care. Services are primarily delivered through a network of day treatment facilities (Prescribed Pediatric Extended Care – PPEC) and private duty nursing (PDN). Currently, Pediatria operates (6) PPEC facilities and offers PDN in (5) locations in Georgia, Pennsylvania and Massachusetts. The company has an aggressive growth plan in place for the remainder of 2008 and into 2009.
The company was founded in 2006 by management and MidMark Capital, a Morristown, NJ based private equity fund.
Joe Sansone, CEO of Pediatria, said, “We are pleased to have closed this transaction with Gemino, especially in such a difficult lending environment. We appreciate everyone’s confidence in Pediatria’s business strategies and look forward to a long and mutually beneficial relationship.”
Mark O’Brien, VP of Sales & Marketing for Gemino, said, “We are excited to add Pediatria to our growing list of clients and are proud to help them provide such a tremendous, cost-effective service to very young medically complex children. They have a seasoned management team and are positioned to grow rapidly. This is our second transaction with MidMark Capital and we look forward to working with them again.”