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Gemino Healthcare Finance Provides $5.5 Million Financing to Lydia Healthcare, LLC


Gemino Healthcare Finance (“Gemino”) today announced it has provided a $5.5 million revolving line of credit to Lydia Healthcare, LLC. The proceeds are being used to refinance existing debt.

Lydia Healthcare, LLC operates a 412-bed residential facility in Robbins, Illinois, a southwestern suburb of Chicago, providing long term care for adult patients with mental illness.

“Healthcare providers in Illinois are challenged with prolonged payment reimbursement from the state. Had it not been for Gemino and their true commitment to the healthcare industry, I would have been forced to close my facility – which provides much needed services to residents with mental illnesses,” said Susan Simonsen, Manager of Lydia Healthcare. “Gemino’s understanding of the complexity of our situation, and the one on one involvement they had with me, was remarkable.” 

Gil Brindley, Managing Director for Gemino, said, “Working with Susan was a true pleasure and, we are very happy to provide Lydia Healthcare with a working capital solution to assist with the delayed reimbursement cycle healthcare providers are being faced with in Illinois .”

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 to $20 million in the form of revolving lines of credit and term loans. Gemino also has offices in Atlanta, Dallas, Los Angeles and New York City.

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