Daily News: May 21, 2014

Gemino Healthcare Provides Financing to Providence Group

Gemino Healthcare Finance announced it has provided an $8 million secured revolving line of credit to Providence Group. The proceeds are being used to pay off existing debt and for working capital purposes. Cascade Partners served as exclusive financial advisor to Providence Group.

Gil Brindley, vice president of Business Development for Gemino, said, “We are thrilled to add another SNF Management company to our growing portfolio. We are seeing plenty of activity in that space, and thankful to have a thoughtful management team like Providence Group as a new client. They have been very active in the last year, and are eager to grow. We look forward to helping them.”

National City, CA-based Providence Group operates two skilled nursing facilities in the San Diego area; five skilled nursing facilities and two assisted living facilities in Kentucky.