Daily News: October 12, 2017

Gemino Provides $20MM ABL Facility to Medical Services of America

Gemino Healthcare Finance served as sole lender for a $20 million senior secured asset-based revolving credit facility to Medical Services of America. Proceeds from the loan will be used to pay off existing debt and for working capital purposes.

Lexington, SC-based MSA is a comprehensive home healthcare provider that operates in 13 states. The company provides skilled home healthcare, hospice, home medical equipment services, pharmacy services, respiratory services and other ancillary products and services.

Wayne Jeffcoat, COO at Medical Services of America, said “The ABL credit facility gives MSA the lending flexibility its needs to continue to be a leader in the post-acute healthcare sector and will further MSA’s vision to be a ‘total home health care’ provider.”

“MSA has developed a strong reputation in the home healthcare industry for many years,” said Mark O’Brien, Executive Vice President of Business Development at Gemino. “We are proud to partner with the MSA management team as they continue to provide quality outcomes for their patients and the community.”

Based in Philadelphia with offices in Atlanta and Chicago, Gemino Healthcare Finance is a specialty finance company with an exclusive focus on providing senior secured loans to healthcare service providers throughout the U.S.