Daily News: June 5, 2013

Gemino Provides Financing to Lakeway Regional Medical

Gemino Healthcare Finance announced it has provided a $4 million revolving line of credit to Lakeway Regional Medical Center. The proceeds are being used for working capital purposes.

Lakeway Regional Medical Center is a privately owned, 106-bed, new construction, community hospital located in Lakeway, TX (a suburb of Austin). LRMC opened its doors in April, 2012.

“Lakeway Regional Medical Center is excited about its partnership with Gemino Healthcare Finance,” said John Prater, LRMC’s chief financial officer. “As a start-up full service acute care hospital Gemino provides Lakeway with the financial flexibility to pursue an aggressive ramp-up.”

Gil Brindley, managing director for Gemino, said, “Gemino is excited to partner on a line of credit to a newly constructed Hospital that is vital to the Lakeway, TX community. We look forward to help fund LRMC’s growth.”