Siena Lending Group closed three deals with an aggregate value of $45 million in Q1/21. In addition, Siena Healthcare Finance completed a $35 million deal with a New York-based home health company during the quarter.
“In small but significant ways, we started to return to some sense of normalcy in the first quarter,” Dave Grende, president and CEO of Siena Lending Group, said. “We were pleased to provide financing solutions to several new clients while also building a robust pipeline of transactions we look forward to closing in Q2. Our new business origination team welcomed Joe Panico and Geoffrey Samuels, who are based in Cleveland and South Carolina, respectively. In addition, we added new operations team members in both our divisions.”
“Stimulus funds for the healthcare industry are running dry, so we expect liquidity to tighten and providers to start seeking more permanent working capital solutions as the year progresses,” Jennifer Sheasgreen, president of Siena Healthcare Finance, said. “As always, Siena Healthcare Finance stands ready to meet the financing needs of our healthcare clients by delivering strong working capital solutions tailored to their unique requirements. We are continuing to grow and added to our originations team with the hire of Nicholas ‘Niko’ Tsitsos, based in California.”
