Daily News: January 11, 2012

Gemino Healthcare Finance Provides $8MM to Doctors Medical Center

Gemino Healthcare Finance announced it has provided an $8 million revolving line of credit to Doctors Medical Center (DMC). The proceeds are being used for working capital purposes.

Located in San Pablo, CA, Doctors Medical Center is a full-service, acute care hospital with 189 beds and 122 active physicians, serving the residents of West Contra Costa County for over 55 years. DMC is owned and operated by the West Contra Costa Healthcare District and is a non-profit community hospital.

“This financing provides the hospital access to cash necessary to bridge to full implementation to our turnaround plan,” said Dawn Gideon, interim president and CEO. “With Gemino’s support this safety net hospital will continue its service to the community without interruption.

Mark O’Brien, VP of Sales and Marketing for Gemino, said, “Doctors Medical Center has provided a vital service to the West County community for many years and continues to receive support from the community. We are excited to add Doctors to our growing portfolio of healthcare clients.”

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.