Gemino Healthcare Finance funded an $8 million senior secured credit facility to Park Irmat Drug (Irmat) and Gideon’s Drugs. Proceeds from the loan will be used to pay off existing debt and for working capital purposes.

Irmat has operated as a retail pharmacy in New York City since 1978 and has focused primarily on dermatology products since 2011. In 2013, Irmat expanded its scope beyond the local retail platform to a national presence with mail order capabilities. Gideon’s, also located in New York, is a traditional retail pharmacy in business since 2005.

Rob Misener, managing director for Gemino, said, “The Irmat and Gideon management team has an exciting vision for the pharmacy space, and Gemino is happy to partner with them to support their growth.”

Philadelphia-based Gemino Healthcare Finance, with offices in Atlanta and Chicago, is a specialty finance company with an exclusive focus on providing senior secured loans to healthcare service providers throughout the U.S., with typical financing needs ranging from $2 million to $20 million in the form of revolving lines of credit and term loans.

Gemino is a portfolio company of Solar Senior Capital, a publicly traded business development company.