Gemino Healthcare Finance announced that it provided a $10 million revolving line of credit to Landmark Holdings of Missouri, a multi-state operator of six long-term acute care hospitals (LTACHs). The proceeds will be used to refinance existing debt and for working capital.

Gemino partnered with Praesidian Capital, which invested $12 million in senior subordinated debt in Landmark.

Creative Health Capital acted as exclusive advisor to Landmark in arranging the senior and subordinated debt.

Tom Schneider, CEO of Gemino, said, “Dr. Kapp has done an impressive job building Landmark’s network of hospitals. We look forward to working with him and a very experienced management team. We are also pleased to have this opportunity to partner with Praesidian Capital on another healthcare transaction.”

“We have worked with Dr. Kapp and Landmark over several years and are pleased to have been able to assist in raising this capital to help the Company achieve its growth objectives,” noted Dan Brown, managing director of Creative Health Capital. “Both Gemino and Praesidian were able to work cohesively to provide a tailored capital solution, and we are confident they will be great partners for Landmark going forward.”

Based in Cape Girardeau, MO, Landmark was founded in 2006 by Dr. William Kapp III. Landmark’s free-standing LTACHs are located in Cape Girardeau, Joplin and Columbia, MO and in Athens, GA. In 2014, Landmark opened a new hospital in Salt Lake City, UT and another in Savannah, GA. A seventh facility, located in Naples, FL, is scheduled to open in September 2015.