Gemino Healthcare Finance said it has provided a $7 million revolving line of credit to Agility Health and its subsidiaries. The proceeds are being used to pay off existing debt and for working capital purposes.
Agility, founded in 1968 and based in Grand Rapids, MI, is a healthcare services company that provides a variety of physical rehabilitation services and practice management systems through its multi-state network of clinics and via contracted services to hospitals, nursing homes and other institutional clients. The company is one of the top 10 rehabilitation services companies in the United States, delivering personalized care through nearly one million therapy visits annually at more than 160 service sites in 14 states nationwide.
“Agility Health is pleased to partner with Gemino Healthcare Finance as we continue to implement our strategy of outpatient clinic acquisitions and strong organic growth,” said Agility Health CFO Michael S. Valdes. “Working with Gemino will give us the added financial flexibility to pursue our core growth initiatives.”
Gil Brindley, managing director for Gemino, said, “It was a pleasure to work with the Agility Health’s management team. Their team has shown the ability to consistently grow its business and desired a credit facility to help fuel their growth. Gemino’s credit facility will do just that.”