Gemino Healthcare Finance provided a $6 million senior secured credit facility to SRC Operations, an affiliate of Wingate Healthcare. Proceeds from the loan were used to pay off existing debt and for working capital purposes.
A family-owned business for nearly three decades, Wingate operates senior living communities throughout New England that encompass the full continuum of care from independent and assisted living to skilled nursing and memory care.
“The team at Gemino has been great to work with – creative and well organized,” said Scott Schuster, founder and president.
Rob Misener, managing director at Gemino, said, “We’re excited to partner with the high-quality team at Wingate. This credit facility provides additional liquidity to help improve and grow the business.”
Based in Philadelphia, Gemino Healthcare Finance is a specialty finance company with an exclusive focus on providing senior secured loans to healthcare service providers throughout the U.S.
