Gemino Provides Financing for Acquisition of Intra-Op Monitoring Services | Healthcare Business Issues

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Gemino Provides Financing for Acquisition of Intra-Op Monitoring Services

Thursday, 09 October 2008 11:59

Gemino Healthcare Finance has announced it has provided Intra-Op Monitoring Services (IOM) credit facilities totaling $9.5 million. The financing is being used to fund the acquisition of a portion of IOM led by HealthEdge Investment Partners.

Headquarterd in Covington, La., IOM is a medical diagnostic services company offering highly specialized intraoperative technology to monitor and record the functional integrity of critical neueral structures and organs in real time during high-risk surgeries.

Brian Anderson, Managing Partner of HealthEdge, said, "Gemino was a critical component in the acquisition of IOM, supporting the financing of this transaction, sharing their healthcare insight and knowledge and providing the capitacity to continue to ramp up this growth business. During these turbulent times, we appreciate Gemino's ability to step up and do deals."

Gemino Healthcare Finance provides senior loans to healthcare service providers throughout the United States, with typical financing needs ranging from $1 million to more than $10 million in the form of revolving lines of credit, secured term loans, unsecured term loans and real estate financing.

"We are excited to add HealthEdge's acquisition of IOM to our growing portfolio," said Mike Gervais, CEO of Gemino Healthcare Finance. "This transaction is a testament to Gemino's ability to provide specialty healthcare financing to meet the needs of our clients."