Healthcare Specialized Asset-Based Lending

Strategic portfolio acquisition by Solar Senior Capital in 2013

Gemino Senior Secured Healthcare LLC (“Gemino”) is a commercial finance company that specializes in making primarily secured, asset-based loans for small and mid-sized companies operating in the healthcare industry

Typically provides senior debt financing starting at $2mm primarily in the form of revolving lines of credit secured by accounts receivable

Core team averages 15 years of healthcare finance experience and has originated ~$1.6bn of financing commitments

Headquartered in Philadelphia, operates satellite business development offices in Atlanta, GA and Chicago, IL and employs ~20 professionals

Small and mid-sized healthcare service providers across a wide range of industries including Hospitals, Skilled Nursing Facilities, Home Medical Equipment, Medical Laboratories, Surgery/Outpatient Care

Typically, companies are facing some form of stress or lack of available capital from traditional banks due to recent regulation

Senior secured, receivables-based underwriting

Collateral includes Medicare, Medicaid and private insurance accounts receivable

Floating rate

Fees, including upfront, unused, monitoring and float

Meaningful maintenance covenants