SOURCE: Gemino Healthcare Finance

Gemino Healthcare Finance

January 26, 2011 10:15 ET

Gemino Healthcare Finance Secures $50 Million Credit Facility From Wells Fargo Capital Finance

PHILADELPHIA, PA--(Marketwire - January 26, 2011) -  Gemino Healthcare Finance ("Gemino"), a premier finance company focused solely on providing senior loans to healthcare service providers, announced it has closed a $50 million senior credit facility with Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC). The funds are being used to facilitate Gemino's continued growth and to provide additional support to their growing portfolio of healthcare companies.

"We are pleased to have expanded our balance sheet with the addition of the Wells Fargo credit facility. Wells Fargo has an excellent reputation as a highly selective lender to the financial services industry and this new partnership further validates Gemino's success," commented Stacy Allen, Vice President and Treasurer of Gemino.

Mike Gervais, Gemino's CEO, adds, "We are excited to be partnering with Wells Fargo. We appreciate their support as we continue to expand our business. With our strong financial results, this increased credit capacity, and our market presence, we are well positioned to execute further on our strategic growth plan." 

"We are pleased to have been able to provide Gemino with this new credit facility," said Andrea Petro, executive vice president and head of the Lender Finance Division of Wells Fargo Capital Finance. "We look forward to working with the company in support of its strategic plans."

About Gemino Healthcare Finance
Gemino is a leading commercial finance company focused exclusively on providing senior loans to healthcare providers throughout the U.S. Gemino's products provide financing for internal growth, acquisitions and working capital. Typical financing needs range from $2 million and up in the form of revolving lines of credit and term loans. The company is headquartered in Philadelphia, PA, with offices in Atlanta, Dallas and Los Angeles. For more information, visit www.gemino.com.

About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior secured financing, accounts receivable financing and purchase order financing to companies across the United States and Canada. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting, timeshare development and others. It is part of Wells Fargo & Company (NYSE: WFC), a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. For more information, visit wellsfargocapitalfinance.com

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