In 2013, SLR entered the healthcare specialized ABL space through SLR Senior Investment Corp.'s acquisition of Gemino Healthcare Finance (“Gemino”). Gemino specializes in making secured, asset-based loans for small and mid-sized companies operating exclusively in the healthcare industry. Gemino's team has originated approximately $1.5 billion of financing commitments since their inception in 2007.
Gemino was renamed SLR Healthcare ABL in 2021.
Small and mid-sized healthcare service providers across a wide range of industries including Hospitals, Skilled Nursing Facilities, Home Medical Equipment, Medical Laboratories, and 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
Fees, including upfront, unused, monitoring and float
Meaningful maintenance covenants
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