Doctors Medical Center in California Receives $8M From Private Lender

Doctors Medical Center, a non-profit safety-net hospital based in San Pablo, Calif., received an $8 million revolving line of credit from Gemino Healthcare Finance that will be used toward capital projects, according to a Gemino news release.

DMC nearly fell into bankruptcy in October, but California Gov. Jerry Brown signed a bill that made it easier for the hospital to borrow money. That bill provided financial guarantees to lenders to help DMC pay off its $20 million debt.

In November, county voters also approved a parcel tax for DMC that brought in $5 million.

Gemino Healthcare Finance is a specialty healthcare lender based in Philadelphia.

Related Articles on Hospital Financing:

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