SLR Healthcare ABL

What SLR Healthcare ABL does

SLR Healthcare ABL is a healthcare-focused asset-based lender providing senior secured financing to U.S. healthcare service providers. Founded in 1998 (originally as Gemino Healthcare Finance, rebranded in February 2021), the firm operates as a portfolio company of SLR Investment Corp (NASDAQ: SLRC) and an affiliate of SLR Capital Partners, LLC. The firm has completed over $2 billion in cumulative healthcare financings across 187 customized transactions, making it the longest-tenured dedicated healthcare ABL team in the market. Its core product is an asset-based revolving line of credit ranging from $2 million to $250 million, collateralized by receivables from Medicare, Medicaid, commercial insurers, and institutional payors.

The product suite comprises three integrated offerings: (i) asset-based revolving lines of credit (the primary product, used for working capital, refinancing, acquisitions, management buyouts, and recapitalizations), (ii) senior term loans for sponsor-backed borrowers based on proven historical cash flow (used for acquisitions, internal growth, and leveraged buyouts), and (iii) first-mortgage real estate loans typically ranging from $1 million to $10 million (for new property acquisition, refinancing, and bridge-to-HUD financing for skilled nursing facilities). All three products are structured and customized to each borrower's circumstances, with particular attention to navigating healthcare-specific regulatory complexity including Corporate Practice of Medicine (CPOM) restrictions, Change of Ownership (CHOW) requirements, and inter-creditor negotiations.

The business operates through three regional offices (Bala Cynwyd headquarters, Atlanta, and San Francisco) and an 11–50 employee base supported by 250+ years of combined team experience. The go-to-market is relationship-driven, anchored in direct business development by senior executives, a referral network of accountants, brokers, and financial advisors, and active membership in industry associations (ACG, RMA, SFNet, TMA). The firm leverages the broader SLR Capital Partners platform—encompassing approximately $9.1 billion in regulatory AUM as of December 2024—to support larger credit facilities and cross-entity deal collaboration. Typical clients have annual revenue exceeding $20 million and financing needs of $2–$250 million, spanning inpatient providers, outpatient services, and specialty healthcare segments.

Name

SLR Healthcare ABL

Legal name

SLR Healthcare ABL

Website

https://slrhealthcareabl.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

SLR Healthcare ABL provides asset-based revolving credit ($2M–$250M), senior term loans, and real estate loans to U.S. healthcare providers, financing Medicare, Medicaid, and commercial insurance receivables across hospitals, skilled nursing, staffing, and medical device sectors.

Ownership category

akta.pro rank

Product category

Healthcare Asset-Based Lending

NAICS

Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Asset-Based Lending (ABL) (FSANADAD)

akta.pro secondary industries

Direct Lending — Asset-Based Lending (ABL) (FSAHAJAE), Balance-Sheet / Portfolio CRE Lending (FSALADAG)

Keywords

• Asset-based lending
• Healthcare financing
• Revolving lines of credit
• Senior term loans
• Real estate loans

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Asset-Based Revolving Lines of Credit: Core revenue stream from revolving lines of credit ranging from $2,000,000 to $250,000,000. Interest-bearing facilities backed by healthcare receivables including Medicare, Medicaid, commercial insurance, and institutional accounts receivable. These facilities provide working capital, refinancing, acquisitions, and management buyout financing.
2. Senior Term Loans: Term loans offered in conjunction with revolving lines for companies with financial sponsors. Based on proven historical cash flow, used for acquisitions, internal growth, and leveraged buyouts. Supplemented to revolving credit facilities as a bundled offering.
3. Real Estate Loans: First mortgage financing offered alongside revolving lines of credit. Used for new property acquisition, exercising purchase options, refinancing existing properties, and as bridge to HUD for skilled nursing facilities. Loan sizes typically range from $1 million to $10 million.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

SLR Healthcare ABL originates asset-based revolving lines of credit ($2 million to $250 million) for U.S. healthcare service providers, collateralized by third-party healthcare receivables (Medicare, Medicaid, commercial insurance, institutional accounts). Its lending relationships are typically structured as a revolving credit facility, supplemented in certain cases by a senior term loan and/or a first-mortgage real estate loan ($1MM–$10MM) as a bundled financing solution for working capital, acquisitions, refinancings, leveraged buyouts, and recapitalizations.

Product overview

SLR Healthcare ABL is a healthcare-focused asset-based lending firm providing three integrated financing products: asset-based revolving lines of credit (primary product), senior term loans, and real estate loans. All products are customized to each client's unique circumstances and are designed to work together as a comprehensive financing solution, with revolving lines often supplemented by term loans or real estate financing depending on client needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Asset-Based Revolving Lines of Credit Flexible revolving lines of credit from $2 million to $250 million for U.S. healthcare providers, collateralized by Medicare, Medicaid, commercial insurance, and institutional accounts receivable. Used for working capital, refinancing existing debt, funding acquisitions, management buyouts, recapitalizations, and general corporate purposes. Targeted at healthcare providers with $20MM+ annual revenue whose financing needs are underserved by traditional banks.
• Senior Term Loans Senior term loans underwritten on proven historical cash flow, offered in conjunction with revolving lines of credit for healthcare providers that have a financial sponsor or other capital partner. Used to fund acquisitions, internal growth, and leveraged buyouts; typically bundled with the asset-based revolver as a comprehensive financing solution.
• Real Estate Loans First-mortgage real estate loans ($1MM–$10MM) offered alongside revolving lines of credit for healthcare real estate. Used for new property acquisition, exercising purchase options, refinancing or recapitalizing existing properties, and as bridge financing to HUD for skilled nursing facilities. Typically provided as a complement to the borrower's asset-based revolver.

Quantifiable outcome

• Over $2 billion in healthcare financings completed since 1998
• +2 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered minor.

• SLR Life Science Finance (an affiliate entity)minorStrategic or Co-development PartnerSLR Life Science Finance is an affiliated entity within the SLR Capital Partners platform. In at least one transaction (Global Medical Device Company), the SLR platform combined ABL and Life Science Finance term loan capabilities to deliver a one-stop financing solution, demonstrating cross-entity collaboration within the platform.
• SLR Sponsor FinanceminorStrategic or Co-development PartnerAn affiliated entity within the SLR Capital Partners platform focused on sponsor finance solutions. SLR Healthcare ABL's typical client profile (sponsor-backed companies) intersects with the sponsor finance offerings.
• Montefiore Nyack FoundationminorOthersSLR Healthcare ABL is proud to support the Montefiore Nyack Foundation, which supports Montefiore Nyack Hospital in Rockland County, NY. This is a charitable/community support relationship.
• PhilabundanceminorOthersSLR Healthcare ABL is proud to support Philabundance, a food bank serving the Greater Philadelphia region. This is a charitable/community support relationship.
• Project HomeminorOthersSLR Healthcare ABL is proud to support Project Home, an organization addressing homelessness in Philadelphia through housing, healthcare, and employment programs.
• Ronald McDonald House CharitiesminorOthersSLR Healthcare ABL is proud to support Ronald McDonald House Charities (RMHC), which provides housing and support for families of sick children receiving medical treatment.
• Association for Corporate Growth (ACG)minorOthersSLR Healthcare ABL is a proud member of the Association for Corporate Growth, a professional organization for deal-making and corporate growth professionals.
• The Risk Management Association (RMA)minorOthersSLR Healthcare ABL is a proud member of The Risk Management Association, a professional organization focused on sound risk management principles in financial services.
• Secured Finance Network (SFNet)minorOthersSLR Healthcare ABL is a proud member of the Secured Finance Network, the trade organization for the secured finance industry.
• The Turnaround Management Association (TMA)minorOthersSLR Healthcare ABL is a proud member of The Turnaround Management Association, a professional organization serving turnaround professionals.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Capitala Healthcare Finance: Healthcare-focused asset-based lender providing revolving credit facilities to middle-market healthcare providers. Directly competes for the same healthcare ABL deal flow with overlapping target borrower profiles.
• Gibraltar Business Capital: Asset-based lender with a dedicated healthcare practice financing receivables including insurance and government payors. Highly comparable on deal size band, products (revolving + term loan), and mid-market healthcare focus.
• WhiteHorse Capital: Direct lending arm offering asset-based and cash flow loans including a healthcare finance vertical. Competes for middle-market healthcare borrowers with similar custom structuring capabilities.
• Avante Healthcare Capital: Niche healthcare ABL specialist providing working capital and term loans to healthcare providers, particularly skilled nursing and senior living. Closest direct competitor by sector focus and product mix.
• Maranon Capital: Healthcare-focused private credit firm providing asset-based and cash flow facilities to middle-market healthcare operators. Directly comparable sponsor-backed client base and receivable-financed structure.

Broad incumbents

• CIT Bank Healthcare Finance: Healthcare finance division of a large commercial bank offering ABL, cash flow lending, and real estate financing to healthcare providers. Larger balance-sheet player operating more broadly than SLR Healthcare ABL's niche.
• MidCap Financial: Specialty finance firm (Apollo affiliate) offering healthcare-focused asset-based lending among other verticals. Larger platform with overlapping healthcare receivables financing capabilities.

Emerging players

• Deerfield Healthcare Lending: Healthcare-focused private credit affiliate of Deerfield Management providing structured debt and ABL to healthcare services and products companies. Partial overlap with SLR's healthcare services ABL focus.
• Encina Private Credit: Direct lending firm providing asset-based and unitranche facilities with healthcare exposure. Smaller scale niche lender with comparable custom structures for middle-market borrowers.

Regional players

• Heritage South Credit Union / Healthcare Credit Partners: Smaller regional/niche healthcare lenders serving overlapping healthcare borrower segments in limited geographies. Comparable custom financing approach though with materially smaller deal size capacity than SLR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/slr-healthcare-abl
• Xx.com/gemino

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SLR Healthcare ABL