Gemino Healthcare Finance continues to expand its portfolio and has recently funded an $8 million senior secured credit facility to Park Irmat Drug Corp. and Gideon’s Drugs. Proceeds from the loan will be used to pay off existing debt and for working capital purposes.

Irmat has operated as a retail pharmacy in New York City since 1978 and since 2011 has focused primarily on dermatology products. In 2013, Irmat expanded it scope beyond the local retail platform to a national presence with mail order capabilities. Gideon’s, also located in New York, is a traditional retail pharmacy and has been in business since 2005.

Rob Misener, Managing Director for Gemino, said, “The Irmat and Gideon management team has an exciting vision for the pharmacy space, and Gemino is happy to partner with them to support their growth.”