Alleon Healthcare Capital (“Alleon”), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $2,000,000 accounts receivable factoring facility with a recruitment and staffing agency based in New York (“Company”).
The Company is a staffing agency that focuses on providing clinical and nursing labor to large and medium-sized hospitals and health systems. The Company offers healthcare providers flexibility to access a large, qualified labor pool to satisfy temporary needs while creating an opportunity for healthcare workers to augment their income with additional temporary work opportunities. The Company bills and gets paid directly from its clients, most of which are large health networks and hospital groups.
Alleon was approached by the Company with a request to leverage its accounts receivable balance to improve liquidity and assist with growing pains. Alleon was able to structure the transaction as a factoring facility with an advance rate of 80% on eligible receivables.
“The Company’s very impressive use of technology in the healthcare staffing space is very exciting for the whole industry. Its growth trajectory is limitless, and we are excited to be a part of it.” said Ben Malyar, V.P. of Business Development at Alleon.
About Alleon: Alleon Healthcare Capital, a division of Alleon Capital Partners LLC, is a specialty finance company focused on providing cash flow solutions for healthcare providers in the U.S. that are unable to secure financing through conventional sources. Alleon works with providers nationwide, as long as they receive payments from Medicare, Medicaid, Commercial Insurances, Private Insurances, HMO/PPOs, Managed Care, No-Fault/PIP carriers, Worker’s Compensation carriers, and Letter of Protection (Personal Injury) cases.