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 $25,000,000 medical accounts receivable financing facility with an infusion pharmacy in New Jersey (“Company”).
The Company was established in 2015 and is focused on providing immunoglobulin therapy for neurological conditions and disease modifying medications for multiple sclerosis to patients in the homecare setting. Today, many chronic conditions require high-tech infusion therapies to help patients lead healthy and productive lives. Providing infusion therapy for patients in their homes is not only more cost effective, but also allows patients the ability to resume normal lifestyles and work activities, as opposed to remaining in hospitals.
The Company, an existing client of Alleon, approached Alleon with a request to increase its medical accounts receivable financing facility in order to buy out a minority partner and expand its operations.
Alleon was able to structure the transaction as a financing facility made up of medical receivables that are billed to commercial insurance carriers with an advance rate up to 85% on eligible receivables.
“We had a great relationship with the Company and were able to increase the funding facility in less than 5 days. Providing opportunistic capital to our clients is part of our mission and we are excited to be able to help. ” said Ben Rutkevitz, 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.