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 $3,500,000 medical accounts receivable financing facility with a health network based in New York (“Company”).
The Company was founded in 2021 and partners with medical providers to provide quality care for its patients. The Company uses its technology to streamline services and allow the providers to offer the best care at the lowest possible cost. The Company projects to grow its partnerships to include more than 1,100 providers from the existing 43 currently participating.
Alleon was approached by the Company with a request to leverage its medical accounts receivable balance and assist with working capital. Alleon was able to structure the transaction as a financing facility made up of medical receivables that are billed to government insurance carriers with an advance rate of 80% on eligible receivables.
“We are excited to work with the Company and assist it to continue its growth, serving patients across the region,” 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.