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 $2,500,000 medical accounts receivable financing facility with a healthcare network located in Arizona (“Company”).
The Company provides primary care and ancillary services focused on delivering proactive continuous care. Formed in 2019, the Company grew by acquiring 14 practices with over 40 providers. Since then, the Company made productivity improvements and implemented an enterprise wide EMR system, as well as telehealth services for its practitioners.
Alleon was approached by the Company with a request to leverage its medical accounts receivable to acquire additional facilities and expand operations. Alleon was able to structure the transaction as a financing facility made up of medical receivables that are billed to government and commercial insurance carriers with an advance rate of 80% on eligible receivables.
“We are very impressed with the Company’s growth and management team. We look forward to being a part of the Company’s continued growth as it brings efficiency and modernization to the healthcare space,” 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.
