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Alleon Healthcare Capital Provides a $2.5MM Medical A/R Financing to NY-based Home Care Provider

May 21, 2021, 07:00 AM
Filed Under: Healthcare

Alleon Healthcare Capital closed a $2,500,000 medical accounts receivable financing facility with a home care provider in New York (“Company”).
The Company provides personal care, private duty nursing, clinical care, and related home care services throughout the state as a Licensed Home Care Services Agency by the New York State Department of Health. Formed in 2019, the Company grew by acquiring two New York home health care agencies and is continuing its acquisition initiative, while providing up-to-date technology to the industry in New York.

The company approached Alleon 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 85% on eligible receivables.

“We are excited to provide financing to the Company as it is bringing efficiency and modernization to the home care space. Furthermore, its management is highly experienced and well positioned to execute on its scaling and acquisition strategy,” said Ben Rutkevitz, V.P. of Business Development at Alleon.

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