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(September 14, 2017)
TEANECK, N.J., Sept. 14, 2017 /PRNewswire/ -- Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing medical accounts receivable factoring, medical accounts receivable financing, and cash flow solutions to medical providers in the U.S., recently closed an $8,000,000 medical accounts receivable financing facility with a retail pharmacy in Texas ("Company").
The Company was established in September 2014 and is headquartered in Dallas, TX. It has five locations and offers various types of pharmaceutical products with a focus in topical pain and scar cream treatments. The Company's goal is to use its extensive healthcare and pharmaceutical expertise to provide the best customer care in the marketplace. The Company approached Alleon to help with its working capital needs as strong growth was putting pressure on its cash flow. With increasing sales, the Company has had difficulties maintaining a growing inventory base and paying higher commissions to its distribution network. 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 of up to 85% on eligible receivables. The financing facility will also allow the Company to negotiate discounts for early payments from its wholesalers thereby providing additional cash for the business.
When asked about the financing process the CFO of the Company, said "Alleon conducted an extensive review of our business from a financial and operational standpoint that resulted in a solid understanding of our particular business. The additional work that was performed resulted in several refinements that we have incorporated into our ongoing business practice."
"Alleon Healthcare is committed to helping medical providers with their cash flow needs. This case is an example of how an asset based line of credit is beneficial to a medical company with growing revenues and delays in payments from its main payors, health insurance carriers. Alleon is excited to be a part of the Company's growth by stabilizing its cash flow and providing operating capital" 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. Alleon works with providers nationwide, as long as they receive payments from Medicare, Medicaid and Commercial Insurances.
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SOURCE Alleon Healthcare Capital
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