Medical Factoring and Finance Company Alleon Capital Partners Closes a Financing Facility with Lab Serving Dialysis Patients
by Alleon Capital on 11/05/13 at 4:05 pm
Medical factoring and finance company Alleon Capital Partners, LLC closes a $2,000,000 medical accounts receivable financing facility with Nationwide Laboratory Services, Inc. The funding will support the lab’s growth initiative.
Englewood, NJ– Alleon Capital Partners, LLC (“Alleon”), a medical factoring and financing company headquartered in Englewood N.J., announces the closing of a $2,000,000 medical accounts receivable financing facility with Nationwide Laboratory Services, Inc. (“Nationwide”).
Nationwide, headquartered in Ft. Lauderdale, FL, is a leading provider of general medical diagnostic services, as well as diagnostic services to end stage renal disease (“ESRD” or dialysis) patients. Nationwide was founded in 1996, is one of the largest independent ESRD labs in the US which is not affiliated with one of the major dialysis providers, and serves approximately 250 dialysis clinics.
Nationwide recently enhanced its equipment and information technology and approached Alleon with an ambitious growth plan that required working capital. After carefully evaluating Nationwide’s business plan, Alleon saw the need for an accounts receivable line of credit to support Nationwide’s leadership position in the industry. “Alleon Capital understands medical finance better than any of the other institutions we spoke to and tailored a funding program to meet our specific requirements. A knowledgeable and strong banking relationship is essential for success and we are pleased with Alleon,” noted Mark Delahunty, Nationwide’s Chief Executive Officer.
The transaction was structured as a credit facility with a borrowing base made up of medical accounts receivable that were billed to major commercial insurance carriers and specialty providers.
Alleon Capital Partners is a specialty finance company focused on providing capital solutions to medical providers 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. To contact Alleon, please call Ben Rutkevitz at 201-340-6346 or email him at firstname.lastname@example.org. You can also visit Alleon Capital Partners at http://alleoncapital.com or its blog at http://medicalfinancingreceivables.co/.