Alleon Healthcare Capital ("Alleon"), the healthcare group of Alleon Capital Partners, LLC focused on providing medical receivables financing, factoring, and cash flow solutions to medical providers in the U.S., announces the closing of a $2 million medical accounts receivable financing facility with Hope Pediatrics, LLC ("Hope").
Headquartered in Dallas, TX, Hope is a pediatric home healthcare agency that specializes in private duty nursing for children ages 0 through 21. With more than 20 years of experience in the industry, Hope's staff works together as a team to provide high quality and comprehensive care to medically fragile children in the comfort of their homes. "We initially approached Alleon because they were one of only a handful of companies in the country able and willing to offer the unique type of financing we needed to rapidly expand in a very niche market within the healthcare industry. They were very knowledgeable and proficient at providing the specific type of funding we sought in order to overcome the many significant financial hurdles we face in our particular field," said Matt Holder, Hope's Vice President of Operations.
The transaction was structured with a borrowing base made up of medical accounts receivable that were billed to government insurance carriers. "We've noticed that home healthcare companies can grow quickly and serve their communities better if they have a financial partner that understands the billing cycle and cash flow strains associated with the home healthcare business. We look forward to seeing Hope's vision and service come to fruition and are thrilled to be part of it," adds Ben Rutkevitz, Alleon's Vice President of Business Development.
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.