Daily News: November 6, 2013

Alleon Capital Closes Financing Facility with Dialysis Lab

Alleon Capital Partners announced the closing of a $2 million medical accounts receivable financing facility with Nationwide Laboratory Services.

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.

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 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 CEO.

Ft. Lauderdale, FL-headquartered is a provider of general medical diagnostic services, as well as diagnostic services to end-stage renal disease patients.