Alleon Healthcare Capital, a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring and cash flow solutions to medical providers in the U.S., closed a $2 million medical accounts receivable financing facility for a skilled nursing facility operator.
The company is currently offering specialty management services to five separate skilled nursing facilities throughout Florida, Ohio and Missouri. Its focus is on interim and temporary management oversight; financial, sales and regulatory consulting; pre transition facility assessment support; hands-on operational, clinical and A/R diligence; and post transition oversight and management support.
The company approached Alleon with a request to leverage its medical accounts receivable to acquire additional facilities and expand operations. Alleon structured 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 80% on eligible receivables.
“With everything that occurred in the SNF space since the start of the pandemic, we are extremely excited to be financing this new client, as it has an outstanding track record of revitalizing existing nursing facilities,” Ben Malyar, vice president of business development at Alleon Healthcare Capital, said. “This is a very important sector within the healthcare space, and we are pleased to play our part in strengthening it.”
