Alleon Healthcare Capital closed a $7 million medical accounts receivable financing facility with a behavioral therapy treatment center based in Florida.
The company provides applied behavior analysis therapy, which is a newer method for treating the problem behaviors associated with autism spectrum disorder. The company currently has six operational clinics throughout New Hampshire, Massachusetts and Florida. The company is projected to add eight additional clinics by mid-2023 serving a total of five states.
Alleon was approached by the company with a request to leverage its accounts receivable balance to improve liquidity and assist with growing pains. Alleon was able to structure 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.
“The company does exceptional work serving such an underserved sector of healthcare. We are very excited about how the company’s future growth plans will impact so many families in need” Ben Malyar, vice president of business development at Alleon, said.
