Alleon Healthcare Capital, a specialty finance company focused on providing financing solutions to medical providers in the U.S., closed a $1.5 million medical accounts receivable financing facility with Comprehensive Wellness Services.

Comprehensive promotes preventive health programs and provides coordinated home health care services to seniors to help them age with grace and dignity in their homes.

The company approached Alleon to finance its accounts receivable to help with its working capital needs and growth objectives. Alleon was able to structure the transaction as a financing facility made up of medical receivables that are billed to Medicare with an advance rate of up to 75% on eligible receivables.

“We’re happy to provide financing for a medical provider like this client, who is administering a valuable service to the elderly in its community. From a financial standpoint, home healthcare companies provide cost effective alternatives to lengthy, more expensive institutional care,” said Ben Rutkevitz, VP of business development at Alleon.