Alleon Healthcare Capital closed a $500,000 medical accounts receivable financing facility with a pediatric home healthcare company in Texas.

The company offers skilled private duty nursing, speech therapy, occupational therapy and physical therapy to children from birth to 20-years-old and works closely with a child’s physician and/or specialist to implement a specific plan of care for each of its client’s needs.

The transaction was structured with a borrowing base made up of medical accounts receivable that are billed to a state run Medicaid Waiver Program.

Ongoing funding will allow the company to continue growing since insurance carriers typically take 30 to 60 days to remit payments for services rendered to new patients.  The company’s owner said, “With the financing that Alleon Capital has provided, our company’s rapid growth can continue without cash flow strain.  This will also give us the ability to expand into other markets organically and possibly by acquisitions.”

“I’m happy to see a growing company making a difference in its community. Pediatric home health is very important for families that find themselves going home from the hospital with oxygen equipment, medication regimens or apnea monitors. It’s extremely rewarding to know that we are able to provide a peace of mind for the owners so they can focus on taking care of these children,” said Ben Rutkevitz, VP of Business Development at Alleon.

Alleon Healthcare Capital is a specialty finance company focused on providing medical receivables financing, medical receivables factoring and cash flow solutions to medical providers in the U.S.