We are happy to announce the closing of a $1,000,000 medical accounts receivable factoring facility with Crescentox, Inc. (“Crescentox”). Crescentox is a clinical medical laboratory headquartered in Southfield, MI that specializes in procedures that determine and measure the presence or absence of substances and organisms in the body.
Crescentox works primarily with substance abuse centers, pain management clinics and medical facilities that specialize in auto injury cases. Its owners recently purchased the laboratory in mid-2015 and are utilizing Alleon’s medical accounts receivable factoring facility to stabilize cash flow from insurance carriers.
“When medical providers are in a growth phase the delay in payments from insurance carriers significantly hinders free cash flow to support the growth. A medical accounts receivable factoring facility comes in handy to support the necessary capital needed to grow the business. Crescentox can now focus on efficiency versus cash flow,” says Zachary Zuravner, Associate at Alleon Healthcare Capital.
The facility allows Crescentox to sell its third party medical receivables within 24 hours of submission to the insurance carriers.
Follow us on: