We are happy to announce the closing of a medical receivables 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 twenty years old and works closely with the 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 receivables that are billed to a state run Medicaid Waiver Program
Ongoing funding will allow the company to continue growing since insurance carriers typically take 30-60 days to remit payments for services rendered to new patients. Here is what the 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. Without Alleon Capital, our growth would be handcuffed and we would not be able to execute the business plan and vision originally intended.”
“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.
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