We are happy to announce that we have recently closed a $7,500,000 medical accounts receivable financing facility with an infusion pharmacy in Pennsylvania (“Company”).
The Company was established in 2015 and is focused on providing immunoglobulin therapy services to patients in the homecare setting. Today, many chronic conditions require high-tech infusion therapies to help patients lead healthy and productive lives. Providing infusion therapy for patients in their homes is not only more cost effective, but also allows patients the ability to resume normal lifestyles and work activities, as opposed to remaining in hospitals.
The Company approached Alleon to help expand its operations by acquiring a competing pharmacy in the Southeast. The acquisition will help the Company increase its patient base and better serve the local population.
Alleon was able to structure the transaction as a financing facility made up of medical receivables that are billed to commercial insurance carriers with an advance rate up to 85% on eligible receivables.
“Alleon is proud to work with the Company to grow its operations. We were able to structure the transaction so that the Company was able to take advantage of the opportunity to move quickly and acquire its strategic competitor,” said Ben Rutkevitz, V.P. of Business Development at Alleon.
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