Alleon Healthcare Capital Provides $500K Medical A/R Facility to CILA Provider

Alleon Healthcare Capital closed a $500,000 medical accounts receivable financing facility with a community integrated living arrangement (CILA) provider located in Illinois.

CILA providers operate group homes that accommodate from one to eight individuals with behavioral needs. The company for this deal has six CILA homes staffed with licensed personnel to assist persons with various degrees of disability. The personnel at these homes includes house managers, behavior therapists and full-time registered nurses. The company was formed nine years ago and has been growing by acquiring new CILA homes.

The company approached Alleon Healthcare Capital with a request to leverage its medical accounts receivable to acquire additional facilities and assist with working capital during times of the year when the state of Illinois delays payments. Alleon Healthcare Capital structured the transaction as a financing facility made up of medical receivables that are billed to government insurance carriers with an advance rate of 80% on eligible receivables.

“We are excited to work with this company, as it is providing much needed services in the community, and look forward to helping it grow,” Ben Rutkevitz, vice president of business development at Alleon Healthcare Capital, said.  

Alleon Healthcare Capital, a division of Alleon Capital Partners, is a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring and cash flow solutions to medical providers in the United States.