[TedFundy]

Who here factors primarily medical device or healthcare receivables? I have a company that sells a few devices to offices and distributors worldwide. They have between 6-10mm in A/R at any given time. Their biggest debtors (~500k+ per month) are the two finance groups they refer to their clients. Over half of their sales in the US. They have 6.6mm in open AR now. However, it is not uncommon that their aging goes out 120 days on many of their biggest customers.

I usually do not fund invoices after 90 days and I do not excel in overseas or medical invoices. I have already invested more time than I would like into this. What direct lender can I broker this too?

P.S. this isn't an MCA deal, sorry.

[Funder Mark]

Why didn't you just type 'medical' in the search bar, and see who advertises that they work in the field? It took me 20 seconds to find people who can help you.

[VFG]

Are they selling medical devices for the export market or to domestic accounts? If export, i can help, if domestic, then i have a source for you. Feel free to DM me.

[dpFund]

Ted - One of my colleagues does a lot of funding in this space. Likely they will be interested in discussing with you.

Feel free to contact me and discuss.

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[Kevin Henry-Seacoast]

Who here factors primarily medical device or healthcare receivables? I have a company that sells a few devices to offices and distributors worldwide. They have between 6-10mm in A/R at any given time. Their biggest debtors (~500k+ per month) are the two finance groups they refer to their clients. Over half of their sales in the US. They have 6.6mm in open AR now. However, it is not uncommon that their aging goes out 120 days on many of their biggest customers.

I usually do not fund invoices after 90 days and I do not excel in overseas or medical invoices. I have already invested more time than I would like into this. What direct lender can I broker this too?

P.S. this isn't an MCA deal, sorry.

Hi Ted,

Who are the debtors. It they are selling products to distributors, hospitals, and large practices we might be able to help. The size is not a problem.

[bdshaw]

Hi Ted, I've established both US and overseas factoring relationships. Are the two financial,groups leasing companies?
I would like to discuss a call to see if factoring or possibly an ABL is the way to approach the funding.
Bob

[TedFundy]

Why didn't you just type 'medical' in the search bar, and see who advertises that they work in the field? It took me 20 seconds to find people who can help you.

Funder Mark, I performed a search before I created the thread. I found nothing as relevant as I would like and my intention was NOT to waste people's time with a duplicate thread. If there is any way I can repay you for the 20 seconds I have remorselessly plundered from your life, please do not hesitate to inform me on doing so.

[TedFundy]

Update, this account is public and the red flags are:

-Terms that go out to 90 and further
-Public company operating under loss for many years
-New Management within the year
-Offer a 1 year warranty on the device
-Lots of cross aging and excuses, keep billings in A/R past 180 and 365 days
-Not paid for by insurance

Debtors are indeed commercial companies as well as small "family" doctor offices.

Anyone still have a recommendation for me?

Thanks in advance.

[Kevin Henry-Seacoast]

Ted,

Let's have a quick chat.
-If the large corporate debtors are good debtors, we don't have an issue going out over 90 days.
-Public company with a history of losses is not an issue...within reason.

[Alleon Healthcare]

Hi Ted,
Just to be clear, are the client's payors health insurance carriers? if so, we are interested

[bdshaw]

Is this deal still open Yes?
Bob