VION Announces Formation of CarePoint Funding I LLC

ATLANTA--(BUSINESS WIRE)--VION Receivable Investments (VION) announces a new joint venture arrangement with CarePoint Financial Services LLC to provide working capital to medical providers throughout the United States. The program provides greater financial flexibility for medical providers while freeing them from the time and expense of administration and collections. The new joint venture, CarePoint Funding I LLC, will market its program to doctors, hospitals, diagnostic facilities, surgical centers, and treatment facilities with an initial launch in California, Texas, Maryland, and Florida. CarePoint Financial Services will provide origination, account management, and collection services.

“We are very excited about the opportunity to work with Larry Sherman and his team of seasoned professionals at CarePoint Financial Services in this joint venture. We expect to build this platform significantly in the years to come.”

“In an environment where traditional bank financing is still out of reach for many businesses, our program gives medical providers an alternative source of working capital to acquire competitors or related businesses, invest in new technology, and grow or restructure their businesses,” commented Barbara Anderson, Executive Managing Director of VION. “We are very excited about the opportunity to work with Larry Sherman and his team of seasoned professionals at CarePoint Financial Services in this joint venture. We expect to build this platform significantly in the years to come.”

Larry Sherman, President of CarePoint commented, “CarePoint’s strategic partnership with VION has brought a new level of service and sophistication to the litigated receivable funding space. CarePoint is now able to consistently provide clients with the funding they need to operate their business with a greater focus on delivery of patient care. In addition, with VION as a partner, CarePoint can now expand its services to more providers, allowing others to benefit from the worry-free financing system our two companies have created.”

About CarePoint Financial Services

CarePoint Financial Services, LLC, headquartered in Castle Rock, Colorado, provides funding solutions for medical providers specializing in the treatment of patients involved in personal injury and worker’s compensation cases. With $150 million in receivables under management, the company is a market leader in the purchase of litigated medical receivables. CarePoint services create a stable cash flow for medical providers enabling a focus on the delivery of world-class care.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com or contact Barbara Anderson, Executive Managing Director at 703-736-8336, [e-mail], www.vioninv.com.