MedicaFund provides the financing to one of the
largest Diagnostic Radiology Networks in the
country. This financing has allowed the Company to
pre-fund its Practitioners prior to receiving
payment from its Payor Client’s. The pre-funding
differentiates the Company from all of its
competitors in its industry and has resulted in
rapid growth and acceptance of the Network.
MedicaFund is currently pursuing financing
opportunities to allow it to expand its pre-funding
operations into new geographies. It is seeking
$5,000,000.00 in collaterized promissory notes. The
notes will have a 3 year term and bear interest at
the rate of 12 percent (12%) per annum payable
quarterly in cash in arrears. The interest will be
payable at the end of each calendar quarter.
MedicaFund shall have the right to prepay the Notes
at anytime, without penalty. If MedicaFund prepays
the Notes prior to maturity, Note Holders shall
receive their principal (and accrued and unpaid
interest thereon). The Notes will be collaterailzed
by a first lien on medical claims which are claims
against insurance carriers. These claims have the
right of recourse against the Provider who generated
the claim. MedicaFund will service all accounts and
will maintain all control over the receipts and
distributions of borrowed proceeds.
