Concordia Anesthesiology
“Breakout’s access to working capital term loans is quick and easy – something that is extremely important for my business model. We have been able to expand our business with confidence knowing that we have the financial support when we need it. Andrew provides a level of support that is hard to come by. They have definitely set the bar high.”
Dr. Jarrod Huey, President & CEO | Concordia Anesthesiology, Inc.
COMPANY
Concordia Anesthesiology is headquartered in Atlanta, Georgia and provides high quality anesthesia services to a broad range of practice settings that include urban & suburban hospitals, community hospitals, ambulatory surgery centers and office-based anesthesia services. The company is one of the most progressive and innovative anesthesia management groups in the Southeast, and Concordia has built a reputation for excellence in anesthesia practice management and patient care.
CHALLENGE
As Concordia’s client base was growing, bill payments from the companies that insure Concordia’s customers were routinely delayed. This pattern impacted Concordia’s ability to support payroll and fund various expansion initiatives. Concordia knew it needed a long-term financing solution in order to meet its growth goals, so they engaged a factoring company that specializes in healthcare. However, the factoring partner could not advance money quickly enough for Concordia to fund its immediate operational needs.
SOLUTION
Concordia was introduced to Breakout as a solution to fund its initial rapid operations growth, including payroll and other operational needs, and ultimately secured a working capital term loan in just a few days. As the relationship with Breakout prospered, Breakout expanded its term loan availability on multiple occasions, allowing the customer to take advantage of the refinancing process which waived the remaining interest on its outstanding term loans.
RESULT
Concordia’s partnership with Breakout has proven to be a valuable asset in times of immediate financing needs. Recently, the client encountered further delays in the factoring process due to a new billing system implementation. This delay prompted Breakout’s efficient term loan process and allowed the client to maintain its momentum, further positioning them for continued growth and success.
