LCAP - MSP Recovery enters $3B agreement to sell healthcare claims recoveries to Virage Capital

MSP Recovery in a planned business combination with Lionheart Acquisition Corporation II (NASDAQ:LCAP) enters an agreement to monetize up to $3B of select healthcare claims recovery interests to its investment partner, Virage Capital Management LP. This initial agreement provides the platform to create a new source of revenue for MSP Recovery. The agreement gives Virage the right to buy recoveries otherwise due to MSP’s assignors– up to an aggregate total of $3B. MSP’s 50% share of the recovery amount remains untouched by the agreement, which now provides an additional avenue to monetize the clients’ 50% of the total recovery amount. Transaction proceeds represent anticipated new revenue source for MSP Recovery. Transaction to include assignments from healthcare insurance payors, healthcare providers and self-funded entities.

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MSP Recovery enters $3B agreement to sell healthcare claims recoveries to Virage Capital