MSPR - MSP Recovery jumps 20% after business update

• MSP Recovery ( NASDAQ: MSPR ), a provider of healthcare claims recovery and data analytics services, added ~20% in the pre-market trading Monday in reaction to a business update on the company’s healthcare members and ongoing projects.
• MSPR said that its unique healthcare member lives had reached more than 34M as of Aug. 11, up from an initial 11,000 in 2014. With the current agreements, the company expects to receive over 3M additional unique healthcare members before Sep. 30.
• Meanwhile, MSPR is piloting a project that involves blockchain technology. Developed in partnership with Tokenology, the program is designed to create a ledger incorporating “real-time medical claims transactions in the MSP and LifeWallet ecosystems,” MSPR said.
• Meanwhile, MSPR has joined with Palantir ( PLTR ) to develop an analytical tool to provide key metrics for providers and payers using the latter’s Foundry platform.
• “These systems increase revenue, reduce costs, and save lives with precision in medical treatment and billing,” MSPR’s CEO John H. Ruiz remarked.
• In May, MSPR went public following a SPAC deal that valued the combined company at around $32.6B, including debt.

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