MSP Recovery Stock Price, News & Analysis

MSP Recovery (NASDAQ: MSPR) reported substantial asset growth, increasing from $104 million at the end of 2021 to $6.6 billion by June 30, 2022. The company announced a total revenue of $5.3 million for Q2 2022, a 57% increase year-over-year. However, it faced an operating loss of $52.2 million and a net loss of $77.1 million. MSPR's recoverable claims grew to a potential value of $88.3 billion, showing promise for future revenues. MSPR has secured approximately $1.5 billion in capital resources and aims for total gross recoveries of $992 million for 2022.

MSP Recovery (NASDAQ: MSPR) announced a pilot program for its Health Safety Technology at Cano Health, which serves over 270,000 members. The LifeWallet portal will help Cano Health identify patient medical histories and payer information in real-time, enhancing operational efficiency and potentially lowering costs. This integration includes biometric check-ins to prevent improper medical documentation. The initiative aims to improve patient care through data analytics, ultimately benefiting both patients and providers.

MSP Recovery, a leader in Medicare, Medicaid, and reimbursement recovery, will release its Q2 2022 financial results on August 11, 2022, before market opening. A webcast and conference call will follow at 8:30 a.m. ET to discuss the results and recent developments. Callers can join via U.S. number 1-866-652-5200 or internationally at 1-412-317-6060. The event is accessible through the MSP Recovery's website and replays will be available through November 11, 2022.

MSP Recovery, Inc. (NASDAQ: MSPR) announced a significant ruling from the U.S. Circuit Court of Appeals for the Eleventh Circuit on July 18, 2022, in the case MSP Recovery Claims, Series LLC v. Metropolitan General Insurance Company. The court overturned a previous dismissal, affirming that Metropolitan has a "demonstrated responsibility" to pay claims under the Medicare Secondary Payer Act. This decision is pivotal, as it may influence other ongoing litigations involving MSP Recovery. The firm aims to challenge the outdated healthcare reimbursement system, enhancing compliance and recovery solutions.

On July 18, 2022, MSP Recovery, Inc. (NASDAQ: MSPR) won a crucial ruling from the U.S. Circuit Court of Appeals for the Eleventh Circuit. The court overruled a previous Southern District Court decision, affirming MSP Recovery's claim that Metropolitan General Insurance has a "demonstrated responsibility" to reimburse conditional payments made under the Medicare Secondary Payer Act. This ruling is expected to influence ongoing lawsuits involving MSP Recovery, enhancing their position in future claims.

MSP Recovery (NASDAQ: MSPR) announced an agreement with Prudent Group to monetize up to $250 million in its Net Recovery Proceeds. This strategic relationship aims to enhance access for European investors in the U.S. healthcare industry. MSPR has been sending individual claim demand letters to insurers, which led to a rise in payments received. The deal enables Prudent Group to acquire a percentage of MSPR's recovery rights on a non-recourse basis, specifically targeting individual demand letters.

MSP Recovery (MSPR) has initiated claims exceeding $5.6 billion for payments due from major pharmaceutical companies. This follows an earlier announcement of $368 billion in owned claims. The company targets various recoveries, including product liability and antitrust claims, particularly against notable firms like AstraZeneca and Merck. MSPR is implementing strategies to enhance claims recovery, expecting continued growth in recovery volumes, with a total of $7.1 billion in billed amounts now being pursued.

MSP Recovery, Inc. (MSPR) announced significant updates on June 13, 2022. The company reported that the value of owned claims has surged to $368 billion. Additionally, MSPR is pursuing over $1.5 billion in claim demands from insurers. The company aims to utilize its Health Safety Technology, including biometric checks, to enhance healthcare accuracy and prevent fraud. MSPR also plans to implement this technology in Florida schools to improve safety and access to student health records. The firm highlights its rapid growth and unique expertise in healthcare data and recovery.

MSP Recovery, LLC (NASDAQ: MSPR) announced that its Founder and CEO, John H. Ruiz, purchased shares and warrants of the company. This transaction signifies Ruiz's confidence in MSP Recovery's prospects. Specific details of the purchase will be disclosed in a Form 4 filing by June 2, 2022. Since its establishment in 2014, MSP Recovery has positioned itself as a leader in Medicare, Medicaid, and secondary payer reimbursement recovery by leveraging technology to address inefficiencies in the healthcare reimbursement system. For more details, visit msprecovery.com.