"Virage Capital Management LP is excited to continue and extend the successful relationship forged with MSP Recovery, LLC. MSP historically pays the Clients 50% of such recoveries and retains the rest. MSP acquires the assignments of these recoveries from health insurance payors, healthcare providers and self-funded entities, and uses its proprietary multi-level data analytics system to secure recoveries from responsible parties. MSP Recovery is an industry pioneer in obtaining reimbursements for Medicare, Medicaid, commercial insurance, and other healthcare entities from parties which should have paid the claims in the first place. 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. The agreement gives Virage the right to buy recoveries otherwise due to MSP’s assignors ("Clients") – up to an aggregate total of $3 billion.
This initial agreement provides the platform to create a new source of revenue for MSP Recovery. Transaction to include assignments from healthcare insurance payors, healthcare providers and self-funded entities.ĬORAL GABLES, Fla., September 30, 2021-( BUSINESS WIRE)-MSP Recovery, LLC, ("MSP Recovery" or "MSP"), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader, that in July announced a planned business combination with Lionheart Acquisition Corporation II (Nasdaq: LCAPU, LCAP, LCAPW, "Lionheart" or "LCAP"), today announced an agreement to monetize up to $3 billion of select healthcare claims recovery interests to its investment partner, Virage Capital Management LP ("Virage"). Tewari, who was a Union minister in the UPA government, has criticised the erstwhile dispensation for not actioning "a kinetic response in the days following India's 9/11" in his book - '10 Flash Points 20 Years - National Security Situations that Impacted India'.Transaction proceeds represent anticipated new revenue source for MSP Recovery Manish Tewari criticises UPA's post-26/11 response, says Congress-led govt was 'insensitive, useless'
The AAP supremo said that the party will implement a transfer policy for teachers where they will be appointed to schools as per their choice The US Navy said in a statement the Arleigh Burke-class guided-missile destroyer USS Milius 'conducted a routine Taiwan Strait transit on Tuesday in accordance with international law'Ĭentral Vista project: Supreme Court junks plea challenging change in land use, says matter of policy decisionĪdvocate Rajeev Suri had challenged the change in land use of the plot from recreational area to residentialĪhead of Punjab polls, Arvind Kejriwal announces eight-point poll plan to transform education sector Prime Minister Narendra Modi on Friday announced his government's decision to repeal the three farm laws over which the farmers have been protesting over the past yearĬhina protests passage of US Navy destroyer USS Milius through Taiwan Strait
In consideration, MFS will receive 394,775,831 shares from MSI at a price of Rs 108.02 per share, translating into 20.57 percent stake of MLIC.ĭistrust of farmers in Centre won’t go away with rollback of farm laws, says Sachin Pilot This will enable the company to simplify the shareholding structure in its subsidiary and have more flexibility to attract strategic investments in Max Life in the future and yet maintain its significant majority ownership, MFS said in the statement.Īs per the transaction structure, MSI will get 75,458,088 shares of MFS at Rs 565.11 per share aggregating to 21.87 percent of the paid-up equity share capital. MFS and MSI (a part of MS&AD Insurance Group Holding of Japan) are 73:25 joint venture partners in private life insurer Max Life Insurance Company of the Analjit Singh-promoted Max Group. The board of Max Financial Services Ltd (MFS) has approved a transaction that will allow Mitsui Sumitomo Insurance (MSI) to swap 20.57 percent of its shareholding in Max Life insurance with 21.87 percent stake in MFS, the statement added. New Delhi: Tokyo-based Mitsui Sumitomo Insurance will acquire 21.87 percent stake in Max Financial Services by swapping the majority of its shareholding in Max Life Insurance (MLIC), a statement said on Wednesday.