Benzinga | Oct 14, 2021 11:09AM EDT

Lionheart Acquisition Corp II Earlier Reported Its SPAC Merger Partner, MSP Recovery Added Partnerships To Support Recent Partnership With Palantir, No Terms Disclosed

* Lionheart currently anticipates filing a registration statement on Form S-4, which will include a preliminary proxy statement/prospectus, prior to the end of October 2021

* MSP Recovery announces multiple strategic partnerships, additional potential revenue sources, and enhanced technological capabilities

* MSP Recovery has secured more healthcare claims from new and existing clients



MSP Recovery, LLC ("MSP Recovery" or "MSP"), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader, that in July agreed to a business combination with Lionheart Acquisition Corporation II (NASDAQ:LCAPU, LCAP, LCAPW, &quot, Lionheart&quot, or &quot, LCAP&quot, ))))), valued at $32.6 billion, today announced additional partnerships and business transactions that add greater value, additional potential revenue streams, as well as technological advancements. These new partnerships and innovations were not part of the $32.6 billion valuation.

The new technical integrations and partnerships announced today are in addition to, and support the recent partnership with Palantir Technologies Inc. ("Palantir") (NYSE:PLTR), transforming legal, data, and healthcare delivery into one united ecosystem.

"Since the business combination announcement in July, MSP Recovery has continued to evolve and has entered into new partnerships and created new platforms. Additionally, Lionheart currently anticipates filing a registration statement on Form S-4, which will include a preliminary proxy statement/prospectus related to the transaction prior to the end of October," stated Ophir Sternberg, Chairman and CEO of Lionheart. "The original valuation did not consider the additional revenue streams that MSP now has the potential of realizing," Sternberg added. "MSP Recovery's management team continues to impress Lionheart and our board with their innovative and strategic expansion of avenues for growth."

"MSP Recovery's claims recovery portfolio continues to expand as we have secured more claims from new and existing clients since announcing the business combination with Lionheart in July," said MSP Recovery Founder and CEO, John H. Ruiz. John continued, "The level of interest from providers and payers has exceeded our expectations. We attribute this to the healthcare industry's recognition of the need for MSP Recovery's systems. These additional claims and expanded capabilities through new partnerships are a testament to the innovations MSP Recovery continues to pioneer. We have the data, healthcare, and legal knowledge necessary to maximize our integrated platform, focusing on proper healthcare delivery and appropriate payment for healthcare services. MSP Recovery is also able to identify the correct payer and provide optimal and accurate allocation of resources to prevent potential injury and loss of life, while saving healthcare providers and payers billions of dollars in improper payments."

Synnova Health:

MSP Recovery is excited to announce its partnership with Synnova Health, which is anticipated to improve MSP Recovery's platform by expanding its capabilities and maximizing its efficiency, thereby improving outcomes for healthcare providers and insurance carriers, among others. Synnova's team consists of incredibly talented developers who have contributed to the success of some of the top technology companies in the world, including Apple and Microsoft, and look forward to bringing their forward-thinking healthcare solutions and innovation strategies to the MSP team. The partnership is also anticipated to expand Synnova's capabilities by adding MSP Recovery's technology solutions to Synnova's transformative delivery of healthcare and engage providers and consumers. This partnership will create a more seamless consumer experience while streamlining workflow -- all in a mobile-friendly interface. This powerful product suite is fully customizable, allowing Synnova to meet the unique needs of the healthcare industry.

"As a lifelong entrepreneur, with a passion for innovation and helping transform the delivery of healthcare through technology solutions, I could not be more excited to partner with MSP Recovery. MSP Recovery's data analytics platform and John H. Ruiz's mission to disrupt the antiquated healthcare reimbursement system are revolutionary. Synnova's digital solutions, now exclusive to MSP Recovery, will accelerate positive outcomes for healthcare providers, insurance carriers, retailers, and other entities."

-Norberto Menendez, Founder & CEO of Synnova Health

Tokenology:

MSP Recovery is proud to partner with Tokenology, combining Tokenology's blockchain-centric financial technology with MSP Recovery's strong data analytics platform. This partnership will fuel a fully tokenized Medicare, Medicaid and commercial recovery platform, leveraging the best-in-class strategies and resources to provide secure and efficient blockchain solutions. MSP Recovery's partnership with Tokenology will enable the efficient delivery of healthcare services, while ensuring proper payments between payers and practitioners.

"After getting a first-hand look at MSP Recovery's groundbreaking innovations and capabilities, we knew they were the right partner to launch Tokenology into the healthcare sector. John Ruiz's extraordinary knowledge and innovations in healthcare and big data, combined with his legal knowledge, will help empower Tokenology's already advanced systems. The synergy between both companies, strategically and financially, facilitates the tokenization of real-time management and utilization of medical data for payers, patients, and providers. This paves the way to deliver superior returns to stakeholders, while taking Tokenology to new heights."

-John Weiser, CEO of Tokenology

SirenMD:

MSP Recovery is excited to announce its partnership with SirenMD, which MSP Recovery and SirenMD anticipate will enable easier and more efficient access to critical information to gain a better understanding of patients' health history, provide more accurate diagnoses, and lead to improved care and treatment. By plugging into MSP Recovery's powerful data analytics platform, SirenMD is looking forward to maximizing real-time communication and documentation between caregivers and their patients, providing the data points needed to bill properly and efficiently. After analyzing MSP Recovery's fully integrated system of clinical and transactional data, and its ability to discover improper payments and recover reimbursements, it was clear the synergy between MSP Recovery and SirenMD would revolutionize billing accuracy and payment integrity. John Ruiz's vision of large-scale integration will open doors and provide invaluable resources to all healthcare providers.

"I've seen MSP's systems and the innovations they are applying to the healthcare space are groundbreaking. Healthcare is communication. These interactions are not often captured by current documentation and billing and can be non-compliant on the regulatory side. MSP has the deep data expertise to identify lost revenue, improper billing, payment integrity, compliance and has the claims processing know-how to provide never-before-seen resources for physicians and health systems. MSP's partnership with Palantir provides immediate solutions for patient care and aims to transform healthcare communication, while alleviating the burdens associated with improper billing and collections."

-Lee Kaplan, MD, Founder of SirenMD & Board Certified Orthopedic Surgeon

Additional Claims Data:

MSP Recovery continues to build momentum in the market through its acquisition of additional healthcare claims. Since announcing the planned combination with Lionheart, MSP has secured additional Medicare and Medicaid claims data from new and existing clients. MSP has also secured commercial claims data that is recoverable and falls outside of the Medicare and Medicaid recovery space.