Virage

LifeWallet Announces Second Quarter 2023 Financial Results

Retrieved on: 
Friday, September 1, 2023

CORAL GABLES, Fla., Sept. 01, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) ("LifeWallet," or the "Company"), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, announced it has filed its quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2023.

Key Points: 
  • CORAL GABLES, Fla., Sept. 01, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) ("LifeWallet," or the "Company"), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, announced it has filed its quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2023.
  • LifeWallet furthered its litigation and data-matching strategies during the quarter.
  • Revenue: Total revenue for the three months and six months ended June 30, 2023, was $2.5 million and $6.03 million respectively.
  • For the Six Months Ended June 30, 2023, Adjusted Net Loss was $33.4 million, excluding the non-cash items noted.

ZimVie Expands Development Cooperation Agreement with Brainlab AG to Include Co-Marketing

Retrieved on: 
Thursday, August 17, 2023

WESTMINSTER, Colo., Aug. 17, 2023 (GLOBE NEWSWIRE) -- ZimVie Inc. (Nasdaq: ZIMV), a global life sciences leader in the dental and spine markets, today announced it has expanded its cooperation agreement with Brainlab, an innovation leader with an expansive and diversified spine imaging, planning, and navigation portfolio, as well as robotic imaging, surgical assistance, and mixed reality to support spinal surgeries.

Key Points: 
  • ZimVie and Brainlab have started a joint project to achieve compatibility between ZimVie’s Vital and Virage fixation systems and Brainlab spine and trauma navigation technologies, which help surgeons plan and execute spinal procedures, accurately place pedicle screws, and minimize radiation exposure.
  • In addition, ZimVie will co-market the Brainlab spine and trauma navigation technologies alongside its existing spine implant solutions globally.
  • “We are excited to partner with Brainlab to bring into the operating room differentiated technology aiming at enhancing workflow and accuracy for surgeons and staff,” said Vafa Jamali, President and Chief Executive Officer of ZimVie.
  • “We have been focused on expanding our portfolio with enabling technology to drive greater adoption across our spine portfolio.

LifeWallet Announces Fiscal Year and Fourth Quarter 2022 Financial Results

Retrieved on: 
Wednesday, July 26, 2023

Accordingly, our unaudited condensed consolidated financial statements for the foregoing periods require restatement and should no longer be relied upon.

Key Points: 
  • Accordingly, our unaudited condensed consolidated financial statements for the foregoing periods require restatement and should no longer be relied upon.
  • For the fiscal year 2022, LifeWallet had an operating loss of $331.5 million and an adjusted operating loss excluding non-cash items, of $44.5 million.
  • During 2022, LifeWallet developed LifeChain blockchain technology, which is in the process of being implemented for several clients.
  • Detailed financials relating to the transactions will be reflected in the Company’s first fiscal quarter 2023 financial statements.

LifeWallet Announces Amendments Extending Certain Agreements and Other Events

Retrieved on: 
Monday, April 17, 2023

CORAL GABLES, Fla., April 16, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “LIFW” or the “Company”), today announced it successfully renegotiated two material obligations.

Key Points: 
  • CORAL GABLES, Fla., April 16, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “LIFW” or the “Company”), today announced it successfully renegotiated two material obligations.
  • The new agreements with Virage and Nomura extend the payment dates for each to September 30, 2024.
  • “Virage Capital Management LP continues to support LifeWallet’s vision, business plan, and execution,” said Edward Ondarza, Founder and Managing Director of Virage.
  • The restatement will be included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022.

MSP Recovery Announces Fiscal Third Quarter 2022 Financial Results

Retrieved on: 
Tuesday, November 8, 2022

CORAL GABLES, Fla., Nov. 08, 2022 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ: MSPR) ("MSPR," "MSP Recovery," or the "Company"), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced financial results for the third quarter ended September 30, 2022.

Key Points: 
  • CORAL GABLES, Fla., Nov. 08, 2022 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ: MSPR) ("MSPR," "MSP Recovery," or the "Company"), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced financial results for the third quarter ended September 30, 2022.
  • Initial payments received through the third quarter on individual demand claims, averaged a recovery multiple of 2.1x the projected PVPRC.
  • Revenue: Total revenue for the third quarter of 2022 was $8.3 million, up 234% from the third quarter of 2021.
  • Operating loss: Operating loss for the third quarter of 2022 was $78.9 million, compared with $3.1 million for the third quarter of 2021.

ZimVie Expands Navigation-Compatible Platform to Include Posterior Cervical Application

Retrieved on: 
Tuesday, October 11, 2022

The Virage Navigation System simplifies rod alignment and minimizes operating time, with screws allowing for 112 of conical range of motion and facilitating optimal screw placement.

Key Points: 
  • The Virage Navigation System simplifies rod alignment and minimizes operating time, with screws allowing for 112 of conical range of motion and facilitating optimal screw placement.
  • This is especially helpful in minimally invasive surgery (MIS) procedures where, due to smaller incisions, normal visibility may be reduced.
  • For indications, contraindications, warnings, and risks on the Virage Navigation System or to find more information on other ZimVie Spine solutions, please visit https://www.zimvie.com/en/spine.html .
  • Forward-looking statements include, but are not limited to, statements concerning ZimVies expectations, plans, prospects, and product and service offerings, including new product launches and potential clinical successes.

MSP Recovery Experiences Additional Growth, Commences Billing More Than $1.5 Billion to Payers, and Will Deploy Biometrics in Medical Facilities as Well as Biometrics Pilot Programs to Help Improve School Security

Retrieved on: 
Monday, June 13, 2022

We continue to grow our new business at rates beyond what we expected, said MSP Recovery Founder and CEO, John H. Ruiz.

Key Points: 
  • We continue to grow our new business at rates beyond what we expected, said MSP Recovery Founder and CEO, John H. Ruiz.
  • As we continue to deploy our unique technologies, we are also seeing significant growth in other areas in addition to owned claims.
  • These wins have paved the way for Medicare either directly or indirectly to recover on claims it wasnt responsible for.
  • From 2014 through June 10, 2022, MSPR has grown its owned claims from $84 million to $368 billion in claims.

MSP Recovery Reaffirms Revenue Guidance Originally Set Forth in Prior Financial Models and Announces Substantial Business Expansion Through Development of Additional Revenue Streams, Monetization of Assignor Interests, Growth of Existing Business, and Con

Retrieved on: 
Thursday, May 26, 2022

MSPR recently announced substantial business expansion through development of additional revenue streams, monetization of assignor interests, growth of assignors and existing business, and continued innovation.

Key Points: 
  • MSPR recently announced substantial business expansion through development of additional revenue streams, monetization of assignor interests, growth of assignors and existing business, and continued innovation.
  • MSPR has also reaffirmed revenue guidance that will either match or surpass the $992 million in gross revenue for 2022 set forth in its models.
  • MSPRs recovery efforts have been ongoing since 2014 when MSPR was originally founded and began trailblazing and revolutionizing the healthcare industry.
  • MSPR expects significant continued growth as it continues expanding its lines of business and the scale of its existing business.

MSP Recovery Announces Several New Partnerships

Retrieved on: 
Thursday, October 14, 2021

Since the business combination announcement in July, MSP Recovery has continued to evolve and has entered into new partnerships and created new platforms.

Key Points: 
  • Since the business combination announcement in July, MSP Recovery has continued to evolve and has entered into new partnerships and created new platforms.
  • MSP Recoverys 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.
  • These additional claims and expanded capabilities through new partnerships are a testament to the innovations MSP Recovery continues to pioneer.
  • MSP Recovery is proud to partner with Tokenology, combining Tokenologys blockchain-centric financial technology with MSP Recoverys strong data analytics platform.