MSP Recovery to go public via nearly $33 billion mega SPAC deal

(Reuters) -MSP Recovery, which helps recover money from Medicare and Medicaid secondary payments, will go public through a deal with a blank-check firm, giving the combined company an enterprise value of $32.6 billion in the second biggest SPAC merger. MSP, led by billionaire entrepreneur John Ruiz, collects and analyzes data on the government-backed Medicare and Medicaid insurance claims, and then helps recover money owed to its clients, which include hospitals, health insurers and medical providers. Special purpose acquisition companies, or SPACs, are shell companies that raise funds through an initial public offering to take a private company public through a merger at a later date.

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