MSP Recovery Enters Into Agreement With Mexico’s SeguriTech, a Technology Integration Pioneer, to Enhance MSPR’s Data Capabilities, Position MSPR for International Growth, and Expand the LifeWallet Platform Across Mexico

MSP Recovery, LLC (“MSP” or “MSPR”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader today announced it has entered into a Data Transfer Agreement (the “Agreement”) with one of the leaders in Mexican data and cybersecurity, SeguriTech, S.A. de C.V. (“SeguriTech”), positioning MSPR to expand its services internationally.

On May 18, 2022, Lionheart Acquisition Corporation II (Nasdaq: LCAPU, LCAP, LCAPW, “Lionheart” or “LCAP”), a publicly traded special purpose acquisition company, announced that shareholders of record as of April 18, 2022 approved the previously announced business combination (the “Business Combination”) with MSP Recovery, LLC, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader. The closing of the business combination is expected to occur today.

Following the closing of the business combination, LCAP’s Class A Common Stock will cease trading on the Nasdaq Capital Market under the symbol “LCAP”, and begin trading on Nasdaq Global Market under the symbol “MSPR”.

The Agreement with SeguriTech announced today positions MSPR to expand its LifeWallet platform – launched on January 10, 2022 – to the global healthcare marketplace where LifeWallet is actively pursuing expansion opportunities in countries that utilize the ICD-10 coding system, which is being implemented by World Health Organization (WHO) member states. Approximately 27 countries currently use ICD-10 for reimbursement and resource allocation in their health system, and the unchanged international version of ICD-10 is used in 117 countries for performing cause of death reporting and statistics.

LifeWallet is also part of MSP Recovery’s “Chase to Pay” platform, providing real-time analytics at the point of care, helping identify the primary insurer, assisting providers in receiving reasonable and customary rates for accident-related treatment, shortening MSPR’s collection time frame, and increasing revenue visibility and predictability.

With a population of more than 120 million, Mexico has a three-tiered healthcare system. In addition to private insurance, Mexico’s social security program, Instituto Mexicano de Seguro Social (IMSS), provides healthcare to employees in the private and public sectors as well as those voluntarily enrolled. The other offering in Mexico’s public health insurance system is Seguro Popular, which provides coverage to those who do not qualify for IMSS due to pre-existing conditions or for financial reasons. Seguro Popular largely covers Mexico’s homeless and unemployed population and is funded by both federal and state funds — similar to the United States’ Medicaid program.