MultiPlan Corporation - MPLN STOCK NEWS

MultiPlan Corporation reported strong Q4 2021 results, with revenues of $298.3 million, up 16.8% year-over-year. The company also achieved a net income of $24.9 million, bouncing back from a net loss of $173.3 million in Q4 2020. For the full year 2021, MultiPlan's revenues reached $1,117.6 million, a 19.2% increase, and net income was $102.1 million, recovering from a net loss of $520.6 million in 2020. The company has set 2022 outlook with revenues anticipated between $1,160 million and $1,200 million.

MultiPlan Corporation (NYSE:MPLN) announced participation in three key healthcare conferences in February and March 2022, aiming to highlight its value-added data analytics and cost management solutions for the U.S. healthcare sector. The conferences include the Citi 2022 Virtual Healthcare Conference on February 23, the JPMorgan Global High Yield & Leverage Finance Conference on March 1, and the Barclays Global Healthcare Conference on March 16. Investors can access live webcasts and audio archives on MultiPlan's website.

MultiPlan Corporation (NYSE:MPLN) has announced Dale White as its new CEO effective February 1, 2022, succeeding Mark Tabak, who retires after over 20 years. White has been with MultiPlan since 2004, serving in multiple leadership roles, including President and COO. He will also join the Board of Directors, which will now consist of twelve members. Tabak will transition to Chairman of the Board, continuing his strategic involvement in the company's growth. The company emphasizes its commitment to leveraging technology and analytics to support healthcare payors.

MultiPlan Corporation (NYSE:MPLN) announced its fourth quarter and full year 2021 financial results will be released on February 17, 2022, at 8:00 a.m. Eastern Time. The company will hold a conference call on the same day, allowing investors to register via a provided link. A live webcast will also be available through the company’s Investor Relations website. A supplemental slide deck will accompany the call, and a replay option will be accessible afterwards.

MultiPlan Corporation (NYSE:MPLN) has announced a new end-to-end Surprise Billing Service to assist healthcare payors in complying with the No Surprises Act, effective January 1, 2022. The service addresses the entire lifecycle of surprise billing, from identifying surprise bills to managing claims through arbitration. Additionally, MultiPlan is offering a No Surprises Act Knowledge Hub for resources and FAQs. This initiative aims to streamline compliance for healthcare payors amidst increasing regulatory pressures.

MultiPlan Corporation (NYSE:MPLN) announced the recipients of its 2021 Rural Health Grant, awarding three hospitals for innovative healthcare solutions. Cumberland Memorial Hospital in Wisconsin will enhance its Hybrid Cardiopulmonary Program with telehealth kits. Lavaca Medical Center in Texas aims to expand its Cardiopulmonary Rehabilitation Program with new equipment. Upper Connecticut Valley Hospital in New Hampshire will support its 'How Pain Works' education program for middle school students. MultiPlan's grant program has been supporting rural healthcare since 1995.

MultiPlan Corporation (NYSE:MPLN) announced participation in the BofA Leverage Finance Conference on December 1, 2021, at 12:45 pm ET. The new CFO, Jim Head, along with retiring CFO David Redmond and Senior VP of Finance Luke Montgomery, will represent the company. The event will be accessible via a live webcast on MultiPlan's investor relations website. MultiPlan specializes in data analytics and technology solutions for healthcare cost management, serving over 700 payors in various markets.

MultiPlan Corporation (NYSE:MPLN) announced the anticipated effectiveness of its resale registration statement on Form S-3, expected to be declared effective by the SEC on or about December 10, 2021. This registration will cover shares of Class A common stock from the conversion of $1,300 million in 6.00% / 7.00% Convertible Senior PIK Toggle Notes due 2027, initially issued on October 8, 2020. If fully converted, holders could receive shares valued at approximately $426 million at recent market prices.

MultiPlan Corporation (NYSE:MPLN) has appointed Dr. Benjamin Perryman as Vice President of Data Science Operations. Dr. Perryman, with over 15 years of experience, will implement an agile methodology aimed at enhancing client-centric analytical insights. This appointment is part of MultiPlan's strategic investment in technology and infrastructure to improve its claim repricing and negotiation services. Dr. Perryman previously held a significant role at MetLife and has expertise in machine learning, essential for addressing customer challenges.