MultiPlan Corporation - MPLN STOCK NEWS

MultiPlan Corporation (NYSE:MPLN) released a letter to stockholders affirming the strength of its relationship with UnitedHealthcare (UHC), despite false allegations of an impending contract termination. The company reported five consecutive quarters of strong earnings and raised its full-year revenue and EBITDA guidance. Recent testimony from a former UHC executive confirmed there were no plans to terminate the relationship, contradicting opportunistic narratives by short sellers. Additionally, MultiPlan's revenue from UHC has grown by over 30% in three years, indicating a robust partnership.

MultiPlan Corporation (NYSE:MPLN) announced a live conference call on November 8, 2021, at 8:00 am to discuss recent stock volatility. Investors can join by dialing (646) 876-9923 with conference ID 931 8713 5118. MultiPlan aims to assist healthcare payors in managing costs and enhancing competitiveness through technology and data analytics. The company serves over 700 healthcare payors across various markets, offering customized solutions for payment and revenue integrity.

MultiPlan Corporation (NYSE:MPLN) has submitted a resale registration statement to the Securities and Exchange Commission on November 4, 2021. This statement relates to the offer and resale of its Class A common stock, available upon conversion of $1,300 million of Convertible Senior PIK Toggle Notes due 2027. Currently, the notes can be converted at a rate of 76.9231 shares per $1,000 principal, equating to an initial conversion price of approximately $13.00 per share. The company reports no conversion requests at this time.

MultiPlan Corporation (NYSE: MPLN) announced participation in the Credit Suisse 30th Annual Healthcare Conference via a virtual format on November 11, 2021, at 4:20 PM ET. The Company provides data analytics and cost management solutions to the U.S. healthcare industry, serving over 700 healthcare payors. CEO Mark Tabak, CFO David Redmond, and SVP Luke Montgomery will represent MultiPlan at the conference, highlighting their commitment to improving healthcare costs and enhancing competitiveness through innovative solutions.

MultiPlan Corporation (NYSE: MPLN) reported significant financial results for Q3 2021, with revenues of $288.2 million, a 28.9% increase from Q3 2020. The company achieved a net income of $78.2 million compared to a net loss of $288.4 million in the prior year. Adjusted EBITDA rose 31.9% to $218.4 million. MultiPlan also announced increased revenue guidance for Q4 2021, projecting revenues between $285 million and $300 million and Adjusted EBITDA of $215 million to $225 million. The company processed approximately $31.2 billion in claims during Q3, identifying potential savings of $5.5 billion.

MultiPlan Corporation (NYSE:MPLN) has announced the appointment of Liz Longo as Vice President of Subrogation & Arbitration Solutions. Longo will oversee the company’s arbitration services under the No Surprises Act, aimed at preventing unexpected medical bills. Her experience comes from leading Subrogation services at Discovery Health Partners. MultiPlan is positioned to assist healthcare payors in complying with the Act's regulations, addressing the upcoming deadlines effectively. Longo aims to ensure that customers are well-prepared and compliant.

MultiPlan Corporation (NYSE:MPLN) has announced it will release its third quarter 2021 financial results on November 3, 2021, at 10:00 a.m. ET. The company provides data analytics and technology-enabled cost management solutions to the U.S. healthcare industry. Interested parties can register for the conference call and access a live webcast via the Investor Relations section of MultiPlan's website. A replay will be available within two hours after the call. MultiPlan supports over 700 healthcare payors with innovative solutions aimed at cost management and revenue integrity.

MultiPlan Corporation (NYSE:MPLN) has updated its Payment and Revenue Integrity services following the acquisition of Discovery Health Partners in February. This enhancement aims to assist payors in converting recoveries into opportunities for correction and prevention across the lifecycle of healthcare claims. MultiPlan's services include pre-payment clinical reviews, coordination of benefits, and data mining, utilizing both machine learning and human expertise to ensure accurate claim payments.