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Tritent International Corp. (OTC: TICJ) and Burst Technologies, Inc. have signed a Memorandum of Understanding (MOU) on September 24, 2024, outlining plans for a strategic merger. The proposed merger aims to introduce an AI-accelerated billing solution for recovering Medicare Part B costs in U.S. nursing homes. Key benefits include maximized reimbursement, efficiency boost, and enhanced accuracy in billing processes.
The merger structure involves Burst Technologies becoming a wholly owned subsidiary of Tritent. Burst Technologies executives will fill key management roles and appoint a majority of the Board of Directors in the merged entity. The companies will work together to finalize a Definitive Share Exchange Agreement.
Burst Technologies has developed a multi-year financial plan targeting the Nursing Care Facilities and Continuing Care Retirement Communities market, which represents 4% or $180 billion of the $4.5 trillion National Healthcare Expenditure marketplace.
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