Publicly Traded Tritent International Corp. and Burst Technologies, Inc. Sign MOU to Outline Strategic Merger Plans
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.
Tritent International Corp. (OTC: TICJ) e Burst Technologies, Inc. hanno firmato un Memorandum of Understanding (MOU) il 24 settembre 2024, delineando i piani per una fusione strategica. La fusione proposta mira a introdurre una soluzione di fatturazione accelerata dall'IA per recuperare i costi del Medicare Parte B negli ospedali per anziani negli Stati Uniti. I principali vantaggi includono massimizzazione dei rimborsi, aumento dell'efficienza e miglioramento della precisione nei processi di fatturazione.
La struttura della fusione prevede che Burst Technologies diventi una sussidiaria interamente controllata da Tritent. I dirigenti di Burst Technologies ricopriranno ruoli chiave di gestione e nomineranno la maggioranza del Consiglio di Amministrazione dell'entità fusa. Le aziende collaboreranno per finalizzare un Accordo Definitivo di Scambio azionario.
Burst Technologies ha sviluppato un piano finanziario pluriennale mirato al mercato delle Strutture per Assistenza agli Anziani e delle Comunità per Pensionati in Assistenza Continua, che rappresenta il 4% o 180 miliardi di dollari dei 4,5 trilioni di dollari della spesa sanitaria nazionale.
Tritent International Corp. (OTC: TICJ) y Burst Technologies, Inc. han firmado un Memorando de Entendimiento (MOU) el 24 de septiembre de 2024, delineando planes para una fusión estratégica. La fusión propuesta busca introducir una solución de facturación acelerada por IA para recuperar los costos de Medicare Parte B en los hogares de ancianos de EE. UU. Los beneficios clave incluyen maximización del reembolso, aumento de la eficiencia y mejora de la precisión en los procesos de facturación.
La estructura de la fusión implica que Burst Technologies se convierta en una subsidiaria de propiedad total de Tritent. Los ejecutivos de Burst Technologies ocuparán roles clave en la gestión y nombrarán a la mayoría de la Junta Directiva en la entidad fusionada. Las empresas trabajarán juntas para finalizar un Acuerdo Definitivo de Intercambio de Acciones.
Burst Technologies ha desarrollado un plan financiero a varios años enfocado en el mercado de Instalaciones de Cuidado de Ancianos y Comunidades de Retiro de Cuidado Continuo, que representa el 4% o 180 mil millones de dólares de los 4.5 billones de dólares del gasto nacional en salud.
Tritent International Corp. (OTC: TICJ)와 Burst Technologies, Inc.는 2024년 9월 24일 전략적 합병 계획을 outline하는 양해각서를 체결했습니다. 제안된 합병은 미국의 요양원에서 Medicare Part B 비용을 회수하기 위한 AI 가속 청구 솔루션을 도입하는 것을 목표로 하고 있습니다. 주요 혜택으로는 최대화된 환급, 효율성 증가 및 청구 프로세스의 정밀도 향상이 포함됩니다.
합병 구조는 Burst Technologies가 Tritent의 완전 소유 자회사로 전환되는 것입니다. Burst Technologies의 임원들이 주요 관리 역할을 수행하게 됩니다. 그들은 합병된 법인의 이사회의 대다수를 임명할 것입니다. 두 회사는 최종 주식 교환 계약을 체결하기 위해 함께 작업할 것입니다.
Burst Technologies는 노인 돌봄 시설 및 지속적인 돌봄 은퇴 커뮤니티 시장을 목표로 하는 다년간 재무 계획을 개발하였으며, 이는 4% 또는 1800억 달러로 4.5 조 달러의 국가 의료 비용 시장을 차지합니다.
Tritent International Corp. (OTC: TICJ) et Burst Technologies, Inc. ont signé un Mémorandum d'Entente (MOU) le 24 septembre 2024, décrivant les plans pour une fusion stratégique. La fusion proposée vise à introduire une solution de facturation accélérée par IA pour récupérer les coûts de Medicare Partie B dans les maisons de retraite aux États-Unis. Les avantages clés comprennent la maximisation des remboursements, l'augmentation de l'efficacité et une meilleure précision dans les processus de facturation.
La structure de la fusion implique que Burst Technologies devienne une filiale à part entière de Tritent. Les dirigeants de Burst Technologies occuperont des rôles clés en matière de gestion et nommeront la majorité du conseil d'administration de l'entité fusionnée. Les entreprises travailleront ensemble pour finaliser un Accord d'Échange d'Actions Définitif.
Burst Technologies a élaboré un plan financier pluriannuel visant le marché des Établissements de Soins aux Personnes Âgées et des Communautés de Retraite en Soins Continus, représentant 4 % ou 180 milliards de dollars des 4,5 trillions de dollars de dépenses nationales de santé.
Tritent International Corp. (OTC: TICJ) und Burst Technologies, Inc. haben am 24. September 2024 ein Memorandum of Understanding (MOU) unterzeichnet, das die Pläne für eine strategische Fusion umreißt. Die vorgeschlagene Fusion zielt darauf ab, eine KI-beschleunigte Abrechnungslösung zur Rückforderung der Medicare Teil B Kosten in US-Pflegeheimen einzuführen. Zu den wichtigsten Vorteilen gehören maximierte Rückerstattungen, Effizienzsteigerung und verbesserte Genauigkeit in den Abrechnungsprozessen.
Die Fusionsstruktur sieht vor, dass Burst Technologies ein vollständig im Besitz von Tritent befindliches Tochterunternehmen wird. Die Führungskräfte von Burst Technologies werden wichtige Managementpositionen einnehmen und einen Großteil des Vorstands der fusionierten Einheit ernennen. Die Unternehmen werden zusammenarbeiten, um einen endgültigen Aktienaustauschvertrag abzuschließen.
Burst Technologies hat einen mehrjährigen Finanzplan entwickelt, der auf den Markt der Pflegeeinrichtungen und der betreuten Wohnanlagen abzielt, der 4% oder 180 Milliarden US-Dollar der 4,5 Billionen US-Dollar an nationalen Gesundheitsausgaben ausmacht.
- Strategic merger to introduce AI-accelerated billing solution for nursing homes
- Potential for maximized reimbursement of Medicare Part B costs for nursing homes
- Targeting a $180 billion market segment within the healthcare industry
- Integration of Burst Technologies' expertise into Tritent's public company structure
- Potential dilution for existing Tritent shareholders due to share issuance for the merger
- Integration challenges and costs associated with merging two companies
- Regulatory risks and compliance requirements for the merged entity
New Partnership Builds AI-Driven Healthcare Billing Solutions for U.S. Nursing Homes.
LAS VEGAS, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Tritent International Corp. ("Tritent"), a US public company (US OTC: TICJ), and Burst Technologies, Inc. ("Burst Technologies"), a Delaware corporation, are pleased to announce the signing of a Memorandum of Understanding ("MOU") that outlines the key terms and conditions for a proposed strategic merger. The MOU was officially executed on September 24, 2024.
In a groundbreaking move to enhance healthcare billing efficiency, Burst Technologies and Tritent are excited to announce their potential merger, which introduces the build out of an AI-accelerated billing solution designed to recover Medicare Part B costs for nursing homes across the United States where in most cases currently goes unrecovered. This innovative technology aims to streamline billing processes, reduce administrative burdens, and ensure that nursing homes receive maximum reimbursement for these products and services.
Key Benefits of Burst’s AI-Accelerated Healthcare Solution
Maximized Reimbursement: Nursing homes can achieve direct recovery of Medicare Part B costs, significantly improving their bottom line.
Efficiency Boost: Automated processes reduce the time and effort required for billing, freeing up staff and resources to focus more on patient care.
Enhanced Accuracy: Technology and AI-driven algorithms minimize errors and optimize claim submissions and help ensure compliance with Medicare and insurance regulations.
Key Points of the MOU
This proposed merger is designed to enhance the capabilities and market presence of both organizations by integrating Burst Technologies as a wholly owned subsidiary of Tritent.
Merger Structure: Under the proposed terms, Tritent will become the primary entity, and Burst Technologies will be integrated as a wholly owned subsidiary, ensuring operational continuity and strategic alignment between the companies.
Governance and Management: Post-merger, key management and operational roles within Tritent will be filled by executives from Burst Technologies. Additionally, Burst Technologies will appoint a majority of the Board of Directors of the merged entity, ensuring a cohesive leadership team.
Share Exchange: As part of the merger, Tritent will issue common restricted shares in accordance with the Definitive Share Exchange Agreement, facilitating the acquisition of Burst Technologies.
Good Standing and Compliance: Both companies have committed to maintaining good standing with relevant regulatory bodies and ensuring compliance with all applicable laws, including those set forth by the OTC Markets, FINRA, and the State.
Mutual Responsibilities: The MOU emphasizes the spirit of cooperation, transparency, and mutual respect between the parties. Both Tritent and Burst Technologies will work together diligently to finalize the Definitive Share Exchange Agreement and ensure the success of the merger.
Market Size: Burst Technologies has developed a multi-year financial plan, focusing on expanding its client base and boosting revenue inside the Nursing Care Facilities and Continuing Care Retirement Communities representing
"This MOU represents an exciting opportunity for both companies to leverage each other's strengths and drive growth in our respective markets," said Reno J. Calabrigo, CEO of Tritent International Corp. "We are confident that this merger will create significant value for our shareholders and position us for long-term success."
Eric Hansen, CEO of Burst Technologies, added, "This partnership marks the first step toward making the nursing home industry a leader in technology. We’ll start by building the first AI-driven billing solution specifically for nursing homes. From there, we’ll continue pushing boundaries to bring fresh innovation to an industry ready for transformation. Our goal is not just to modernize long-term care, but to set a new tech standard for the entire sector, and we’re confident this merger offers an exciting path for our shareholders."
The MOU sets the framework for the negotiation and execution of a Definitive Share Exchange Agreement, which both parties expect to finalize in the coming weeks.
About Burst Technologies, Inc.
Burst is building out an AI-accelerated healthcare billing solution designed for America's nursing homes, addressing a critical gap where many Medicare Part B supply costs currently go unrecovered. Currently, Burst supports 30 nursing homes and over 3,000 residents, ensuring they receive the healthcare returns they deserve. With a market size serving 1.6 million elderly residents across 16,700 facilities, Burst can ensure that essential Medicare reimbursements are accessible, transforming the way nursing homes manage healthcare billing. With a focus on healthcare inclusion, Burst's success-based model allows any nursing home to sign up at no upfront cost, delivering reimbursements directly to their bank accounts. For more information please visit, www.burstmedicalbilling.com.
About Tritent International Corp.
Tritent International Corp. (US OTC: TICJ) is focused on the acquisition of controlling equity interests in disruptive companies by taking an active role to improve their growth, provide capital and management expertise.
For more information, please contact:
Tritent International Corp.
Reno Calabrigo, Director
Email: info@tritentintlcorp.com
Burst Technologies, Inc.
Eric Hansen, Director
Email: Eric@Burstbilling.com
Safe Harbor Statement
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements, as well as other risks discussed from time to time in our filings with OTC Markets, including, without limitation, our latest Quarterly Report filed on August 13th, 2024. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.
Footnote
1: references Centers for Medicare & Medicaid Services, Office of the Actuary, “National Health Expenditures 2022 Highlights” https://www.cms.gov/newsroom/fact-sheets/national-health-expenditures-2022-highlights
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65b45d29-324a-4e7c-8687-64bd4f854a51
FAQ
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