a photo illustration shows a stethoscope and bloodpressure machine of a french general practitioner displayed in a doctors office january 7 2015 reutersregis duvignau july 12 reuters  msp recovery which helps recover money from medicare and medicaid secondary payments will go public through a deal with a blankcheck firm giving the combined company an enterprise value of 326 billion in the second biggest spac merger the deal with lionheart acquisition corp ii lcapo is expected to fetch 230 million in proceeds for msp it said on monday httpsrefinitv3wuaoov msp led by billionaire entrepreneur john ruiz collects and analyzes data on the governmentbacked medicare and medicaid insurance claims and then helps recover money owed to its clients which include hospitals health insurers and medical providers medicare and medicaid pay billions of dollars of healthcare claims they should not pay this harms taxpayers the underprivileged and americas senior citizens ruiz said our tools help fix this broken system medicare advantage plans cater to americans older than 65 and those with disabilities the floridabased company founded in 2014 earns a fee after a successful recovery the lionheart deal will help msp quickly buy claims portfolios while further growing its dataanalytics capabilities it said special purpose acquisition companies or spacs are shell companies that raise funds through an initial public offering to take a private company public through a merger at a later date lionheart raised 230 million in an initial public offering in august the companys shares were up 52 at 1040 in trading before the bell at 326 billion the merger is second in size only to the nearly 40 billion deal inked in april between southeast asias grab and altimeter growth corp agco read more the msp deal is also the largest since the us securities and exchange commission said it was considering new rules to protect investors amid a surge in the use of spacs as capitalraising vehicles read more it also pointed to a rebound in merger activity in the blankcheck space after wall streets appetite showed signs of waning following a period of frenetic dealmaking using the investment vehicle in the past few months biotech company ginkgo bioworks and softbankbacked mortgage startup better holdco have announced multibillion dollar deals with blankcheck vehicles read more lionheart stockholders who do not redeem shares of its common stock will be issued more than 1 billion warrants in connection with the merger the company said msps founders will sell an equivalent number of their shares back to the company so that the provision wont dilute the stocks value msp will list its stock on nasdaq under the ticker symbol mspr its existing and additional warrants will trade as lcap w and mspr w respectively keefe bruyette  woods served as the financial adviser to msp while nomura securities advised lionheart the deal is expected to be completed in the fourth quarter of 2021 reporting by noor zainab hussain niket nishant manas mishra additional reporting by sneha bhowmik and juby babu editing by sriraj kalluvila and shailesh kuber