03:51 AM EDT, 09/09/2024 (MT Newswires) -- MSP Recovery ( LIFW ) said Sunday it has launched an initiative to secure new agreements with health plans, providers, insurers, and attorneys.

The company said the initiative is expected to generate revenue through fees charged on savings from "unnecessary Medicare secondary payments."

Additionally, the company's largest creditor, Virage Capital Partners, has agreed to waive a provision that would accelerate the payment of dues to Virage in the event that MSP Recovery ( LIFW ) receives a negative going concern opinion from auditors for the year ending Dec. 31, 2024.

MSP Recovery ( LIFW ) is also in "similar advanced negotiations" with its second largest creditor, the company said.