By Josh Beckerman
Shares of Claritev rose after it reported revenue in the fourth quarter on par with its previously issued guidance.
The stock increased 18%, to $23.13, midday Wednesday and is up about 57% this year.
Claritev said it had fourth-quarter revenue of $232.1 million, down 4.9% from a year earlier but slightly up from the third-quarter figure of $230.5 million. The company guided in November for fourth-quarter results similar to the third quarter.
The company, which changed its name from MultiPlan, said it would trade under a new ticker symbol, CTEV, on Friday. The company's operations include analytics-based services that detect medical claims over-charges and recommend reimbursement amounts for out-of-network costs, and operation of preferred provider networks.
Net loss was $138 million, compared with a loss of $31.4 million a year earlier, partly due to an impairment charge stemming from the name change.
Claritev expects 2025 revenue between a 2% decline and flat compared with 2024.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 26, 2025 14:05 ET (19:05 GMT)
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