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Lyric Acquires ClaimShark to Expand Value and Power Next-Gen AI Applications

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Lyric, a leader in healthcare payment accuracy and integrity solutions, today announced its acquisition of ClaimShark, an innovative payment integrity technology platform focused on enhancing integration, transparency, and precision for health plans. The acquisition marks significant progress towards Lyric’s mission to simplify the business of care – delivering smarter, faster, and more accurate transactions across the healthcare ecosystem. Transaction inaccuracies cost the US healthcare system over half a trillion dollars annually, significantly impacting health plans, their network providers, and the members they serve. With this acquisition, Lyric can now offer offer innovative tools and strategies to simplify and optimize payment integrity operations before and after payments are made, enabling health plans to maximize value and improve relationships with their network providers and members.

PHILADELPHIA, April 22, 2025 /PRNewswire-PRWeb/ — Lyric, a leader in healthcare payment accuracy and integrity solutions, today announced its acquisition of ClaimShark, an innovative payment integrity technology platform focused on enhancing integration, transparency, and precision for health plans. ClaimShark’s solutions will be integrated into the Lyric 42 Platform, Lyric’s AI-driven offering that provides health plans with comprehensive payment accuracy solutions. The acquisition marks significant progress towards Lyric’s mission to simplify the business of care – delivering smarter, faster, and more accurate transactions across the healthcare ecosystem.

This exciting step accelerates our evolution in areas where we have unique expertise, data and insights. ClaimShark’s capabilities align with our purpose of reducing complexity in the healthcare continuum, creating a simpler, more efficient system centered on patients. —Raj Ronanki, Lyric CEO

Streamlining and Simplifying Healthcare Transactions to Eliminate Waste

Transaction inaccuracies cost the US healthcare system over half a trillion dollars annually, significantly impacting health plans, their network providers, and the members they serve. To address these inefficiencies, ClaimShark offers innovative tools and strategies to simplify and optimize payment integrity operations before and after payments are made, enabling health plans to maximize value and improve relationships with their network providers and members.

Key solutions include:

Virtuoso: Virtuoso is a differentiated payment integrity command center providing resource planning, automated workflow, and controls for payment integrity operations. Virtuoso centralizes management and orchestration of claims, data, vendors, rules, and workflows. Virtuoso also enables the use of advanced generative AI & agents to address issues impacting medical trends, providing automated solutions while ensuring human oversight in clinical decision-making.Replay: Replay empowers health plan audit teams to swiftly review claims, surface inaccuracies, and take corrective action. Purpose-built for payment integrity operations, Replay brings automation, structure, and intelligence to previously manual workflows, dramatically increasing speed, precision, and ROI for customers.

Powerful Combined Platform

Combining ClaimShark with Lyric42 results in a platform with unique, AI-driven capabilities, including:

A plug-and-play AI/Cloud foundation, available now, that connects payers to a deep library of pre-pay editing, data analytics, and overpayment detection tools – some developed in-house, others by trusted partners.Studio 42, a dynamic new interface guided by the belief that “AI is the new UI.” Launching in the coming months, it will offer real-time trend insights, automated content creation, and intuitive, agentic workflows for maximum user impact.

Leadership Perspectives

“This acquisition is a transformational step for Lyric and represents progress toward our long-term goal of scaling the business in areas where we have unique expertise, data and insights,” said Rajeev Ronanki, CEO of Lyric. “ClaimShark’s Virtuoso and Replay capabilities are an ideal match for Lyric’s platform and align strongly with our purpose of reducing complexity across the healthcare continuum by creating a simpler, more efficient system centered around patients.”

Ravi Umarji, Lyric’s Chief Financial and Strategy Officer, added: “Lyric’s acquisition of ClaimShark accelerates our evolution beyond pre-pay editing, and represents important progress towards our mission to drive transparency and efficiency in the healthcare system. We believe this acquisition positions us well for future organic and inorganic growth opportunities, and we look forward to leveraging our combined expertise and relationships to offer innovative solutions at scale.”

Suresh Kothapalli, ClaimShark CEO and co-founder, shared: “By joining Lyric, we’re amplifying the value we can deliver across the board – from health plans to providers to members. Together, we’re building a more intelligent and integrated healthcare payments system that expands accuracy and reduces complexity.”

Ram Davaloor, ClaimShark co-founder and Lyric’s new GM & President, Platforms, concluded: “Joining Lyric allows us to tackle some of healthcare’s biggest challenges head-on. Together, we’re developing a real-time intelligence platform that empowers health plans to predict trends, act early, and deliver greater value with precision.”

About Lyric

Lyric is a platform-based healthcare technology company, committed to simplifying the business of care by preventing inaccurate payments and reducing overall waste in the healthcare ecosystem, enabling more efficient use of resources to reduce cost of care that benefits payers, providers, and patients. Lyric, formerly ClaimsXten, is a market leader with 35 years of pre-pay editing expertise, dedicated teams, and top technology. Lyric is proud to be 2025 Best in KLAS for Pre-payment Accuracy and Integrity and is HI-TRUST and SOC2 certified. Discover more at Lyric.ai.

Lyric’s payment accuracy solutions help to reduce inaccurate claims payments that bog down the healthcare ecosystem, causing abrasion and slowing down timely payments to providers for care that has already been provided. By doing so, Lyric can help to reduce the growing waste in the healthcare system, enabling more efficient use of resources to reduce cost of care and benefit payers, providers, and patients.

About ClaimShark

ClaimShark is a trusted name in payment integrity solutions, born out of the expertise and innovation of iSpace, ClaimShark’s parent company. Recognizing the growing need for a specialized platform to address the unique challenges in payment integrity led to the creation of ClaimShark’s solutions—cutting-edge payment integrity and audit tools designed to help health plans maximize their payment accuracy value, optimize vendor selection, and automate backend payment integrity operations, making payment integrity operations more efficient and scalable.

Media Contact

Amy Churchill, Lyric, 1 7248414450, amy.churchill@lyric.ai, Lyric

View original content to download multimedia:https://www.prweb.com/releases/lyric-acquires-claimshark-to-expand-value-and-power-next-gen-ai-applications-302434712.html

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Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education

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WOODS HOLE, Mass., July 23, 2026 /PRNewswire/ — The Marine Biological Laboratory (MBL) has appointed Nicole A. Theodosiou, Ph.D., as its next Burroughs Wellcome Director of Education at the Marine Biological Laboratory. She will join the MBL on September 8.

Theodosiou brings more than two decades of experience in science education, academic leadership, and program development. She joins the MBL from Union College in Schenectady, New York, where she held a number of leadership roles focused on curriculum innovation, faculty development, and undergraduate STEM education. Most recently, she served as Special Projects Director for Initiatives in Pedagogy & Course Design. Previously, she directed the Howard Hughes Medical Institute Inclusive Excellence Initiative, led the Biochemistry Program, and served as a faculty member in the Department of Biology.

Throughout her career, Theodosiou has developed interdisciplinary educational programs, led faculty development initiatives, and advanced innovative approaches to teaching and learning. She is a member of the Society for Developmental Biology Academy and served on the Society’s Board of Directors as chair of its Professional Development and Education Committee, where she helped create professional development programs and educational resources for scientists nationwide.

At the MBL, Theodosiou will lead the institution’s educational programs, including its internationally renowned Advanced Research Training Courses (ARTCs), undergraduate and high school programs, and other educational initiatives that support the Laboratory’s mission of advancing biological discovery through research and education.

“Education has been central to the MBL’s mission since our founding in 1888,” said Nipam H. Patel, Director of the MBL. “Nicole brings a remarkable combination of scientific expertise, educational leadership, and strategic vision. Her commitment to experiential learning and developing innovative educational programs makes her an outstanding addition to our leadership team as we work to magnify the MBL’s educational impact for the next generation of scientists. “

Theodosiou has maintained a longstanding connection to the MBL throughout her career. She participated in the Laboratory’s Gene Regulatory Networks course in 2015, collaborated with the Marine Resource Center in support of her research, and has mentored students who have participated in MBL educational programs. She has described the MBL’s educational ecosystem as “unparalleled” and its tradition of learning by doing as closely aligned with her own philosophy of science education.

“The MBL has always been a place where scientific discovery and education go hand in hand,” said Theodosiou. “Its tradition of learning by doing and global community has inspired generations of researchers, including myself. I’m honored to join the MBL community and look forward to strengthening and building on its extraordinary legacy to inspire and train the next generation of scientists. “

Theodosiou earned a Ph.D. in Genetics from Yale University and a bachelor’s degree in biology from Swarthmore College. Her research as a developmental biologist has focused on vertebrate evolution and development, while her educational leadership has emphasized creating accessible, research-driven learning environments that integrate science, education, and communication.

About the Marine Biological Laboratory

The Marine Biological Laboratory (MBL) is dedicated to scientific discovery—exploring fundamental biology, understanding biodiversity and the environment, and informing the human condition through research and education. Founded in Woods Hole, Massachusetts, in 1888, the MBL is a private, nonprofit institution.

Media Contact:
Samantha Cummis
Scummis@mbl.edu
973-800-4118

View original content to download multimedia:https://www.prnewswire.com/news-releases/marine-biological-laboratory-appoints-nicole-a-theodosiou-as-burroughs-wellcome-director-of-education-302833514.html

SOURCE Marine Biological Laboratory

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Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education

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WOODS HOLE, Mass., July 23, 2026 /PRNewswire/ — The Marine Biological Laboratory (MBL) has appointed Nicole A. Theodosiou, Ph.D., as its next Burroughs Wellcome Director of Education at the Marine Biological Laboratory. She will join the MBL on September 8.

Theodosiou brings more than two decades of experience in science education, academic leadership, and program development. She joins the MBL from Union College in Schenectady, New York, where she held a number of leadership roles focused on curriculum innovation, faculty development, and undergraduate STEM education. Most recently, she served as Special Projects Director for Initiatives in Pedagogy & Course Design. Previously, she directed the Howard Hughes Medical Institute Inclusive Excellence Initiative, led the Biochemistry Program, and served as a faculty member in the Department of Biology.

Throughout her career, Theodosiou has developed interdisciplinary educational programs, led faculty development initiatives, and advanced innovative approaches to teaching and learning. She is a member of the Society for Developmental Biology Academy and served on the Society’s Board of Directors as chair of its Professional Development and Education Committee, where she helped create professional development programs and educational resources for scientists nationwide.

At the MBL, Theodosiou will lead the institution’s educational programs, including its internationally renowned Advanced Research Training Courses (ARTCs), undergraduate and high school programs, and other educational initiatives that support the Laboratory’s mission of advancing biological discovery through research and education.

“Education has been central to the MBL’s mission since our founding in 1888,” said Nipam H. Patel, Director of the MBL. “Nicole brings a remarkable combination of scientific expertise, educational leadership, and strategic vision. Her commitment to experiential learning and developing innovative educational programs makes her an outstanding addition to our leadership team as we work to magnify the MBL’s educational impact for the next generation of scientists. “

Theodosiou has maintained a longstanding connection to the MBL throughout her career. She participated in the Laboratory’s Gene Regulatory Networks course in 2015, collaborated with the Marine Resource Center in support of her research, and has mentored students who have participated in MBL educational programs. She has described the MBL’s educational ecosystem as “unparalleled” and its tradition of learning by doing as closely aligned with her own philosophy of science education.

“The MBL has always been a place where scientific discovery and education go hand in hand,” said Theodosiou. “Its tradition of learning by doing and global community has inspired generations of researchers, including myself. I’m honored to join the MBL community and look forward to strengthening and building on its extraordinary legacy to inspire and train the next generation of scientists. “

Theodosiou earned a Ph.D. in Genetics from Yale University and a bachelor’s degree in biology from Swarthmore College. Her research as a developmental biologist has focused on vertebrate evolution and development, while her educational leadership has emphasized creating accessible, research-driven learning environments that integrate science, education, and communication.

About the Marine Biological Laboratory

The Marine Biological Laboratory (MBL) is dedicated to scientific discovery—exploring fundamental biology, understanding biodiversity and the environment, and informing the human condition through research and education. Founded in Woods Hole, Massachusetts, in 1888, the MBL is a private, nonprofit institution.

Media Contact:
Samantha Cummis
Scummis@mbl.edu
973-800-4118

View original content to download multimedia:https://www.prnewswire.com/news-releases/marine-biological-laboratory-appoints-nicole-a-theodosiou-as-burroughs-wellcome-director-of-education-302833514.html

SOURCE Marine Biological Laboratory

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Canada’s investment industry and business community welcome Ontario’s commitment to join regulatory passport system

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Industry, business, and professional associations voice strong support for greater regulatory harmonization and a more competitive Canadian economy

TORONTO, July 23, 2026 /CNW/ — Canada’s investment industry and business community welcome Ontario’s commitment to join the country’s securities regulatory passport system, marking a significant step toward greater regulatory harmonization and a more efficient and competitive Canadian capital market.

A coalition of associations representing firms and professionals from across Canada’s capital markets sector, together with a broad cross-section of the business community, strongly supports the announcement by Ontario Finance Minister Peter Bethlenfalvy at the recent meeting of Canada’s finance ministers, convened by Federal Finance Minister Francois-Philippe Champagne, and supported by their provincial and territorial counterparts.

Ontario’s participation in the passport system will make it easier for firms to operate and raise capital across Canada, while reducing unnecessary regulatory duplication and costs. More broadly, it advances the national effort to remove internal trade barriers, boost productivity and strengthen Canada’s economic competitiveness.

The passport system has already demonstrated that greater regulatory coordination can be achieved while respecting provincial jurisdiction. Participating regulators retain their authority and distinct roles, while firms benefit from a system in which decisions made by a principal regulator are generally recognized across participating jurisdictions.

Ontario’s participation creates an opportunity not only to reduce duplication but also to strengthen the system as a whole. A more integrated model can better leverage the expertise and capabilities of regulators across the country, creating opportunities for greater regulatory specialization and leadership in areas where individual jurisdictions have particular strengths.

For firms, greater harmonization means more predictable regulation, less duplication, and a more efficient regulatory environment. For investors, it supports a framework that maintains strong investor protection while responding more effectively to an increasingly complex and competitive global marketplace. For Canada, it helps create a more attractive environment in which to invest, launch new products and raise capital.

This coalition stands ready to work with governments and securities regulators across Canada to support Ontario’s timely and successful implementation of the passport system and build on the progress already made. We encourage all parties to move quickly to bring Ontario into the existing framework, while preserving the features that have made the passport system work so effectively.

Ontario’s commitment is a milestone and an important step toward a more integrated, efficient and competitive capital market that will strengthen the Canadian economy and better serve Canadian investors and businesses.

About the coalition

The Canadian Bankers Association (CBA) is the voice of more than 60 domestic and foreign banks that help drive Canada’s economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals. 

The Canadian ETF Association (CETFA) is the national voice of Canada’s ETF industry, representing approximately 96 per cent of exchange traded fund (ETF) assets in Canada. CETFA promotes the growth, sustainability and integrity of Canada’s ETF industry. It keeps investment professionals informed about ETF developments, educates investors about ETFs and their benefits, and debunks ETF myths.

CFA Societies Canada is a collaboration of the 12 Canadian CFA Institute member societies, representing over 21,000 CFA charter holders in Canada. Its mission is to lead the investment profession in Canada by advancing the highest professional standards, integrity, and ethics for the ultimate benefit of Canadian society.

Chartered Professional Accountants of Canada (CPA Canada) is one of the most influential accounting organizations in the world. As a non-regulatory body comprised of individual CPA members, CPA Canada supports the profession and represents Canadian CPAs at the national and international levels. Nationally, CPA Canada acts in the public interest to promote transparency in financial markets, prepares CPAs for a rapidly evolving business environment through extensive guidance and programming and contributes to standard setting and policy making. Globally, CPA Canada works together with international bodies to build a stronger accounting profession worldwide. Its dedicated efforts help shape public policy, influence regulatory frameworks and establish high professional standards that reflect the evolving needs of the accounting industry.

The Alternative Investment Management Association (AIMA) is the global representative of the alternative investment industry, with around 2,100 corporate members in over 60 countries. AIMA’s fund manager members collectively manage more than US$4 trillion in hedge fund and private credit assets. AIMA draws upon the expertise and diversity of its membership to provide leadership in industry initiatives such as advocacy, policy and regulatory engagement, educational programs and sound practice guides. AIMA works to raise media and public awareness of the value of the industry. AIMA set up the Alternative Credit Council (ACC) to help firms focused in the private credit and direct lending space. The ACC currently represents over 250 members that manage US$2 trillion of private credit assets globally. AIMA is committed to developing skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the first and only specialized educational standard for alternative investment specialists. AIMA is governed by its Council (Board of Directors). AIMA was founded in 1990, with the AIMA Canada subsidiary formed in 2003.

The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC convenes, mobilizes and empowers business and local chambers in pursuit of its purpose: to bring inclusive and sustainable prosperity to Ontario’s businesses, workers, and communities.

The Pension Investment Association of Canada (PIAC) has been the foremost voice for Canadian pension funds in matters related to pension investment and governance since 1977. PIAC is composed of over 130 of the largest pension plans in the country who manage over $3.5 trillion of assets on behalf of millions of Canadians. Its mission is to promote sound investment practices and good governance for the benefit of plan sponsors and beneficiaries.

The Portfolio Management Association of Canada (PMAC) represents over 300 asset management firms that manage more than $4 trillion in assets. Members are all fiduciaries managing investments in the best interests of their clients, which include private individuals, foundations, universities and pension plans. PMAC employs a collaborative information-sharing business model and advocates on behalf of its members on securities regulation and government policy matters. The association’s mission is to advocate the highest standards of unbiased portfolio management in the interest of investors served by members.

The Securities and Investment Management Association (SIMA) empowers Canada’s investment industry. The association, formerly The Investment Funds Institute of Canada (IFIC), is the leading voice for the securities and investment management industry, which oversees approximately $4.5 trillion in assets for over 20 million investors and the Canadian capital markets. Our members–including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers–are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.

SOURCE Securities and Investment Management Association

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