RENNOVA HEALTH CONFIRMS INTENDED CLOSING DATE FOR ACQUISITION OF 85 BED HOSPITAL IN JAMESTOWN, TN AS JUNE 1, 2018
WEST PALM BEACH, Fla., May 14, 2018 (GLOBE NEWSWIRE) -- Rennova Health, Inc. (OTCQB: RNVA), (OTCQB: RNVAW) (“Rennova” or the “Company”), a vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers that recently announced the acquisition of its second Rural Hospital, is pleased to announce it has confirmed June 1st, 2018 as the expected closing date for its acquisition of an 85 bed hospital in Jamestown Tennessee.
While closing is subject to customary regulatory approvals and closing conditions the Company believes these are all scheduled to complete timely. The hospital known as Tennova Healthcare - Jamestown, and its associated assets are being acquired from Community Health Systems, Inc. (NYSE: CYH). The transaction also includes a Jamestown based doctor’s practice and clinic.
“We look forward to completing the acquisition of what will be our second hospital in the same geographic location at the end of this month and focusing on the successful integration with our existing business” said Seamus Lagan, Chief Executive Officer of Rennova. “We also look forward to completing the previously announced spin-offs of AMSG and our technology division in coming months. We continue to believe this will create additional value and opportunity for our shareholders and create separate public companies, each of which can focus on its own strengths and operational plans. We believe we can quickly achieve a cash-flow positive position in our new hospital division within the next few months and this combined with the spin-offs as planned should remove the need for additional capital to operate our business thereafter.”
About Rennova Health, Inc.
Rennova provides industry-leading diagnostics and supportive software solutions to healthcare providers, delivering an efficient, effective patient experience and superior clinical outcomes. Through an ever-expanding group of strategic brands that work in unison to empower customers, we are creating the next generation of healthcare. For more information, please visit www.rennovahealth.com.
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Sebastien Sainsbury, 561-666-9818
# # #
Released May 14, 2018