Rennova Health Announces the Opening of Big South Fork Medical Center Is on Track for August 8 Following CMS Regional Office Licensure Approval
WEST PALM BEACH, FL -- (Marketwired) -- 07/24/17 -- Rennova Health, Inc. (NASDAQ: RNVA) , (NASDAQ: RNVAZ) ("Rennova" or the "Company"), a vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers, announces the Life Safety and Licensure Survey conducted by the Tennessee Department of Health East Regional Office has concluded its inspection of Rennova's subsidiary Big South Fork Medical Center (legal name: Scott Community Hospital, Inc.), thereby approving the opening of Big South Fork Medical Center as planned for August 8, 2017.
Big South Fork Medical Center is a 25-bed rural Acute Care Facility that will apply for Critical Access Hospital designation after opening. The hospital will open with services that include a 24/7 emergency department along with radiology services that include X-ray, CT scan, ultrasound, nuclear medicine and MRI. Other available services will include a laboratory, respiratory therapy, physical therapy, a medical/surgical unit and swing beds.
The Big South Fork Medical Center was granted a Medicaid number on April 8, 2017 by the State of Tennessee Department of Finance and Administration, Division of Health Care Finance and Administration, Bureau of TennCare with a retrospective effective date of January 13, 2017. This was an important first step in the development of the Hospital, allowing Big South Fork Medical Center to contract with TennCare Managed Care Organizations.
The next step after opening will be the CMS site survey. Once the site survey is complete and any findings have been corrected, CMS will issue the hospital its Medicare number.
Tony Taylor, CEO of Scott Community Hospital, Inc., said, "I want to thank the managers and staff for the long hours and hard work in getting the facility ready for the many surveys we have been through so far. They have worn many hats and done many things outside the normal duties in order to get the hospital ready. I also want to give a big thanks to the Rennova team for their support in bringing back our hospital to the community. Lastly, I would also like to thank the many community leaders and business owners who have been supporting and guiding us through the process."
"It has been almost one year since we initiated this acquisition, and to get this hospital open demonstrates the first major success in our commitment to diversify our revenue stream from diagnostics services to include the provision of needed services," said Seamus Lagan, CEO of Rennova. "We believe the recurring and more predictable revenue we anticipate receiving from this hospital, while at the same time providing a needed service to a community, creates a new dawn for Rennova and our shareholders."
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.
Source: Rennova Health, Inc.
Released July 24, 2017