Business
Rennova Health Reports Third Quarter 2017 Financial Results
Rennova Health Reports Third Quarter 2017 Financial Results.
About this update from Rennova Health, Inc.
[{"type":"text","content":"\nRennova Health Reports Third Quarter 2017 Financial Results\n\nRennova Health Reports Third Quarter 2017 Financial Results\n\n WEST PALM BEACH, FL --(Marketwired - November 20, 2017) - Rennova Health, Inc. (OTCQB: RNVA) (OTCQB: RNVAW), a vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers that opened its first rural hospital in Oneida, Tennessee on August 8, 2017, reports financial results for the three and nine months ended September 30, 2017 and provides a business update.Rennova is a provider of an expanding number of services for healthcare providers and their patients. We currently operate in three synergistic divisions: 1) clinical diagnostics through our clinical laboratories; 2) supportive software solutions to healthcare providers including electronic health records (\"EHR\"), laboratory information systems (\"LIS\") and medical billing services; and 3) the recent addition of a hospital in Tennessee. We believe our approach will produce a sustainable relationship with customers and will capture multiple revenue streams from the provision of needed services and solutions to medical providers.We intend to expand our business operations in each sector in which we operate and will continue to assess the best way to do so to provide value for our shareholders. Highlights from the third quarter of 2017 and recent weeks include:Raised proceeds of $4.0 million from a private placement of convertible preferred stockOpened the Big South Fork Medical Center in August, followed by receipt of a certification number from the Centers for Medicare and Medicaid Services (\"CMS\") subsequent to regional office licensure approvalWon an appeal in the Eleventh Circuit Court of Appeals in a lawsuit filed by Rennova against CIGNA for failure to pay claims for laboratory servicesRaised $9.0 million in a private placement of convertible notes and the restructuring of existing debt\"The reopening in August of Big South Fork Medical Center in Oneida, Tennessee was a momentous event for Rennova, as we have identified the rural hospital segment as a key area for expansion for the Company,\" said Seamus Lagan, Rennova's chief executive officer. \"This sector offers our Company a predictable and reliable revenue from the provision of services that are needed in the local community...