Shares of Rennova Health (NASDAQ: RNVA) are up 21% after the company said the Centers for Medicare and Medicaid Services (CMS) has concluded its review of the application requesting enrollment in the Medicare program as a hospital. The application was submitted by the company’s subsidiary, Big South Fork Medical Center (legal name: Scott Community Hospital, Inc.). CMS has confirmed that it has issued a recommendation for approval to the Tennessee State Agency and the CMS Regional Office. Approval will allow the hospital to open for business. It is on track to partially open during the second quarter of 2017 and be fully operational during the third quarter of this year. “We believe that this Hospital creates an exciting opportunity for Rennova to provide a needed service to patients and in turn have a more predictable and reliable revenue stream. We look forward to this Hospital opening and exploring other opportunities in the same sector,” Rennova Health CEO Seamus Lagan stated in the news release.
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About Rennova Health, Inc.
Rennova provides 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, the company is engaged in creating the next generation of healthcare. For more information, please visit www.rennovahealth.com.
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