- CEO
- Seamus Lagan
- Full Time Employees
- 96
- Sector
- Healthcare
- Industry
- Medical - Diagnostics & Research
- Address
- 400 South Australian Avenue West Palm Beach FL United States of America 33401
- IPO Date
- Oct 19, 1995
- Business
- Rennova Health, Inc. is a vertically integrated healthcare services company specializing in industry-leading diagnostics and supportive software solutions for healthcare providers in the United States. The company offers a diverse portfolio of core products and services including diagnostic laboratory testing and analytics; streamlined electronic health records (EHR) tailored for substance abuse and behavioral health providers as well as ambulatory EHR for physician practices; advanced transcription services; customizable laboratory information software scalable from small physician-operated labs to large clinical reference labs; medical billing and revenue cycle management services; and financial services. Its brands include Medytox Diagnostics, Advantage ClinLab, CollabRx, Medical Mime, Medical Billing Choices, and Platinum Financial Services. Rennova operates an acute care hospital in Oneida, Tennessee, among other healthcare service facilities. Founded in 1989, the company is headquartered in West Palm Beach, Florida.
Recently, Rennova Health completed significant strategic transactions involving stock exchange agreements with FOXO Technologies, Inc. These agreements include the sale of equity in Myrtle Recovery Centers, Inc., a behavioral health services subsidiary, for $500,000 in FOXO common stock, and the exchange of equity in Rennova Community Health, Inc., which owns Scott County Community Hospital (Big South Fork Medical Center), for $20 million in FOXO convertible preferred stock. The first transaction closed in mid-2024, and the second is anticipated to close upon shareholder approval in Q3 2024. These moves align with Rennova’s strategy to unlock capital while enhancing collaboration with FOXO, a company focused on epigenetic and AI-based healthcare technologies, to bring advanced solutions to behavioral health and community hospital operations. Rennova also plans to expand by opening new behavioral health facilities and adding services to existing locations, targeting patients primarily covered by Medicaid and Medicare. The company reported substantial revenue growth to over $13 million in 2022, with reduced operating losses, reflecting improving financial performance and operational efficiency.
Rennova Health serves diverse healthcare segments including diagnostics, behavioral health, hospital services, healthcare IT solutions, and revenue cycle management. Its interoperable solutions aim to improve clinical outcomes, patient care cost-effectiveness, and optimized revenue streams for healthcare providers. The company's strategic partnerships and technology integrations position it for continued innovation and growth in the healthcare sector. It maintains a commitment to regulatory compliance, accountability, and service excellence across its operations.
Overall, Rennova Health is focused on delivering comprehensive healthcare services through an expanding suite of brands and solutions, leveraging acquisitions and alliances to enhance its market presence and financial strength. The company’s operations span multiple states with a primary base in Florida and facilities in Tennessee.