Biotech

Rennova Health Updates Shareholders Through CEO Letter

Biotech

Rennova Health’s CEO Seamus Lagan issued a letter to shareholders on the progress of the company.

Rennova Health’s (NASDAQ:RNVA) CEO Seamus Lagan issued a letter to shareholders on the progress of the company.
As quoted in the press release:

To My Fellow Stockholders:
I would like to take this opportunity to update you on our activities and progress, and to share with you some insights into our Company’s direction through 2018. Importantly, by the end of 2017 we expect to have our corporate and business restructuring process complete!
On August 8, 2017, Big South Fork Medical Center, our hospital in Tennessee, opened its doors and marked the start of a new journey for Rennova, one where we will be providing needed services with less reliance on sales efforts and the associated costs. This hospital historically was profitable, with revenue of approximately $12 million in its last year of operation. To date Rennova has invested approximately $5 million in this project. Already patient visits are exceeding our expectations. We are looking to expand our hospital operations with the possible acquisition of other similar rural healthcare facilities and physician practices in adjacent areas.

Click here to read the full press release.

Source: www.marketwired.com

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