Former CHS hospital boosts Rennova's revenue

West Palm Beach, Fla.-based Rennova Health's revenue increased in the second quarter of 2018 after the company acquired its second rural hospital.

Rennova, a clinical laboratory and hospital operator, reported revenue of $3.3 million in the second quarter of this year, up from $74,565 in the same period a year earlier. The increase was primarily attributable to revenue from Jamestown (Tenn.) Regional Medical Center and Big South Fork Medical Center in Oneida, Tenn.

Rennova acquired Jamestown Regional Medical Center from Franklin, Tenn.-based Community Health Systems June 1. The company began operating Big South Fork Medical Center in August 2017.

The increase in revenue from Rennova's hospital operations was offset by a decrease in clinical lab operations revenue, which declined $700,000 year over year in the second quarter of this year.

The company ended the second quarter of 2018 with net income of $45.3 million, compared to a net loss of $10.7 million in the same period a year earlier.

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