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Rennova Health completes acquisition of shuttered Tennessee hospital: 3 things to know

West Palm Beach, Fla.-based Rennova Health has completed its acquisition of Scott County Hospital in Oneida, Tenn., which closed July 1.

Here are three things to know about the deal.

1. Rennova acquired the hospital's assets out of bankruptcy for $600,000 in cash, plus the repayment of approximately $400,000 of debt secured by the foregoing land and buildings, according to a news release.

2. The 25-bed Scott County Hospital features a 24/7 emergency department, operating rooms and a laboratory that provides various ancillary diagnostic services. Rennova's purchase includes a 52,000 -square-foot hospital building and a 6,300-square-foot professional building, the release states.

3. Rennova said it expects to open the hospital, in part, in the second quarter of 2017 and for the hospital to be fully operational by the third quarter of 2017.


More articles on transactions and valuations:
MD Anderson, Deerfield Management form joint venture to develop targeted cancer treatment
Northwestern Memorial Hospital, Sectra partner to improve breast healthcare
Lovelace Health System to partner with UNM medical group

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