Rennova cancels deal to create telehealth company

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Rennova Health terminated discussions with TPT Global Tech March 5 to merge Rennova's software and genetic testing divisions and form a company that would provide telehealth services. 

The West Palm Beach, Fla.-based healthcare services provider, which also owns and operates rural hospitals, had been working with TPT Global Tech since last June to merge their companies into InnovaQor, which would have been a telehealth platform that combines telemedicine with EHR capabilities. 

Rennova and TPT Global Tech on Jan. 7 said they completed an agreement to create the telehealth company but ultimately could not reach final terms on numerous closing items, according to the March 8 news release. 

Both organizations will continue independently with their own business plans; Rennova is immediately pursuing other options, including filing with the SEC to complete the separation of its software division, as planned, to its shareholders. The company still plans to develop a telehealth platform for providers and patients. 

 

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