Rennova Health
Rennova Health is a publicly traded rural healthcare services provider operating one 25-bed Critical Access Hospital in Oneida, Tennessee, a behavioral health recovery center (Myrtle Recovery Centers), and a rural clinic in Kentucky, serving underserved communities in eastern Tennessee and Kentucky.
- Company typePublic
- Founded2015
- HeadquartersWest Palm Beach, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Rennova Health does
Rennova Health, Inc. is a publicly traded rural healthcare services provider headquartered in West Palm Beach, Florida (OTCQB: RNVA) that owns and operates a small portfolio of hospitals and clinics concentrated in eastern Tennessee and Kentucky. Its sole currently operating facility is Big South Fork Medical Center, a 25-bed Critical Access Hospital in Oneida, Tennessee, offering 24/7 emergency department services, diagnostic imaging including the county's only 64 Slice CT Scanner, screening mammograms, bone density testing, and clinical laboratory services. The company also retains rights to reopen two facilities that have been closed since June 2019 — Jamestown Regional Medical Center (85 beds) and Mountain View Physician Practice — and operates a rural clinic in Kentucky. A separate behavioral health subsidiary, Myrtle Recovery Centers, Inc. (formed in 2022, valued at $8 million under the Myrtle/RCHI Agreement), provides substance abuse, behavioral, and mental health recovery services.
The business model is healthcare service delivery billed through standard Medicare, Medicaid, commercial insurance, and self-pay arrangements under Critical Access Hospital reimbursement frameworks. Total revenue grew from $13.0 million in FY2022 to $18.7 million in FY2023, but the company reported a $7.73 million net loss for FY2023 and carried a stockholders' deficit of $36.8 million against $20.25 million of total assets and $57.1 million of total liabilities as of December 31, 2023. Capital structure is heavily diluted with 43+ billion common shares outstanding and has been actively restructured through preferred stock conversions and promissory note issuances. The company has no analyst coverage and has been subject to multiple disclosed legal settlements including a $7.3 million CIGNA Health judgment included in accrued expenses.
Corporate structure includes Rennova Community Health, Inc. (rural hospital and clinic operations, Knoxville, TN), Myrtle Recovery Centers, Inc. (behavioral health), and a minority investment in InnovaQor, Inc., the technology and software platform that was spun off in June 2021. In June 2024, the company announced stock exchange agreements with FOXO Technologies, Inc. transferring Myrtle Recovery Centers and Rennova Community Health in exchange for FOXO equity and a $1.6 million principal amount (including a $300,000 promissory note), representing the most significant recent corporate action. The current three-person board comprises CEO Seamus Lagan (in role since 2011), Director Gary L. Blum, and Director Trevor Langley.
Rennova Health firmographics
Firmographics- Name
- Rennova Health
- Legal name
- RENNOVA HEALTH, INC.
- Website
- https://rennovahealth.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Rennova Health is a publicly traded rural healthcare services provider operating one 25-bed Critical Access Hospital in Oneida, Tennessee, a behavioral health recovery center (Myrtle Recovery Centers), and a rural clinic in Kentucky, serving underserved communities in eastern Tennessee and Kentucky.
- Ownership category
- akta.pro rank
Rennova Health industry classification
Industry- Product category
- Rural Hospital and Healthcare Services
- NAICS
- Residential Mental Health and Substance Abuse Facilities (623220), Ambulatory Health Care Services (621)
- SIC
- Services-General Medical & Surgical Hospitals, Nec (8062), Services-Skilled Nursing Care Facilities (8051)
- akta.pro primary industry
- Critical Access & Rural Hospitals (HLAFAAAG)
- akta.pro secondary industries
- Community & Regional General Hospitals (HLAFAAAB), Post-Acute Transitional Care / Subacute Rehab Centers (HLADAJAN)
Keywords
Where Rennova Health is headquartered
LocationHeadquarters
- HQ city
- West Palm Beach
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Rennova Health business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Hospital and Clinic Healthcare Services: Revenue generated from operating hospitals and clinics providing 24/7 healthcare services to rural communities, including emergency departments, diagnostic imaging, clinical laboratory services, and inpatient/outpatient care. Total revenue of $18.69 million for FY2023.
- Behavioral Health Recovery Center Services: Revenue from Myrtle Recovery Centers offering therapeutic treatments for behavioral health concerns including substance abuse, behavioral, and mental health challenges.
- Technology and Software Solutions: Investment revenue from InnovaQor, Inc., the separated technology and software division that Rennova remains a significant investor in. Provides healthcare technology solutions to industry.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Hospital and clinic services |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels8 records
Rennova Health product offering
Product offeringCore offering
Rennova Health operates rural hospitals and clinics providing 24/7 emergency, diagnostic imaging, clinical laboratory, and inpatient/outpatient healthcare services to underserved communities in eastern Tennessee and Kentucky. Its flagship is Big South Fork Medical Center, a 25-bed Critical Access Hospital in Oneida, Tennessee. The company also offers behavioral health recovery services through Myrtle Recovery Centers for individuals with substance abuse, behavioral, and mental health challenges. The company retains a minority investment in InnovaQor, a separated technology and software division providing healthcare technology solutions.
Product overview
Rennova Health, Inc. is a provider of healthcare services operating a portfolio of hospitals and clinics in eastern Tennessee and Kentucky. The company operates through multiple divisions: Rennova Community Health manages rural hospitals (Big South Fork Medical Center, Jamestown Regional Medical Center, Mountain View Physician Practice), Myrtle Recovery Centers provides behavioral health services, and the company retains a significant investment in InnovaQor for technology and software solutions. The company provides 24/7 healthcare services to local communities with a focus on rural healthcare.
Differentiator
Problem solved
Functional benefit
Brands
- Big South Fork Medical Center: 25-bed Critical Access hospital in Oneida, Tennessee offering 24/7 Emergency Department Services, Diagnostic Imaging, Mammograms, Bone Density Testing, and Clinical Laboratory Services.
- Jamestown Regional Medical Center
- Myrtle Recovery Centers
- InnovaQor
Products and services
- Big South Fork Medical Center A 25-bed Critical Access Hospital located in Oneida, Tennessee providing 24/7 Emergency Department Services, Diagnostic Imaging (including the county's only 64 Slice CT Scanner), Screening Mammograms, Bone Density Testing, and Clinical Laboratory Services to rural communities in eastern Tennessee.
- Myrtle Recovery Centers Behavioral Health Recovery Center offering innovative therapeutic treatments for individuals with substance, behavioral, and mental health challenges, incorporating Tennessee values and a welcoming atmosphere to provide compassionate and comprehensive care.
- Rennova Community Health Subsidiary operating company formed to own and manage rural hospital and clinic businesses in eastern Tennessee, overseeing the operations of Big South Fork Medical Center, Jamestown Regional Medical Center, Mountain View Physician Practice, and the Kentucky rural clinic.
Quantifiable outcome
- 24/7 emergency services available to rural communities
- +2 more outcomes
Companies that use Rennova Health
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Rennova Health technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Rennova Health partnerships and signals
Strategic signalScale indicators8 records
Recent moves9 records
Expansion highlights5 records
Rennova Health competitors and assessment
Company assessmentBroad incumbents
- Universal Health Services: Operates acute care hospitals and behavioral health facilities across the U.S. The behavioral health segment is directly comparable to Myrtle Recovery Centers, while the acute care segment overlaps with Rennova's hospital operations.
- HCA Healthcare: Largest for-profit hospital operator in the U.S. Operates community hospitals in markets similar to Rennova's, though at much greater scale. Provides a useful benchmark for hospital operating models and rural market dynamics.
- Tenet Healthcare: Major hospital operator with both acute care hospitals and outpatient services. Comparable in the breadth of service offerings to Rennova's integrated model, though at significantly greater scale and with more diverse geographic reach.
Direct peers
- Quorum Health Corporation: Operates a portfolio of rural and community hospitals across non-urban America, similar in scale and geographic focus to Rennova's hospital operations in eastern Tennessee. Both face comparable challenges operating in underserved markets with similar payer mix dynamics.
- Acadia Healthcare: Operates a network of behavioral healthcare facilities including substance abuse treatment centers, directly comparable to Rennova's Myrtle Recovery Centers. Similar service model targeting mental health and addiction recovery in dedicated facilities.
- Steward Health Care: Operates community hospitals across multiple states with a focus on serving rural and underserved communities. Operationally similar to Rennova's rural hospital model with comparable service offerings and patient populations.
- LifePoint Health: Private operator of community, rural, and non-urban acute care hospitals across the United States. Directly comparable to Rennova as both focus on operating acute care hospitals in non-urban markets with similar Critical Access Hospital considerations and patient demographics.
- Ardent Health Partners: Operates acute care hospitals and related healthcare services. Comparable to Rennova in operating a portfolio of community hospitals with similar patient demographics, service offerings, and operating model considerations.
Regional players
- Select Medical Holdings: Operates specialty hospitals, outpatient rehabilitation clinics, and occupational health centers. Comparable to the outpatient and rehabilitation aspects of Rennova's service offerings within the rural hospital context.
- Encompass Health: Operates inpatient rehabilitation and post-acute care facilities. Comparable to the post-acute and rehabilitation components of Critical Access Hospital operations and provides a benchmark for rural post-acute care economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights5 records
Customer concentration
Rennova Health social profiles
Digital presenceRennova Health financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rennova Health leadership team
Management profileNumber of profiles
Profiles3 records
Rennova Health subsidiaries and ownership
Company hierarchySubsidiaries3 records
Rennova Health funding detail
Funding detailFunding overview
Funding rounds5 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rennova Health M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rennova Health
What does Rennova Health do?
Rennova Health operates rural hospitals and clinics providing 24/7 emergency, diagnostic imaging, clinical laboratory, and inpatient/outpatient healthcare services to underserved communities in eastern Tennessee and Kentucky. Its flagship is Big South Fork Medical Center, a 25-bed Critical Access Hospital in Oneida, Tennessee. The company also offers behavioral health recovery services through Myrtle Recovery Centers for individuals with substance abuse, behavioral, and mental health challenges. The company retains a minority investment in InnovaQor, a separated technology and software division providing healthcare technology solutions.
Is Rennova Health a public or private company?
Rennova Health is a public company. It is classified as public and is currently operating.
When was Rennova Health founded?
Rennova Health was founded in 2015. It employs 101 to 250 people.
Where is Rennova Health based?
Rennova Health is headquartered in West Palm Beach, United States, in the North America region.
How does Rennova Health make money?
Three revenue lines are on record. Hospital and Clinic Healthcare Services are the primary driver. The others are behavioral Health Recovery Center Services and technology and Software Solutions.
Who are Rennova Health's main competitors?
Broad incumbents on record are Universal Health Services, HCA Healthcare and Tenet Healthcare. Direct peers are Quorum Health Corporation, Acadia Healthcare, Steward Health Care, LifePoint Health and Ardent Health Partners. Regional players are Select Medical Holdings and Encompass Health.
Does Rennova Health have an API?
No public API is recorded for Rennova Health.
What industry is Rennova Health in?
Rennova Health's product category is Rural Hospital and Healthcare Services. Its primary akta.pro industry code is HLAFAAAG, Critical Access & Rural Hospitals, with a secondary code of HLAFAAAB, Community & Regional General Hospitals. Its NAICS code is 623220 and its SIC code is 8062.