Rennova Health

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.

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

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

• Rural hospital services
• Critical access hospital
• Behavioral health recovery
• Diagnostic imaging services
• Healthcare technology solutions

Headquarters

HQ city

West Palm Beach

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core 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

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Broad 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

• Xx.com/RennovaHealth
• YouTubeyoutube.com/channel/UCRB12o82bUllf6EuiDXsdoA
• Facebookfacebook.com/RennovaHealth
• LinkedInlinkedin.com/company/rennova-health

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rennova Health