Rennova announces agreement to buy Jellico hospital
On Monday, Rennova Health announced its agreement to buy Jellico Community Hospital.
According to a press release from the company, the agreement included the hospital and its assets. The transaction is expected to close in the first quarter of 2019.
“This third hospital is situated near our Oneida and Jamestown based hospitals and further expands our footprint in the rural hospital sector in keeping with our business strategy,” said Seamus Lagan, CEO of Rennova. “We believe having a number of hospitals in the same geographic location creates a number of synergies and efficiencies and we look forward to this acquisition adding to revenue and value in the first quarter of 2019.”