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Rennova Health acquires assets of Scott County Hospital

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Rennova Health acquires assets of Scott County Hospital

Rennova Health Inc. will acquire certain assets related to Oneida, Tenn.-based Scott County Hospital.

The company acquired the assets out of bankruptcy for about $1 million, which includes $400,000 owed to a local bank that has a lien on the property. Closing of the purchase is expected to take place in early January 2017.

The hospital has certain licenses that need to be reinstated and is party to a number of in-network contracts with payers.

Subject to obtaining requisite government and other approvals and licenses, Rennova believes the hospital will reopen in part in the second quarter of 2017 and is working toward having the hospital in full operation by the third quarter of 2017.