West Palm Beach, Fla.-based Rennova Health entered a definitive agreement to acquire 54-bed Jellico (Tenn.) Community Hospital and an outpatient clinic in Williamsburg, Ky.
Jellico Community Hospital will be Rennova's third acute care hospital. The company already owns Big South Fork Medical Center in Oneida, Tenn., and Jamestown (Tenn.) Regional Medical Center.
"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," Seamus Lagan, CEO of Rennova, said in a press release. "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."
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