ONEIDA, Tenn. (WATE) – Rennova Health announced they closed on the sale of the Scott County Community Hospital in Oneida.
Rennova said it aims to open the hospital in the second quarter of 2017 and have it fully up and running by the third quarter. The hospital has a number of licenses that need to be reinstated.
The hospital was purchased in bankruptcy for approximately one million dollars, which includes $400,000 owed to a bank that had a lien on the property.
“This acquisition is further demonstration of Rennova’s efforts to grow our business in a direction that will secure more predictable, recurring revenue for the provision of health care services and our state of the art solutions,” said Seamus Lagan, CEO of Rennova. “A Rural Critical Access Hospital creates certain opportunities for Rennova to leverage its existing knowledge and services for the benefit of the hospital and surrounding physicians. We have hired specific expertise to oversee this project and believe we can reinstate the majority of the team from the local community that previously operated the hospital successfully. We look forward to proving and expanding this rural hospital model in the coming years.”
The hospital closed in July 2016 after its previous owner, Pioneer, declared bankruptcy. Pioneer had bought the hospital after it closed in 2012.