May 26, 2017 6:16 AM ET

Health Care Technology

Company Overview of Rennova Health, Inc.

Company Overview

Rennova Health, Inc., together with its subsidiaries, provides a suite of healthcare related products and services to healthcare providers in the United States. The company operates in three segments: Laboratory Services, Supportive Software Solutions, and Decision Support and Informatics Operations. It provides toxicology, clinical pharmacogenetics, and esoteric testing services. The company also offers Advantage, a HIPAA compliant software; Clinlab, a Windows-based Web-enabled laboratory information management system; and Medical Mime, a suite of solutions, which include an optimized Electronic health records (EHR) for substance abuse and behavioral health providers, a dictation-based ambu...

400 South Australian Avenue

8th Floor

West Palm Beach, FL 33401

United States

Founded in 2005

94 Employees

Phone:

561-855-1626

Key Executives for Rennova Health, Inc.

Chief Executive Officer, President, Interim Chief Financial Officer and Director
Age: 47
Total Annual Compensation: $200.0K
Compensation as of Fiscal Year 2016.

Rennova Health, Inc. Key Developments

Rennova Health, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2017

Rennova Health, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2017. Net revenues for the first quarter of 2017 were $1.2 million, compared with $1.9 million for the first quarter of 2016. The decrease is mainly the result of a 64% decline in insured test volumes in the company's Clinical Laboratory Operations business segment. The company's loss from operations for the first quarter of 2017 was $4.6 million, compared with $6.8 million for the first quarter of 2016. The narrowing of operating loss was mainly due to expense reductions, partially offset by lower net revenues. Net loss attributable to common stockholders for the first quarter of 2017 was $49.7 million, or $10.15 per share, compared with net loss attributable to common stockholders for the first quarter of 2016 of $4.2 million, or $8.59 per share. The increase was largely attributed to interest expense of $45.6 million, which includes a $44.1 million non-cash interest charge mainly related to the issuance of convertible debentures and warrants during the period and an additional $0.9 million for the amortization of debt discount and deferred financing costs, compared with $1.0 million in interest expense in the prior-year's first quarter. Loss before income taxes was $49,701,457 against $4,244,011 a year ago.

Rennova Health, Inc. announced delayed 10-Q filing

On 05/16/2017, Rennova Health, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Rennova Considers Options For Creating Shareholder Value

Rennova Health, Inc. (NasdaqCM:RNVA) is considering multiple strategic alternatives. Rennova's board is considering all options to create shareholder value, and subject to required consents and approvals may spin off the Group to its stockholders.

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