RENNOVA IS PLEASED TO REPORT IT HAS CLOSED THE AGREEMENT TO SEPARATE ITS SOFTWARE AND GENETIC DIAGNOSTICS INTERPRETATION DIVISIONS INTO VISUALMED CLINICAL SOLUTIONS CORP. https://apnews.com/press-release/globe-newswire/software-health-technology-cda050d014a0f3a895d2271cd3c5d39f
WEST PALM BEACH, Fla., June 28, 2021 (GLOBE NEWSWIRE) -- Rennova Health, Inc. (OTC: RNVA), (OTC: RNVAW) (“Rennova” or the “Company”), an owner and operator of rural hospitals in Tennessee, is please to confirm it has closed the agreement with VisualMED Clinical Solutions Corp. (VisualMED) a Nevada based public company, to merge its software and genetic testing interpretation divisions, Health Technology Solutions, Inc. (HTS) and Advanced Molecular Services Group, Inc., (AMSG) and their subsidiaries into VisualMED. These entities will operate as wholly owned subsidiaries of VisualMED which will immediately take the steps required to complete a name and trading symbol change.
VisualMED intends to complete the required filings to become compliant with SEC reporting requirements to become a fully reporting company as soon as practical.
Rennova and VisualMed intend to take the necessary steps to comply with the relevant regulations and rules to permit Rennova to distribute shares in VisualMED to its shareholders at some time in the future.
“We are delighted to have closed this transaction,” said Seamus Lagan, CEO of Rennova.
“Our software division has an exciting vision and plan to use our current solutions to create an innovative and we believe unique software solution for the health care industry. We remain convinced that vision can be better delivered and create more value for Rennova shareholders as a separate public entity.”
MULTIPLE REVERSE SPLITS
New & Secondary Issue=10-95 4,100,000 shs at $12 by Merrill Lynch & Co. et al.
Capital Change=shs decreased by 1 for 12 split Pay date=07/25/2006.
Capital Change=shs decreased by 1 for 5 split Pay date=06/17/2011.
Capital Change=shs decreased by 1 for 10 split Ex-date=11/03/2015.
Capital Change=shs decreased by 1 for 30 split Ex-date=02/23/2017.
Note = Delisted from Nasdaq on 10-25-2017
Capital Change=shs decreased by 1 for 15 split Ex-date=10/06/2017.
Capital Change=shs decreased by 1 for 500 split Ex-date=11/13/2018. Pay date=11/13/2018.
Capital Change=shs decreased by 1 for 10000 split. Ex-date=08/03/2020. Pay date=08/03/2020.
SPINOFF MULTIPLE TIMES FAILED
RENNOVA COMPLETES AGREEMENT TO SEPARATE ITS OFTWARE AND GENETIC DIAGNOSTICS INTERPRETATION DIVISIONS INTO INNOVAQOR, INC. (OTC: INOQ)
WEST PALM BEACH, Fla., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Rennova Health, Inc. (OTC: RNVA), (OTC: RNVAW) (“Rennova” or the “Company”), an owner and operator of rural hospitals in Tennessee, announces that on December 31. 2020, it completed an agreement with InnovaQor, Inc. (OTC: INOQ) (InnovaQor) a CO based public company, to merge its software and genetic testing interpretation divisions, Health Technology Solutions, Inc. (HTS) and Advanced Molecular Services Group, Inc., (AMSG) and their subsidiaries into InnovaQor. After closing these entities will operate as wholly owned subsidiaries of InnovaQor. Closing is subject to a number of customary conditions for a transaction of this nature and is intended to happen on or before January 31. 2020.
InnovaQor has previously completed a license agreement giving it certain rights to assets and technology from TPT Global Tech, Inc’s. (OTC: TPTW) proprietary live streaming communication technology. As part of the License agreement InnovaQor and TPT have agreed a development project to create a next generation telehealth type platform. It is intended to combine the TPT and Rennova assets and technology into a smart phone and computer accessible healthcare platform to facilitate a patient’s immediate access to healthcare and their local hospital or doctors office, for initial consultation, scheduling of appointments and follow on care and other added value services that may be one off or recurring.
InnovaQor has agreed to complete the necessary steps and SEC filings with the intent to facilitate TPT shareholders receiving approximately 2,500,000 shares in InnovaQor, and Rennova Health, Inc. shareholders receiving approximately $5M of Preference shares which will be converted to common shares. As described in the agreement TPT will retain direct ownership of a further 2,500,000 shares and Rennova will retain ownership of an additional $17.5M of Preference shares with certain conversion rights and restrictions, in InnovaQor. An additional 1,000,000 shares in InnovaQor will be allocated to TPT or its’ assignees as an incentive to assist in product development.
“Rennova has previously disclosed its intention to separate its technology and software divisions. This agreement with InnovaQor finalizes these plans and the technology being contributed to the project by TPT creates an exciting opportunity to revolutionize the way patients access healthcare and continued aftercare”, said Seamus Lagan, CEO of Rennova Health “We see first-hand the need our rural hospitals have to secure and retain patients. The product envisaged here will create immense value for many health care providers and provide a permanent solution to the current and probably extended reluctance of many people in the current pandemic to visit doctors’ practices and hospitals for initial consultations. A phone based product that reduces a delay in access to healthcare and better manages ongoing care will save lives”
About Rennova Health, Inc.
Rennova operates three rural hospitals and a physician’s office in Tennessee and a physician’s office in Kentucky and provides industry-leading diagnostics and supportive software solutions to healthcare providers. Through an ever-expanding group of strategic brands that work in unison to empower customers, we are creating the next generation of healthcare. For more information, please visit www.rennovahealth.com
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Sebastien Sainsbury, 561-666-9818
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Source: Rennova Health, Inc.
Released January 6, 2021
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