Rennova Health Inc (RNVA)

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In closing the Jamestown deal on Friday, Rennova said that it expects revenues of about $15 million from that facility.
Rennova CEO Seamus Lagan said told Uptick Newswire’s “Stock Day” podcast last month that the purchase of the Jamestown hospital is key for the company’s future plans.
“Completing this acquisition which includes ownership of a nearby physicians practice and properly integrating and managing them to being cash flow positive and profitable is a key first step,” Lagan said. “If we can do that in the next three to six months and get to where we don’t need additional capital to cover overheads, we can possibly exit 2018 looking for our next acquisition.”

In its statement on Tuesday, BSFMC reasserted its commitment to the community.

“We are happy to repeat that Rennova Health and Big South Fork Medical Center are committed to the citizens of the communities we serve for the long term and we look forward to sharing more positive actions with you in the coming months as we invest in and provide additional services from the hospital,” the hospital stated

Big South Fork Medical Center announced on Tuesday, June 5, it’s intent to lay off 20 employees as the hospital transitions out of its start-up phase.

The hospital did not indicate which positions would be cut as it moves forward, instead saying that it intends to “readjust its staffing levels in accordance with our current census.”

BSFMC, which is approaching its first anniversary in August, said in the statement that it had been over-staffed during its start-up phase.