Rennova Health Inc (RNVA)

[Ferdenando the Bull]

Rennova Denies Presley’s $1 Million Bid For JRMC
Posted by: Logan Weaver Wednesday, August 14, 2019

Rennova Health Systems has denied a $1 million bid to purchase Jamestown Regional Medical Center.

Crossville clinician and physician assistant Johnny Presley made the offer to Rennova and hospital CEO Michael Alexander earlier this summer.

Fentress County Executive Jimmy Johnson said Rennova’s decision comes at no surprise.

“Rennova and Mr. Seamus Lagan, they’re kind of dug in and I don’t know why,” Johnson said. “Mr. Presley actually offered them in a verbal offer of $750,000… but Mr. Seamus said he hadn’t had a written request, so he got a written request offer. Maybe a couple weeks ago, we were in on a meeting with him and he actually offered in a written request up to $1 million.”

Presley hasn’t been the only one interested in purchasing JRMC. Johnson said another unidentified entity also made an offer to Rennova in order to acquire the Jamestown hospital.

“I know about a week later another party offered $1.5 [million] verbally to Mr. Michael Alexander,” Johnson said. “[Alexander] said he would pass the word along to Mr. Seamus. Nothing has ever come out of that, but as far as I know they’re holding on so that’s where we’re at on that.”

Presley said last week he had tried purchasing JRMC prior to acquiring Cumberland River Hospital in Celina for $200,000 from Cookeville Regional Medical Center.

JRMC has remained closed for the last two months after being terminated from Medicare and Medicaid services.

https://newstalk941.com/rennova-denies-presleys-1-million-bid-for-jrmc/

In a follow-up story, Rennova Health Systems has reportedly denied a $1 million bid to purchase Jamestown Regional Medical Center. Johnny Presley, who owns Rural Hospital & Clinics of America, LLC in Crossville, made the offer. Presley said he was trying for the purchase of the facility in Jamestown prior to acquiring Cumberland River Hospital in Celina for $200,000 from Cookeville Regional Medical Center. Jamestown Regional Medical Center has been closed for two months after Medicaid and Medicare officials stopped their services to the hospital.

http://1057news.com/2019/08/14/10/11/35/rennova-rejects-presleys-offer-to-buy-jamestown-hospital/

Presley also made written offers to buy the shuttered hospital in nearby Jamestown, which the Florida-based owners have rebuffed. He now threatens to open his own emergency room in the town of 2,000 people.

https://www.nashvillepublicradio.org/post/crossville-clinician-snaps-shuttered-celina-hospital-may-buy-others-rural-tennessee#stream/0