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Wednesday, February 19, 2020 7:11:28 PM
The monies required to partner and get all 3 hospitals up and running within this improved rural health climate which would avoid a long BK bidding process may seem very attractive to some of the bigger healthcare firms or those you know already insinuate are sniffing around. Mergers are happening all over rural America right now for better or worse. A quick google search will show how common this is right now.
Other points:
1. Healthcare BK's which contain diverse assets are very complex with various conditions to even begin to consider operating the assets prior to the full proceeding coming to a close. A BK process really does little to help residents, politicians, and company near term as they all want and still requires a lengthy bidding process.
2. As you stated there is 'competition' you believe is capable of operating these facilities. There has also been a soft gestured offer a few months back. Safe to say there is interest. Im not sure they would be seen as good faith partners to the company trying to do the all hard work right now. None the less there is clear interest
3. The changes to CMS and Fed grants combined with the level of integration Rennova has achieved to get these previously unwanted hospital has likely created even greater interest.
4.Contrary to the 'inevitable' BK some spew here. Its actually very unlikely Rennova ever intends to file BK for reasons I already detailed.And clearly they are not out of options to fulfill their plan.
http://exclusive.multibriefs.com/content/healthcare-mergers-and-acquisitions-navigating-the-landscape/communications
https://www.gosanangelo.com/story/news/2020/01/23/changes-texas-law-clear-path-hospital-mergers-across-state-shannon-community-health-hendricks-abilen/2738257001/
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