$RNVA$$ NEWS
CARES Act
The Company is providing the following update on receipt of Provider Relief Funds from the United States Department of Health and Human Services (“HHS”) provided to eligible healthcare providers out of the $100 billion Public Health and Social Services Emergency Fund provided for in the Coronavirus Aid, Relief, and Economic Security Act. The funds are allocated to eligible healthcare providers for expenses and lost revenue attributable to the COVID-19 pandemic. The funds are being released in tranches, and HHS partnered with UnitedHealth Group to distribute the initial $30 billion in funds by direct deposit to providers. To date, Company-owned facilities have received approximately $7,400,000 in relief funds. It is not known if or when Company-owned facilities will receive any additional funding, although rural providers are named as a segment of specific providers that will receive additional relief from funds which have not been distributed to date. The fund payments are grants, not loans, and HHS will not require repayment, but providers are restricted and the funds must be used only for grant approved purposes
