Rennova Health Inc (RNVA)

[Backstabbed]

$RNVA - RENNOVA COMPLETES AGREEMENT TO SEPARATE ITS SOFTWARE AND GENETIC DIAGNOSTICS INTERPRETATION DIVISIONS INTO VISUALMED CLINICAL SOLUTIONS CORP.

https://www.otcmarkets.com/stock/RNVA/news/story?e&id=1898485

WEST PALM BEACH, Fla., May 17, 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 May 13, it completed an 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. After closing these entities will operate as wholly owned subsidiaries of VisualMED. Closing is subject to a number of customary conditions for a transaction of this nature and is intended to happen on or before May 31 2020.

As part of the agreement VisualMED will complete any outstanding filings necessary to be fully compliant with OTC reporting requirements before closing. Once the agreement has closed the Company intends to file audited financial statements and other filings as required to become fully reporting with the SEC.

“Rennova has previously disclosed its intention to separate its technology and software divisions and looks forward to the completion of this plan in the coming weeks,” said Seamus Lagan, CEO of Rennova Health. “Our software division has a vision and plan to create innovative and relevant software and technology solutions to service and improve operations for the health care industry. That vision is best served in a separate entity to facilitate focus and value.”