A U.S. Securities & Exchange Commission filing from Rennova Health shows the company, which owns several East Tennessee hospitals, reported multi-million dollar losses and had almost no cash on hand at one point.
Rennova Health owns and operates Big South Fork Medical Center in Oneida, Jellico Medical Center and the recently-shuttered Jamestown Regional Medical Center.
Rennova Health’s SEC report for the 2018 fiscal year revealed the company reported incurred a $13.6 million loss from continuing operations in 2018, a working capital deficit of $39.3 million and a stockholders’ deficit of $39.2 million.
The report shows Rennova Health had just $7,000 cash on hand at the end of the 2018 fiscal year. “As of the date of this report, our cash position is deficient; and payments for our operations in the ordinary course are not being made.” the report reads.