A financially devastated hospital company appears to have been bailed out yet again by its single largest investor. A July 8 SEC filing by the South Florida-based Rennova says Christopher Diamantis will take a controlling stake of the company in exchange for forgiving the more than $18 million it owes him. Diamantis previously served on the board of directors of the company, which operates the Big South Fork Regional Medical Center in Oneida and the Jellico Community Hospital in Campbell County. In a financial filing two weeks ago, the company laid out its dire financial situation: it owed creditors $49 million and spent $2 for each $1 it makes.
Read the full article: Mystery Millionaire Investor Takes Control of Failing East TN Hospital Chain //
Source: https://www.wbir.com/article/news/investigations/mystery-millionaire-investor-takes-control-of-struggling-east-tn-hospital-chain/51-442bbac9-f74f-4191-a879-f3afb99c3c92