July 20, 2016

Rennova Health acquires Hartford HealthCare's interest in Genomas

A Florida-based health software maker said it has acquired Hartford HealthCare's stake in a Genomas, a biomedical testing provider, for $250,000.

Rennova Health Inc. said it paid cash for the intellectual property, preferred stock and promissory notes. Genomas will continue to operate from a leased laboratory at Hartford Hospital, it said.

Genomas is led by Dr. Gualberto Ruano, who also leads Hartford Hospital's Genetics Research Center. Genomas conducts genetics-based testing for personalized prescription of drugs used to treat mental illness, diabetes and cardiovascular disease.

Rennova first partnered with Genomas in March to launch a series of medical tests.

Rennova CEO Seamus Lagan said in a statement that the deal with Hartford HealthCare significantly strengthens the fledgling relationship and will help accelerate the development of diagnostics.

"This will also help to reduce healthcare costs," Lagan said. "We expect additional benefit from this relationship by offering our current Rennova products and services to Genomas customers."

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