Rennova Health Company announced Monday it has agreed to buy Jellico Community Hospital.
It comes after rumors had circulated for months that the hospital would close.
The company said it has entered into a "definitive asset purchase agreement" to buy the hospital.
Rennova already owns two other East Tennessee hospitals: Big South Fork Medical Center in Oneida and Jamestown Regional Medical Center.
“This third hospital is situated near our Oneida and Jamestown based hospitals and further expands our footprint in the rural hospital sector in keeping with our business strategy,” said Seamus Lagan, CEO of Rennova. “We believe having a number of hospitals in the same geographic location creates a number of synergies and efficiencies and we look forward to this acquisition adding to revenue and value in the first quarter of 2019.”
Jellico Community Hospital is a fully operational 54-bed acute care facility that offers comprehensive services, including diagnostic imaging, radiology, surgery (general, gynecological and vascular), nuclear medicine, wound care and hyperbaric medicine, intensive care, emergency care, and physical therapy.
Beginning Dec. 9, the hospital said it will no longer offer OB services.
Jellico Community Hospital is accredited by the Center for Improvement in Healthcare Quality and the lab within the hospital is accredited by the Joint Commission and is committed to high standards of excellence.
In 2015, Jellico Community Hospital was one of 251 hospitals out of 3,500 across the country to receive a “5-star” rating for patient satisfaction, according to a Hospital Consumer Assessment of Healthcare Provider and Systems survey conducted by the Centers for Medicare & Medicaid Services.