Rennova Health has emerged as a new entity following the combination of Medytox Solutions, Inc., a clinical healthcare corporation owning five labs nationwide, with oncology solutions provider CollabRx, Inc., Monday in West Palm Beach, Florida.
The merger furthers Medytox’s goal to become a global diagnostics company as it strategically formats a continuum of products and services designed to become more customer-attuned and stay ahead of ever-changing technological advances.
“We’re building a new kind of diagnostics company -- one that moves away from the concept of impersonal mega-labs,” Seamus Lagan, CEO of Rennova Health, said. “From CollabRx’ complex genetic sequencing reports that give cancer patients and their physicians personalized, therapeutic information, to simple-to-use tests that can be administered in the privacy of your home, we are changing the way health information is obtained and processed.”
In addition to diagnostics, Rennova will also focus on electronic health records, revenue cycle management and medical receivables financing.
Medytox received praise from Florida Gov. Rick Scott for creating senior level jobs; the venture ballooned from just a handful of workers in 2011 to over 300 in 2015. Also in 2015, Medytox launched a large, innovative South Florida reference lab called EPIC. CollabRx, a clinical decision-support company, is based in California.
“By addressing the real-world needs of providers with a range of information technology-based solutions and diagnostic capabilities into a single company, we can return more value to our shareholders and better serve our customers,” Thomas Mika, chairman of the Rennova Health board and CEO of CollabRx, said. “Our innovation-driven solutions are now better positioned than ever to achieve standardized, evidence-based care and superior clinical outcomes.”