VisualMED Clinical Solutions Corp. completed the acquisition of Health Technology Solutions, Inc. and Advanced Molecular Services Group, Inc. from Rennova Health, Inc.
June 25, 2021
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VisualMED Clinical Solutions Corp. (OTCPK:VMCS) entered into an agreement to acquire Health Technology Solutions, Inc. and Advanced Molecular Services Group, Inc. from Rennova Health, Inc. on May 12, 2021. Once the agreement has closed VisualMed intends to complete a name change and these entities will operate as wholly owned subsidiaries of VisualMED. As part of the agreement VisualMED is required to complete any outstanding filings necessary to be fully compliant with OTC reporting requirements before closing and the closing is subject to a number of customary conditions for a transaction of this nature and is intended to happen on or before May 31, 2020.
VisualMED Clinical Solutions Corp. (OTCPK:VMCS) completed the acquisition of Health Technology Solutions, Inc. and Advanced Molecular Services Group, Inc. from Rennova Health, Inc. on June 25, 2021. As of July 1, 2021, VisualMED Clinical Solutions Corp. issued 0.014 million shares of Series B Non-Voting Convertible Preferred Stock. The number of shares of Series B Preferred Stock will be subject to a post-closing adjustment which resulted in 950 additional shares of Series B Preferred Stock due Rennova which were issued in September 2021. For the year ended December 31, 2020, Health Technology Solutions, Inc. and Advanced Molecular Services Group, Inc. reported combined net revenues of $528,624, net loss of $606,451, and total assets of $185,059. The transaction was subject to regulatory and shareholder approvals, execution of consulting agreement, and financial audit of the targets. J. Thomas Cookson of Shutts & Bowen LLP acted as legal advisor to Rennova Health, Inc.
InnovaQor, Inc. is engaged in providing information technology solutions and services to healthcare and laboratory customers in the United States. The Companyâs services include HTS vCIO, HTS Qira, Medical Mime, ClinLab and MEDtuning. Its HTS vCIO services include consulting and strategic alignment, software and hardware implementation and management, vendor management, risk analysis and risk management and cybersecurity and proactive security monitoring. Its HTS Qira services include intelligible design, incisive analysis and accessible platform. Its Medical Mime provides patient lifecycle management for Behavioral Health/Substance Abuse (BH/SA) treatment centers through its robust, efficient electronic medical records (EMR) purpose-built software. Its ClinLab is a Windows-based, Internet and web-enabled laboratory information management system. Its MEDtuning services deliver personalized medicine to modern clinical practices.
VisualMED Clinical Solutions Corp. completed the acquisition of Health Technology Solutions, Inc. and Advanced Molecular Services Group, Inc. from Rennova Health, Inc.