Health software manufacturer invests in biomedical testing

Rennova Health, a health software manufacturer, has acquired Hartford Healthcare’s share in a Genomas, a biomedical testing provider for $250,000.

In March 2016, Rennova Health previously claimed that it would join with Genomas to introduce a series of pharmacogenetics tests that are used through an FDA-approved in vitro diagnostic (IVD) genotyping kit, manufactured by Genomas and employed in Genomas’ laboratory.

Alongside this agreement, Rennova has renewed and extended Genomas’ existing laboratory lease agreement with Hartford Hospital.

“This transaction further solidifies the diversification of our core diagnostics business to combine modern science and technology to deliver precision to practitioners that enables them to provide better treatment to their patients,” said Seamus Lagan, chief executive officer of Rennova Health.

“By assuming Hartford Healthcare’s ownership in and liabilities from Genomas, we significantly strengthen our existing relationship with Genomas and expect to accelerate our provision of diagnostics for DNA-guided management and prescription of drugs, so that physicians may select the safest a more effective drug to achieve treatment goals and enhance patient compliance."

Lagan added: “This will also help to reduce healthcare costs. We expect additional benefit from this relationship by offering our current Rennova products and services to Genomas’ customers.”