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Business Upturn
18-07-2025
- Business
- Business Upturn
FOXO TECHNOLOGIES INC. ANNOUNCES INTENTION TO SPIN OFF EPIGENETICS SUBSIDIARY
WEST PALM BEACH, FLORIDA, July 18, 2025 (GLOBE NEWSWIRE) — FOXO Technologies Inc. (NYSE American: FOXO) ('FOXO' or the 'Company'), today announced that its Board of Directors has approved pursuing the spin-off of its FOXO Labs, Inc. subsidiary that is focused on the development of its epigenetics business Our Epigenetics subsidiary has been serving as a pioneer in the development and integration of epigenetic biomarkers into state-of-the-art underwriting protocols and consumer engagement tools and owns Patent No. 11,817,214 titled 'Machine Learning Model Trained to Determine a Biochemical State and/or Medical Condition Using DNA Epigenetic Data. Epigenetic technology has been proven to provide health, lifestyle, and longevity insights that have never before been accessible to humans—from just a single saliva sample. Using saliva-based epigenetic biomarkers, we're eliminating the need for invasive blood and urine collection, allowing us to provide scientists with advanced epigenetic testing services and bioinformatics tools that support ground-breaking research. 'We are creating the ultimate health, fitness, and longevity coach leveraging our cutting-edge patented epigenetic analysis and a new proprietary AI model to deliver a deeply personalized coaching experience. Our AI coach first utilizes existing wellness data from wearable's to offer hyper personalized foundational lifestyle guidance. Then, through unlocking deeper epigenetic analyses, we take a web of complex biological data and simplify it into an easily actionable plan to completely transform people's journeys in health and wellness', said Mark White, Chief Executive Officer of FOXO Labs, Inc. 'We believe spinning this business off creates the best opportunity to deliver our business strategy and create value for FOXO and its shareholders.' 'We believe FOXO Labs, Inc., is an exciting opportunity to build a subscription-based revenue model for personal health and longevity,' said Seamus Lagan, Chief Executive Officer of FOXO Technologies, Inc. 'We believe a spin off whereby FOXO shareholders benefit from directly owning FOXO Labs, Inc. and by FOXO Technologies, Inc., retaining some ownership in the spun off Company, is a strategy that facilitates a simplified business model for each entity. We look forward to delivering this spin off as soon as practical.' About FOXO Technologies Inc. ('FOXO') FOXO owns and operates three subsidiaries. Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center), a critical access designated (CAH) hospital located in East Tennessee. Myrtle Recovery Centers, Inc., a 30-bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs. FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries. For more information about FOXO, visit This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended ('Securities Act'). This announcement is being issued in accordance with Rule 135 under the Securities Act. Forward-Looking Statements This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the FOXO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in operating performance across competitors or changes in laws and regulations affecting FOXO's businesses; the ability to implement FOXO's business plans, forecasts, and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; the enforceability of FOXO's intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and the risk of downturns and a changing regulatory landscape in the highly competitive markets or industries in which FOXO operates. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO's most recent reports on Forms 10-K and 10-Q, particularly the 'Risk Factors' sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Contact: Sebastien Sainsbury [email protected] (561) 485-0151 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
17-06-2025
- Business
- Yahoo
FOXO TECHNOLOGIES INC.'S CRITICAL ACCESS HOSPITAL ANNOUNCES NEW WOUND CARE SERVICES OFFERING
WEST PALM BEACH, FLORIDA, June 17, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) ('FOXO' or the 'Company') today announced that its critical access hospital, Big South Fork Medical Center located in Oneida, Tennessee, has commenced offering wound care services to patients both on an inpatient and outpatient basis. The hospital has experienced a growing demand for wound care services in its market service area, particularly for diabetic patients who have wounds often characterized by excessive inflammation and reduced angiogenesis and have a higher risk for postoperative wound healing complications. 'We are pleased that our critical access hospital in rural, East Tennessee is expanding its services that will, in turn, increase net revenues and we are working closely with hospital leadership to further expand our market reach which may include other, needed service offerings at our Oneida campus or other locations in the region,' stated Seamus Lagan, Chief Executive Officer of parent company, FOXO Technologies Inc. About FOXO Technologies Inc. ('FOXO') FOXO owns and operates three subsidiaries. Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center), a critical access designated (CAH) hospital in East Tennessee. Myrtle Recovery Centers, Inc., a 30-bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs. FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries. For more information about FOXO, visit Forward-Looking Statements This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the FOXO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in operating performance across competitors or changes in laws and regulations affecting FOXO's business; the ability to implement FOXO's business plans, forecasts, and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; potential inability of FOXO to establish or maintain relationships required to advance its goals or to achieve its commercialization and development plans; the enforceability of FOXO's intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry or in the markets or industries in which FOXO operates. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO's most recent reports on Forms 10-K and 10-Q, particularly the 'Risk Factors' sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Contact: Sebastien Sainsburyssainsbury@ (561) 485-0151
Yahoo
06-05-2025
- Business
- Yahoo
FOXO TECHNOLOGIES INC.'S BEHAVIORAL HEALTH SUBSIDIARY REACHES KEY OPERATIONAL MILESTONES
FOXO Technologies Inc. WEST PALM BEACH, FLORIDA, May 06, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) ('FOXO' or the 'Company') today announced that its behavioral health subsidiary, Myrtle Recovery Centers, Inc., has reached key patient care milestones. Since operations commenced at its Oneida, Tennessee location in August 2023, the facility has seen over 400 patients and has served patients for over 5,000 care days. Robert Merritt, Chief of Executive Officer of Myrtle stated, 'We are excited about reaching these important patient care milestones as they are indicative of the strong presence and reputation our facility has for delivering exemplary care for substance use disorder patients in East Tennessee. We continue to increase our referral sources and believe we will have served 10,000 patient care days by year end 2025 since inception. We look forward to providing care for more residents in the area and are looking to expand our footprint to facilitate an increasing demand for our services.' Seamus Lagan, Chief Executive Officer of parent company, FOXO Technologies Inc., further added, 'we are pleased with our investment in Myrtle and how it has ramped up operations and made a significant impact in the rural communities Myrtle serves. We look forward to expanding Myrtle into additional locations and increasing the revenues this subsidiary contributes to FOXO.' About FOXO Technologies Inc. ('FOXO') FOXO owns and operates three subsidiaries. Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical), a critical access designated (CAH) hospital in East Tennessee. Myrtle Recovery Centers, Inc., a 30-bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs. FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries. For more information about FOXO, visit Forward-Looking Statements This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the FOXO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in operating performance across competitors or changes in laws and regulations affecting FOXO's business; the ability to implement FOXO's business plans, forecasts, and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; potential inability of FOXO to establish or maintain relationships required to advance its goals or to achieve its commercialization and development plans; the enforceability of FOXO's intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry or in the markets or industries in which FOXO operates. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO's most recent reports on Forms 10-K and 10-Q, particularly the 'Risk Factors' sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Associated Press
12-03-2025
- Business
- Associated Press
FOXO TECHNOLOGIES INC. PROVIDES UPDATE ON ITS BEHAVIORAL HEALTH SUBSIDIARY, MYRTLE RECOVERY CENTERS, INC.
MINNEAPOLIS, MN, March 12, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) (the 'Company or FOXO'), provides an update on Myrtle Recovery Centers, Inc., ('Myrtle') and its behavioral health facility in Oneida, Tennessee, and confirms participation in a major alcohol and drug addiction conference in East Tennessee. Myrtle is pleased to announce that its Oneida, Tennessee substance abuse treatment facility has reached stabilization by maintaining an occupancy rate of 75% or greater since the beginning of 2025. In addition, on occasion, the facility has been at capacity unable to accept additional patients over the same period. Myrtle has also, since the beginning of 2025, finalized a number of in-network contracts with major managed care organizations. Myrtle is also pleased to announce its participation as a Silver Sponsor in the upcoming ETAADAC (East Tennessee Association of Alcohol and Drug Addiction Counselors) Conference, taking place in Knoxville TN on March 19-21, 2025. This event offers an excellent opportunity to bring together key industry leaders from across the state to address the most pressing issues in addiction counseling and treatment. The ETAADAC Conference serves as a vital platform for professionals in the field of addiction recovery to exchange ideas, share best practices, and engage in discussions on emerging trends and challenges. Attendees will have the opportunity to network with experts, gain insights from thought-provoking presentations, and explore innovative approaches to addiction treatment. 'We are delighted with the progress our business has achieved since becoming part of FOXO and are honored to be part of this important conference next week that brings together dedicated professionals committed to making a difference in addiction recovery,' said Robert Merritt, CEO of Myrtle Recovery Centers. 'ETAADAC provides an invaluable opportunity for collaboration and learning as we continue our efforts to improve lives and strengthen our communities in rural Tennessee.' For more information about the ETAADAC, please visit About FOXO Technologies Inc. ('FOXO') FOXO owns and operates three subsidiaries. Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical), a critical access designated (CAH) hospital in East Tennessee. Myrtle Recovery Centers, Inc. operates a 30-bed behavioral health facility in East Tennessee providing inpatient services for detox and residential treatment and outpatient services for MAT and OBOT programs. FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries. For more information about FOXO, visit Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue,' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company's most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Contact: Sebastien Sainsbury
Associated Press
24-02-2025
- Business
- Associated Press
FOXO TECHNOLOGIES, INC. ANNOUNCES EXECUTION OF A NON-BINDING ACQUISITION AGREEMENT FOR TWO ASSISTED-LIVING FACILITIES IN FLORIDA FOR A TOTAL CONSIDERATION OF $60 MILLION
MINNEAPOLIS, MN, Feb. 24, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) (the 'Company or FOXO'), announces that it has executed a non-binding acquisition agreement for two assisted living facilities in Florida. One facility has 129 units, and the second facility has 137 units. The purchase price for each facility is expected to be $30 million, a portion of which is milestone-based. The parties aim to complete definitive agreements withing 60 days, Closing is expected to occur between 60 and 120 days after completion of definitive agreements and is subject to a number of closing conditions, including satisfactory due diligence and financing. 'We are delighted to have executed this non-binding agreement for these strategic acquisitions,' said Seamus Lagan, Chief Executive Officer of FOXO. 'While we cannot confirm that due diligence will have a successful outcome or that we can successfully secure the capital for a new series of preferred stock or list this preferred stock as is being considered as a funding mechanism to complete these acquisitions, we are optimistic that we can complete these acquisitions as planned. We like the recurring revenue and cash flow model in this sector and are confident that diversifying our current services offerings in the health care sector will create significant value and opportunity for our shareholders. The Company has structured the acquisitions with milestone payments related to increased revenues at the facilities and believes these acquisitions will create a viable acquisition model for the Company to use to pursue additional, added value acquisitions for FOXO in the future.' About FOXO Technologies Inc. ('FOXO') FOXO owns and operates three subsidiaries. Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical), a critical access designated (CAH) hospital in East Tennessee. Myrtle Recovery Centers, Inc. operates a 30-bed behavioral health facility in East Tennessee providing inpatient services for detox and residential treatment and outpatient services for MAT and OBOT programs. FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries. For more information about FOXO, visit Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue,' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company's most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Contact: Sebastien Sainsbury
