Latest news with #SeamusLagan
Yahoo
6 days ago
- Business
- Yahoo
FOXO Technologies set for assisted living facility acquisition in US
FOXO Technologies has entered a non-binding agreement to acquire an assisted living and memory care facility in South Florida, US, signalling a strategic expansion into healthcare services. The $22m transaction includes the facility's land and buildings, which comprise 87 units licensed for healthcare provision. The acquisition's completion hinges on definitive agreements and various closing conditions, such as satisfactory due diligence and securing the necessary financing. A part of the acquisition cost, amounting to $5m, will be paid through non-convertible preferred stock. FOXO CEO Seamus Lagan said: 'This agreement further demonstrates our strategy to add assisted living facilities to the health care services we provide. 'We are confident that we can close on acquisitions currently subject to non-binding agreements, which, if successfully completed, will add in excess of 350 units providing assisted living and memory care services.' The company is also nearing the finalisation of a definitive agreement for the acquisition of Vector Biosource, a deal that was previously disclosed. FOXO continues to engage in discussions for more opportunities within the assisted living and behavioural health sectors, anticipating the imminent growth of its Myrtle Recovery Centers business. The company is set to file its quarterly report for the quarter ending June 2025 by 14 August 2025. The company anticipates this report will reflect an upward trajectory in net revenues, profitability, and stockholder equity. In a related development in June 2024, FOXO revealed share exchange agreements for the acquisition of healthcare operations from Rennova Health, which included a critical access hospital and a subsidiary specialising in behavioural health services in the US. "FOXO Technologies set for assisted living facility acquisition in US" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
7 days ago
- Business
- Associated Press
FOXO TECHNOLOGIES INC. ANNOUNCES EXECUTION OF A NON-BINDING ACQUISITION AGREEMENT FOR AN ASSISTED-LIVING FACILITY IN SOUTH FLORIDA FOR A TOTAL CONSIDERATION OF $22 MILLION
WEST PALM BEACH, FLORIDA, Aug. 06, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) ('FOXO' or the 'Company') announces that it has executed a non-binding acquisition agreement to acquire an assisted living and memory care facility in South Florida. The proposed acquisition includes the land and buildings. The facility has 87 units licensed for the provision of assisted living and memory care services. The purchase price for the facility is expected to be $22 million, a portion of which is milestone-based. $5M of the purchase price will be in the form of non-convertible preferred stock. Completion of the acquisition is subject to definitive agreements and a number of closing conditions, including satisfactory due diligence and financing. 'This agreement further demonstrates our strategy to add assisted living facilities to the health care services we provide,' said Seamus Lagan, Chief Executive Officer of FOXO. 'We are confident that we can close on acquisitions currently subject to non-binding agreements, which if successfully completed, will add in excess of 350 units providing assisted living and memory care services.' Furthermore, the Company expects to shortly confirm a definitive agreement that is at an advanced stage of completion for the acquisition of Vector Biosource, Inc., that was previously announced. The Company continues to explore and negotiate additional opportunities in the assisted living and behavioral health sector and is confident that the expansion of its Myrtle Recovery Centers, Inc. business is imminent. The Company expects to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 on or before August 14, 2025, and expects to demonstrate a continued improvement in net revenues, profitability and stockholders' equity. 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 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 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; 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 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
Business Upturn
01-08-2025
- Health
- Business Upturn
FOXO TECHNOLOGIES INC.'S BIG SOUTH FORK MEDICAL CENTER COMPLETES PERFORMANCE NETWORK AGREEMENT WITH COVENANT HEALTH TO PROVIDE SWING BED SERVICES
WEST PALM BEACH, FLORIDA, Aug. 01, 2025 (GLOBE NEWSWIRE) — FOXO Technologies Inc. (NYSE American: FOXO) ('FOXO' or the 'Company') today announced that its critical access designated rural hospital, Big South Fork Medical Center located in Oneida, Tennessee, has completed a Performance Network Agreement with Covenant Health to join their performance network as a provider of swing bed services. Covenant Health is a large, muti-facility hospital network serving greater Knoxville and East Tennessee. Patients who no longer meet acute care admission criteria are frequently in need of post-acute care to enhance their recovery. Big South Fork Medical Center is well positioned to provide swing bed services to a number of patients needing post-acute care, which will facilitate patients returning to their communities and being closer to their family during their recovery periods. Hal Leftwich, CEO of Big South Fork Medical Center noted, 'This agreement is an attestation to the services we provide and our hospital's proximity to patient homes in this and surrounding communities which make us an attractive option for many patients in need of post-acute care.' 'Being part of Covenant Health's performance network is consistent with our organic growth strategy of increasing net revenues at the hospital,' 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; 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 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
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
27-06-2025
- Business
- Yahoo
FOXO TECHNOLOGIES INC. DESIGNATES NEW SERIES OF PREFERRED STOCK TO BE USED FOR ACQUISITIONS
WEST PALM BEACH, FLORIDA, June 27, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) ('FOXO' or the 'Company') today announced that it has designated a new series of its preferred stock (Series E Cumulative Redeemable Secured Preferred Stock e (the 'Series E Preferred Stock')) and filed the series' certificate of designation with the Secretary of State of Delaware. The newly designated series of preferred stock includes: (i) a stated value of $25.00 per share, (ii) a 2.5% per annum cash dividend paid semi-annually, (iii) a 5.0% per annum common stock dividend paid semi-annually, and (iv) a security interest in the stock of the Company's recently formed acquisition vehicle, FOXO Acquisition Corporation. Seamus Lagan, CEO of FOXO stated, 'We are excited about taking a critical step as FOXO continues to pursue its acquisition strategy and is actively engaged in efforts to close previously announced acquisitions as well as evaluate new opportunities. The newly designated preferred stock will be used as both an acquisition currency and capital raising security. We intend, at the appropriate time, to have the Series E Preferred Stock publicly listed with its own trading symbol. We believe having a funding mechanism that is non-dilutive to common stockholders for the acquisition of attractive businesses gives us an opportunity to increase our net revenues and cash flow to create long-term value for our stockholders.' This announcement is being made pursuant to and in accordance with Rule 135 promulgated pursuant to the Securities Act of 1933, as amended (the 'Securities Act'). As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act. 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; and the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future. 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
