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
FOXO Technologies (NYSE American: FOXO) has signed a non-binding agreement to acquire an assisted living and memory care facility in South Florida for $22 million. The facility features 87 licensed units for assisted living and memory care services. The purchase structure includes $5 million in non-convertible preferred stock, with a portion being milestone-based.
The company is also finalizing a previously announced acquisition of Vector Biosource, Inc., and pursuing expansion in assisted living and behavioral health sectors through its Myrtle Recovery Centers subsidiary. If current non-binding agreements are completed, FOXO will add over 350 units to its healthcare services portfolio. The company expects to file its Q2 2025 10-Q by August 14, projecting improved revenues and profitability.
FOXO Technologies (NYSE American: FOXO) ha firmato un accordo non vincolante per acquisire una struttura di assistenza assistita e cura della memoria nel Sud della Florida per 22 milioni di dollari. La struttura dispone di 87 unità autorizzate per servizi di assistenza assistita e cura della memoria. La struttura dell'acquisto prevede 5 milioni di dollari in azioni privilegiate non convertibili, di cui una parte basata su obiettivi da raggiungere.
L'azienda sta inoltre finalizzando una precedente acquisizione annunciata di Vector Biosource, Inc., e sta perseguendo un'espansione nei settori dell'assistenza assistita e della salute comportamentale tramite la sua controllata Myrtle Recovery Centers. Se gli attuali accordi non vincolanti verranno completati, FOXO aggiungerà oltre 350 unità al suo portafoglio di servizi sanitari. La società prevede di presentare il suo rapporto 10-Q del secondo trimestre 2025 entro il 14 agosto, con proiezioni di ricavi e redditività in miglioramento.
FOXO Technologies (NYSE American: FOXO) ha firmado un acuerdo no vinculante para adquirir una instalación de asistencia asistida y cuidado de la memoria en el sur de Florida por 22 millones de dólares. La instalación cuenta con 87 unidades licenciadas para servicios de asistencia asistida y cuidado de la memoria. La estructura de la compra incluye 5 millones de dólares en acciones preferentes no convertibles, una parte de las cuales está basada en hitos.
La compañía también está finalizando una adquisición previamente anunciada de Vector Biosource, Inc., y está buscando expandirse en los sectores de asistencia asistida y salud conductual a través de su subsidiaria Myrtle Recovery Centers. Si se completan los acuerdos no vinculantes actuales, FOXO añadirá más de 350 unidades a su cartera de servicios de salud. La empresa espera presentar su informe 10-Q del segundo trimestre de 2025 antes del 14 de agosto, proyectando mejoras en ingresos y rentabilidad.
FOXO Technologies (NYSE American: FOXO)는 남부 플로리다에 위치한 지원 생활 및 기억 관리 시설을 2200만 달러에 인수하기 위한 구속력 없는 계약을 체결했습니다. 이 시설은 지원 생활 및 기억 관리 서비스를 위한 87개의 허가된 유닛을 갖추고 있습니다. 구매 구조에는 500만 달러의 전환 불가능 우선주가 포함되며, 일부는 이정표 달성에 기반합니다.
회사는 또한 이전에 발표된 Vector Biosource, Inc. 인수를 마무리하고, 자회사인 Myrtle Recovery Centers를 통해 지원 생활 및 행동 건강 분야에서 확장을 추진하고 있습니다. 현재의 구속력 없는 계약이 완료되면 FOXO는 의료 서비스 포트폴리오에 350개 이상의 유닛을 추가하게 됩니다. 회사는 2025년 2분기 10-Q 보고서를 8월 14일까지 제출할 예정이며, 매출 및 수익성 향상을 기대하고 있습니다.
FOXO Technologies (NYSE American : FOXO) a signé un accord non contraignant pour acquérir une résidence avec assistance et un établissement de soins de la mémoire dans le sud de la Floride pour 22 millions de dollars. L'établissement comprend 87 unités agréées pour les services d'assistance et de soins de la mémoire. La structure de l'achat inclut 5 millions de dollars en actions privilégiées non convertibles, dont une partie est basée sur des étapes à atteindre.
L'entreprise finalise également une acquisition précédemment annoncée de Vector Biosource, Inc., et poursuit son expansion dans les secteurs de l'assistance et de la santé comportementale via sa filiale Myrtle Recovery Centers. Si les accords non contraignants actuels sont finalisés, FOXO ajoutera plus de 350 unités à son portefeuille de services de santé. La société prévoit de déposer son rapport 10-Q du deuxième trimestre 2025 d'ici le 14 août, en anticipant une amélioration des revenus et de la rentabilité.
FOXO Technologies (NYSE American: FOXO) hat eine unverbindliche Vereinbarung zum Erwerb einer Einrichtung für betreutes Wohnen und Gedächtnispflege in Südflorida für 22 Millionen US-Dollar unterzeichnet. Die Einrichtung verfügt über 87 lizenzierte Einheiten für betreutes Wohnen und Gedächtnispflegedienste. Die Kaufstruktur umfasst 5 Millionen US-Dollar in nicht wandelbaren Vorzugsaktien, wobei ein Teil auf Meilensteinen basiert.
Das Unternehmen finalisiert zudem eine zuvor angekündigte Übernahme von Vector Biosource, Inc. und verfolgt eine Expansion in den Bereichen betreutes Wohnen und Verhaltensgesundheit über seine Tochtergesellschaft Myrtle Recovery Centers. Sollten die aktuellen unverbindlichen Vereinbarungen abgeschlossen werden, wird FOXO über 350 Einheiten zu seinem Portfolio an Gesundheitsdienstleistungen hinzufügen. Das Unternehmen plant, seinen 10-Q-Bericht für das zweite Quartal 2025 bis zum 14. August einzureichen und erwartet verbesserte Umsätze und Profitabilität.
- Strategic expansion into assisted living sector with 87 licensed units
- Structured deal includes $5M in non-convertible preferred stock, potentially reducing cash burden
- Pipeline of acquisitions could add over 350 total units if completed
- Management projects improved net revenues and profitability in upcoming Q2 report
- Acquisition agreement is non-binding and subject to multiple closing conditions
- Significant capital requirement of $22M for single facility acquisition
- Milestone-based payment structure adds execution risk
- Company faces integration challenges entering new healthcare service segment
Insights
FOXO's non-binding $22M assisted living facility acquisition signals strategic healthcare diversification but contains execution risks pending definitive agreements.
FOXO Technologies has executed a non-binding agreement to acquire an 87-unit assisted living and memory care facility in South Florida for
This agreement is part of FOXO's strategic pivot toward healthcare services, specifically the assisted living sector. CEO Seamus Lagan indicated this is just one component of a broader acquisition strategy targeting over 350 units in the assisted living and memory care segment. The company is also pursuing an acquisition of Vector Biosource and expanding its Myrtle Recovery Centers business.
However, investors should note several important qualifications. First, this is a non-binding agreement contingent on definitive agreements, due diligence, and financing. The milestone-based structure suggests contingent payments tied to performance metrics. The company's ability to secure favorable financing terms will significantly impact the acquisition's economics.
The company expects to file its Q2 2025 results by August 14th, projecting improved revenues, profitability, and stockholder equity. This acquisition represents a strategic diversification into a relatively stable healthcare subsector with demographic tailwinds from an aging population, though execution risks remain substantial until definitive agreements are secured.
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
“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 www.foxotechnologies.com.
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
ssainsbury@foxotechnologies.com
(561) 485-0151
FAQ
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