Welcome to our dedicated page for FOXO TECHNOLOGIES news (Ticker: FOXO), a resource for investors and traders seeking the latest updates and insights on FOXO TECHNOLOGIES stock.
FOXO Technologies Inc. (FOXO) generates news across healthcare services, behavioral health, biospecimen sourcing and biotechnology. Company announcements describe operations at its critical access hospital in East Tennessee, its behavioral health subsidiary, Myrtle Recovery Centers, its biospecimen provider Vector BioSource, Inc., and its biotechnology arm, FOXO Labs, Inc.
News items for FOXO often cover developments at Big South Fork Medical Center, including service expansions such as swing bed and wound care services and agreements like its Performance Network Agreement with Covenant Health to provide swing bed services within a broader performance network. Updates may also highlight patient volumes, service mix and new clinical offerings at the hospital.
FOXO’s behavioral health subsidiary, Myrtle Recovery Centers, Inc., appears frequently in company communications through license renewals, operational updates, and recognition from local and statewide organizations. News has included approval to receive Scott County Opioid Abatement Funds to support care for uninsured patients, as well as acknowledgments from associations such as the Rural Health Association of Tennessee.
On the life sciences side, FOXO issues press releases about its acquisition and growth of Vector BioSource, Inc., an information, data and biospecimen sourcing provider serving biotechnology, clinical research and pharmaceutical research sectors. These updates detail acquisition terms, revenue run-rate information, and planned funding for Vector’s growth initiatives.
FOXO also publishes news about FOXO Labs, Inc. and its epigenetics business, including the decision to pursue a spin-off of FOXO Labs, descriptions of its patent related to DNA epigenetic data, and its work on epigenetic biomarkers and AI-based wellness coaching concepts.
Corporate-level news for FOXO includes reverse stock split actions, changes to authorized share capital, preferred stock designations, and listing status updates, such as the transition of its common stock trading from NYSE American to the OTC market. Investors and observers can use the FOXO news feed on Stock Titan to follow these healthcare, biotechnology and corporate governance developments as they are disclosed in press releases and related SEC filings.
FOXO Technologies has received a non-compliance notice from the NYSE American due to overdue listing fees exceeding 180 days. The company missed the June 7, 2024 deadline for payment but has since settled the fees. FOXO's Interim CEO, Mark White, attributed the delay to short-term capital allocation strategies, including planned acquisitions expected to boost cash flow. Despite the delinquency, FOXO aims to regain compliance with NYSE standards soon. The company is now under the procedures outlined in Section 1009 of the NYSE Company Guide.
On June 14, 2024, FOXO Technologies announced two share exchange agreements with Rennova Health to acquire healthcare operations. The deals involve Myrtle Recovery Centers and Scott County Community Hospital (doing business as Big South Fork Medical Center). Myrtle Recovery Centers will be exchanged for $500,000 in FOXO common stock, while Scott County Community Hospital will be exchanged for $20 million in convertible preferred stock. These acquisitions are expected to generate significant cash flow for FOXO, with the acquired entities reporting $18.7 million in net revenue and $5.2 million in net income for 2023. The integration aims to leverage FOXO’s epigenetic technology in community health and addiction recovery, potentially expanding market reach and improving patient outcomes.
On June 14, 2024, FOXO Technologies announced two share exchange agreements with Rennova Health to acquire healthcare operations. The deals involve Myrtle Recovery Centers and Scott County Community Hospital (doing business as Big South Fork Medical Center). Myrtle Recovery Centers will be exchanged for $500,000 in FOXO common stock, while Scott County Community Hospital will be exchanged for $20 million in convertible preferred stock. These acquisitions are expected to generate significant cash flow for FOXO, with the acquired entities reporting $18.7 million in net revenue and $5.2 million in net income for 2023. The integration aims to leverage FOXO’s epigenetic technology in community health and addiction recovery, potentially expanding market reach and improving patient outcomes.
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