FOXO completes acquisition of operations from Rennova Health

FOXO Technologies has finalized the acquisition of two revenue-generating operations from Rennova Health, Inc. The acquisitions include Myrtle Recovery Centers, Inc., a behavioral health services subsidiary, and Rennova Community Health, Inc., which owns Scott County Community Hospital in Tennessee.

These acquisitions are expected to generate over $20 million in annual revenue, with the potential to exceed $50 million within the next 24 months. The deal is part of FOXO’s strategy to enhance its healthcare and wellness offerings while boosting overall revenue growth.

“We are pleased to have completed these healthcare-related acquisitions from Rennova. These transactions align with our core strategy of improving healthcare and well-being while significantly boosting our revenue. We expect to generate annual revenues in excess of $20 million from these acquisitions, with the potential to reach over $50 million in the next 24 months. Our relationship with Rennova opens additional opportunities to expand FOXO’s technologies in the marketplace, and we believe this is a turning point for FOXO and its shareholders.” – Mark White, Interim CEO of FOXO Technologies.

Bottom Line: The company reported revenue of $28,000 for Q2’24.