FOXO outlines 2025 progress following formation of FOXO Acquisition Corporation

FOXO Technologies  shared a year end update from CEO Seamus Lagan highlighting the company’s transition into a multi platform healthcare and pharmaceutical services operator, following a series of acquisitions completed since mid 2024.

The foundation of the current FOXO was built with the acquisitions of Myrtle Recovery Centers and Rennova Community Health, including Scott County Community Hospital, followed by the addition of Vector BioSource in 2025. Myrtle’s residential and medically supervised withdrawal facility in Oneida, Tennessee is now operating near full capacity, serving patients from across the state and projecting roughly 550 admissions in 2025, up from 195 in 2024. The center has secured state opioid abatement funding for uninsured patients and is developing a post discharge care app aimed at improving continuity of care and patient engagement. With excess referrals, Myrtle is evaluating additional locations.

Rennova’s Scott County Community Hospital, operating as Big South Fork Medical Center, remains FOXO’s flagship acute care asset. The critical access hospital expects more than 7,000 emergency room visits in 2025, alongside expanded outpatient and inpatient services, including swing beds and wound care. The facility is in network with major payors, including Medicare Advantage and Tennessee Medicaid managed care plans.

FOXO’s most recent acquisition, Vector BioSource, positions the company in pharmaceutical and biotech research services through the sourcing and sale of biospecimens. Management expects Vector to generate approximately $1 million in net revenue in 2025, with plans to scale through infrastructure investment, market expansion, and additional acquisitions in the sector.

At the corporate level, FOXO reported approximately $12 million in net revenue for the nine months ended September 30, 2025, and expects to exceed $15 million for the full year. Equity increased to $20.2 million as of September 30, 2025, while debt was reduced to $7.1 million, aided by the settlement of legacy liabilities and the restructuring of PIK note debt into preferred stock.

To support future acquisitions, FOXO formed FOXO Acquisition Corporation and introduced a new Series E Cumulative Redeemable Secured Preferred Stock, which was used in part to fund the Vector transaction.

The company is also evaluating options to uplist its common stock following its delisting from NYSE American in 2025, though management noted there is no certainty around timing or outcome.