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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe 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.
