FOXO Technologies Signs Non-binding Deal to Acquire Two Assisted-Living Facilities in Florida

MINNEAPOLIS, MN, February 24, 2025 – FOXO Technologies Inc. (NYSE American: FOXO) announced on Friday that it has executed a non-binding acquisition agreement for two assisted living facilities in Florida, valued at a total consideration of $60 million. Under the terms of the deal, each facility is expected to be acquired for $30 million, with a portion of the payment structured as milestone-based contingent payments.

The facilities, which consist of 129 units at one location and 137 units at the other, are part of FOXO’s strategic initiative to diversify its service offerings within the healthcare sector. The parties involved in the agreement plan to finalize definitive acquisition documents within the next 60 days, with the closing anticipated to occur between 60 and 120 days following the completion of these agreements. The closing is subject to a number of conditions, including successful due diligence and the securing of financing.

Chief Executive Officer Seamus Lagan commented on the transaction, stating, “We are delighted to have executed this non-binding agreement for these strategic acquisitions. While we cannot confirm that due diligence will have a successful outcome or that the necessary financing will be secured, we are optimistic about completing these acquisitions as planned. We believe that the recurring revenue and cash flow models inherent in this sector, combined with a structured, milestone-based payment approach, could serve as a viable model for future growth.”

The acquisition comes as FOXO Technologies continues to diversify its portfolio. The company’s existing operations include a critical access hospital and a behavioral health facility managed through its subsidiaries, as well as a biotechnology division focused on developing cutting-edge health solutions. By expanding into the assisted living sector, FOXO aims to create additional value and new growth opportunities for its shareholders.

Investors should note that the press release includes forward-looking statements that are subject to risks and uncertainties. Factors such as the outcomes of due diligence and the ability to secure financing may cause actual results to differ materially from those reflected in these statements.

This non-binding agreement marks another step in FOXO Technologies’ ongoing efforts to enhance its service offerings and expand its footprint within the healthcare industry. Further updates will be provided as the transaction advances toward a definitive and binding agreement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FOXO Technologies’s 8K filing here.

FOXO Technologies Company Profile

FOXO Technologies Inc engages in epigenetic biomarker underwriting technology and consumer engagement platform service business in the United States. It operates through two segments, FOXO Labs and FOXO Life. The company applies automated machine learning and artificial intelligence technologies to discover epigenetic biomarkers of human health, wellness, and aging.