Activist investor Engine Capital is pressuring Acadia Healthcare (NASDAQ:ACHC) to overhaul its board and rethink its growth strategy as the behavioral health provider grapples with federal investigations and steep share losses. In a letter to the company's board, Engine disclosed a roughly 3% stake, making it one of Acadia's 10 largest shareholders. The hedge fund urged the operator of psychiatric hospitals and recovery clinics to halt expensive new projects, review its asset portfolio, and add directors ...

Core Viewpoint - FOXO Technologies Inc. has executed a non-binding acquisition agreement to acquire an assisted living and memory care facility in South Florida for an expected purchase price of $22 million [1][2]. Group 1: Acquisition Details - The acquisition includes the land and buildings of a facility with 87 licensed units for assisted living and memory care services [2]. - The purchase price will consist of $5 million in non-convertible preferred stock, with a portion of the price being milestone-based [2]. - Completion of the acquisition is contingent upon definitive agreements and various closing conditions, including satisfactory due diligence and financing [2]. Group 2: Strategic Expansion - The CEO of FOXO stated that this agreement aligns with the company's strategy to expand its healthcare services by adding assisted living facilities [3]. - The company is confident in closing on additional acquisitions that could add over 350 units for assisted living and memory care services [3]. - FOXO is also in advanced stages of confirming a definitive agreement for the acquisition of Vector Biosource, Inc. [3]. Group 3: Future Outlook - FOXO is actively exploring and negotiating further opportunities in the assisted living and behavioral health sector, with imminent expansion plans for its Myrtle Recovery Centers, Inc. business [4]. - The company anticipates filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, by August 14, 2025, expecting to show continued improvement in net revenues, profitability, and stockholders' equity [4]. Group 4: Company Overview - FOXO Technologies Inc. operates three subsidiaries: Rennova Community Health, Inc., Myrtle Recovery Centers, Inc., and FOXO Labs, Inc., focusing on healthcare and biotechnology [5][6].

Core Insights - FOXO Technologies, Inc. announced the renewal of its behavioral health subsidiary Myrtle Recovery Centers' operating license for its Oneida, TN location for another year, following a successful annual inspection by the State of Tennessee's Department of Mental Health and Substance Abuse Services [1] - The facility is currently at full capacity and has a waiting list for future admissions, indicating strong demand for its services [2] - The company is considering strategic options for expansion, including the potential opening of a second location and possible acquisitions in the sector [2] Company Overview - FOXO Technologies operates three subsidiaries: Rennova Community Health, Inc., which owns Scott County Community Hospital, a critical access hospital in East Tennessee; Myrtle Recovery Centers, a 30-bed behavioral health facility providing inpatient and outpatient services; and FOXO Labs, a biotechnology company focused on improving human health and lifespan through innovative technology [3][4]

Core Insights - FOXO Technologies Inc. announced that its subsidiary Myrtle Recovery Centers has been approved for a second year of funding from Scott County Opioid Abatement Funds to provide care for uninsured patients starting July 1, 2025 [1][2] - Myrtle Recovery Centers operates at full capacity with a waiting list, indicating strong demand for its services and the quality of care provided [2] - FOXO Technologies plans to expand Myrtle Recovery Centers through organic growth and acquisitions, anticipating significant revenue contributions in the future [2] Company Overview - FOXO Technologies operates three subsidiaries: Rennova Community Health, which runs Scott County Community Hospital, Myrtle Recovery Centers, a 30-bed behavioral health facility, and FOXO Labs, a biotechnology company focused on health and lifespan improvement [3][4] - Myrtle Recovery Centers provides inpatient detox and residential treatment, as well as outpatient services for Medication-Assisted Treatment (MAT) and Office-Based Opioid Treatment (OBOT) programs [3]

Core Points - FOXO Technologies Inc. has designated a new series of preferred stock, Series E Cumulative Redeemable Secured Preferred Stock, with a stated value of $25.00 per share and a 2.5% cash dividend paid semi-annually [1] - The Series E Preferred Stock will serve as both an acquisition currency and a capital raising security, aimed at supporting the company's acquisition strategy and enhancing long-term value for stockholders [2] - FOXO operates three subsidiaries, including a critical access hospital and a behavioral health facility, indicating its involvement in the healthcare sector [3] Financial Details - The Series E Preferred Stock includes a 5.0% per annum common stock dividend paid semi-annually and a security interest in the stock of FOXO's acquisition vehicle [1] - The company intends to publicly list the Series E Preferred Stock with its own trading symbol at an appropriate time [2] Company Overview - FOXO Technologies Inc. focuses on improving human health and lifespan through biotechnology and innovative product solutions [4] - The company operates in the healthcare industry, with subsidiaries that provide critical access healthcare and behavioral health services [3]

Core Viewpoint - FOXO Technologies Inc. has established a new wholly-owned subsidiary, FOXO Acquisition Corporation, aimed at acquiring targets in the healthcare services sector, while also planning to create a new series of non-convertible preferred stock to facilitate these acquisitions [1][2]. Group 1: Company Developments - On June 13, 2025, FOXO formed FOXO Acquisition Corporation in Florida to pursue targeted acquisitions [2]. - The company plans to issue a new series of non-convertible preferred stock, which is expected to be publicly listed and will generate cash and common stock dividends for investors [2]. - CEO Seamus Lagan expressed optimism about the acquisition strategy, emphasizing non-dilutive funding for common stockholders and targeting acquisitions with significant growth potential [3]. Group 2: Leadership Changes - The company announced the passing of Interim Chief Financial Officer Martin Ward on June 9, 2025, and Seamus Lagan has been appointed as the Interim CFO while a search for a permanent replacement is underway [4]. Group 3: Company Overview - FOXO operates three subsidiaries: Rennova Community Health, which runs a critical access hospital in East Tennessee; Myrtle Recovery Centers, a behavioral health facility; and FOXO Labs, a biotechnology company focused on health and lifespan improvement [6][7].

Core Insights - FOXO Technologies Inc. announced significant patient care milestones achieved by its subsidiary, Myrtle Recovery Centers, which has treated over 400 patients and provided more than 5,000 care days since opening in August 2023 [1][2] - Myrtle Recovery Centers aims to serve 10,000 patient care days by the end of 2025, indicating strong growth and demand for its services in East Tennessee [2] - FOXO Technologies is pleased with the operational ramp-up of Myrtle and plans to expand its footprint to meet increasing demand, which is expected to enhance revenue contributions from this subsidiary [2][3] Company Overview - FOXO Technologies operates three subsidiaries, including Myrtle Recovery Centers, which is a 30-bed behavioral health facility providing inpatient and outpatient services for substance use disorder [3] - The company also owns Rennova Community Health, which operates a critical access hospital in East Tennessee, and FOXO Labs, a biotechnology firm focused on health and lifespan improvement [3][4]