FOXO Technologies' behavioral health subsidiary gets license renewal.

FOXO Technologies' behavioral health subsidiary, Myrtle Recovery Centers, has renewed its operating license for its Oneida, TN location for another year. The license renewal was granted after a successful annual inspection by the State of Tennessee's Department of Mental Health and Substance Abuse Services. The facility is currently at full capacity and managing a waiting list for future admissions. FOXO is considering strategic options for expansion.

FOXO Technologies, Inc. (NYSE American: FOXO) has announced that its behavioral health subsidiary, Myrtle Recovery Centers, has successfully renewed its operating license for its Oneida, Tennessee facility for another year. The license renewal was granted by the State of Tennessee's Department of Mental Health and Substance Abuse Services following a successful annual inspection [1].

The Oneida facility, which provides alcohol and drug residential treatment services, is currently operating at full capacity with a waiting list for future admissions. Management is actively exploring strategic expansion options, including opening a second location and potential acquisitions in the behavioral health sector [1].

Robert Merritt, CEO of Myrtle Recovery Centers, noted, "We are pleased that the state renewed our operating license for another year. Currently, the facility is at full capacity, and we are managing a waiting list for future admissions." Seamus Lagan, CEO of parent company, FOXO Technologies Inc., stated, "We are leveraging the success of Myrtle’s first operating location through active consideration of various strategic options for expansion. We believe we will soon be in a position to initiate opening a second location and continue to consider possible acquisitions in the sector" [1].

FOXO Technologies owns and operates three subsidiaries: Rennova Community Health, Inc., Myrtle Recovery Centers, Inc., and FOXO Labs, Inc. Myrtle Recovery Centers provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs [1].

This press release contains forward-looking statements, which are subject to risks and uncertainties. Readers should carefully consider the risks and uncertainties discussed in FOXO’s most recent reports on Forms 10-K and 10-Q [1].

References:
[1] https://www.stocktitan.net/news/FOXO/foxo-technologies-inc-announces-license-renewal-and-provides-zbp2xqm185lw.html