8-K: FOXO Technologies Inc. Provides Update on Behavioral Health Subsidiary, Myrtle Recovery Centers, Inc.

FOXO Technologies Inc. announces that its subsidiary, Myrtle Recovery Centers, Inc., has reached stabilization with a consistent occupancy rate of 75% or greater since the beginning of 2025 and is participating in the ETAADAC conference.

Summary

• FOXO Technologies Inc. has provided an update on its behavioral health subsidiary, Myrtle Recovery Centers, Inc.
• Myrtle's substance abuse treatment facility in Oneida, Tennessee, has reached stabilization, maintaining an occupancy rate of 75% or greater since the beginning of 2025.
• The facility has occasionally been at full capacity during this period.
• Myrtle has finalized several in-network contracts with major managed care organizations since the start of 2025.
• Myrtle is participating as a Silver Sponsor in the ETAADAC Conference in Knoxville, TN, from March 19-21, 2025.
• The ETAADAC Conference is a platform for industry leaders to discuss addiction counseling and treatment.

Sentiment

Score: 7

Explanation: The announcement is generally positive, highlighting the stabilization of Myrtle Recovery Centers and its participation in an industry conference. However, the presence of forward-looking statements and associated risks tempers the overall sentiment.

Positives

• Myrtle Recovery Centers has achieved a stable occupancy rate of 75% or greater since the beginning of 2025.
• The facility has secured in-network contracts with major managed care organizations.
• Myrtle's participation in the ETAADAC Conference provides an opportunity for collaboration and learning.

Risks

• The announcement contains forward-looking statements that are subject to risks and uncertainties.
• Actual results may differ materially from expectations.

Future Outlook

The company cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date made, and does not undertake any obligation to update these statements.

Management Comments

• Robert Merritt, CEO of Myrtle Recovery Centers, stated that they are delighted with the progress since becoming part of FOXO and honored to be part of the ETAADAC conference.

Industry Context

The announcement highlights FOXO Technologies' involvement in the behavioral health sector through its subsidiary, Myrtle Recovery Centers, and its efforts to address addiction treatment in rural Tennessee.

Comparison to Industry Standards

• A 75% occupancy rate is generally considered a good benchmark for behavioral health facilities, suggesting effective operations and demand for services.
• In-network contracts with major managed care organizations are crucial for ensuring patient access and reimbursement, aligning with industry best practices.
• Participation in conferences like ETAADAC demonstrates a commitment to staying current with industry trends and best practices, similar to other leading behavioral health providers.

Stakeholder Impact

• Shareholders may view the stabilization of Myrtle Recovery Centers positively.
• Patients and communities in East Tennessee may benefit from improved access to addiction treatment services.
• Employees of Myrtle Recovery Centers may experience increased job security due to the facility's stabilization.

Next Steps

• Myrtle Recovery Centers will participate in the ETAADAC Conference from March 19-21, 2025.
• FOXO Technologies will continue to monitor and update stakeholders on the progress of Myrtle Recovery Centers.

Key Dates