FOXO Technologies Inc. (NYSE: FOXO) shares began Tuesday up more than double on word its behavioral health subsidiary, Myrtle Recovery Centers, Inc., has reached key patient care milestones. Since operations commenced at its Oneida, Tennessee location in August 2023, the facility has seen over 400 patients and has served patients for over 5,000 care days.
Myrtle CEO Robert Merritt stated, “We are excited about reaching these important patient care milestones as they are indicative of the strong presence and reputation our facility has for delivering exemplary care for substance use disorder patients in East Tennessee.
“We continue to increase our referral sources and believe we will have served 10,000 patient care days by year end 2025 since inception. We look forward to providing care for more residents in the area and are looking to expand our footprint to facilitate an increasing demand for our services.”
FOXO CEO Seamus Lagan, further added, “we are pleased with our investment in Myrtle and how it has ramped up operations and made a significant impact in the rural communities Myrtle serves. We look forward to expanding Myrtle into additional locations and increasing the revenues this subsidiary contributes to FOXO.”
FOXO shares began Tuesday up 82 cents, or 129.5%, to $1.46.
