Innovative MedTech, Inc. (OTC:IMTH) has announced a strategic acquisition of certain assets from Ticketbash, a move that signifies the company's shift towards the sports, entertainment, and media sectors. This acquisition leverages Ticketbash's proprietary AI software, aiming to enhance transparency and cost efficiency in the ticket industry. Michael Friedman, CEO of Innovative MedTech, described this as a pivotal step towards integrating AI into sports and entertainment platforms, potentially opening new business models and markets.
The transaction involves a structured payment plan, including an initial cash payment, preferred stock issuance to Ticketbash's owners, and future royalties based on revenue milestones. This not only marks Innovative MedTech's strategic redirection but also underscores the increasing significance of AI in revolutionizing traditional sectors like ticket servicing. In line with its new direction, the company is considering options for its existing healthcare businesses, including the possible sale of its SarahCare subsidiaries and a spin-off of its Oral Thrush product, reflecting a broader trend of businesses embracing technological advancements for growth.
