Innovative MedTech Inc. acquired Vitality RX, Inc. from VC Bin, LLC, Webb Media, LLC, Melides Capital, LLC, Ronald Schreiber, and Dovner Holdings, LLC $16.5 million.
April 28, 2022
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Innovative MedTech Inc. (OTCPK:IMTH) entered into an Agreement for Share Exchange to acquire Vitality RX, Inc. from VC Bin, LLC, Webb Media, LLC, Melides Capital, LLC, Ronald Schreiber, and Dovner Holdings, LLC on April 26, 2022. Innovative MedTech will acquire 10,500,000 shares of common stock of Vitality RX, Inc., in consideration of the issuance by the company to the Sellers of 5,500,000 shares of Innovative common stock, and 50,000 shares of Series A Convertible Preferred Stock (which preferred stock is convertible into 5,000,000 shares of common stock). The Board of Directors of buyer and sellers have each approved the proposed transaction.
Innovative MedTech Inc. (OTCPK:IMTH) completed the acquisition of Vitality RX, Inc. from VC Bin, LLC, Webb Media, LLC, Melides Capital, LLC, Ronald Schreiber, and Dovner Holdings, LLC for $16.5 million on April 28, 2022.
Innovative MedTech, Inc. is a provider of health and wellness services. The Company operates two divisions: the RX Vitality digital wallet and health care app. Its wholly owned subsidiary is SarahCare, which is an adult day care center franchisor with 26 centers (two corporate owned centers and 24 franchise locations) located in 13 states across the United States. SarahCare offers seniors daytime care and activities focusing on meeting their physical and medical needs on a daily basis and ranging from nursing care to salon services and providing meals, to offering engaging activities to allow them to continue to lead active and engaged lives. The RX Vitality digital healthcare wallet is being designed to offer 20%-75% pharmaceutical discounts at 65,000 pharmacies across the United States, including Walgreens and CVS. In addition, the Company plans to offer health and wellness discounts at 500+ online merchants, as well as earning points on its Loyalty Program.
Innovative MedTech Inc. acquired Vitality RX, Inc. from VC Bin, LLC, Webb Media, LLC, Melides Capital, LLC, Ronald Schreiber, and Dovner Holdings, LLC $16.5 million.