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Innovative MedTech, Inc. (OTC PINK:FRHVD) announced its acquisition of Sarah Adult Day Services, Inc. and Sarah Day Care Centers, Inc. (collectively, SarahCare), enhancing its position in the health and wellness sector for senior adults. This strategic move is backed by a $2 million private investment in public equity (PIPE), granting investors 83% ownership of the company. With 27 centers across 13 states, SarahCare caters to senior citizens' health and recreation needs, contributing to a $4.9 billion adult day care industry projected to grow by 4.4% in 2021.
Innovative MedTech, Inc. (formerly Fresh Harvest Products) has successfully completed a 1-for-10,000 reverse stock split effective March 9, 2021, reducing its outstanding shares from approximately 59 billion to around 5.9 million. The company's stock symbol will change from FRHV to FRHVD for 20 business days before transitioning to IMTH. This rebranding aligns with its new strategy as a diversified provider of health and wellness services. Stockholders with electronic positions will see automatic adjustments, while those holding physical shares can request new certificates.
