Innovative MedTech Announces Creation of Advisory Board, with Ronald Schreiber (a Special Partner in SBNY and Former Partner in SoftBank Capital), as its First Advisor

Rhea-AI Summary

Innovative MedTech has established an external advisory board aimed at fostering growth and innovation within the company. The first appointee, Ronald Schreiber, a Special Partner at SBNY, brings extensive experience from his tenure in venture capital and previous leadership roles. Michael Friedman, the company president, emphasizes the board's potential to enhance strategic direction and accelerate development efforts, particularly in serving under-served communities. The new advisory structure aims to attract further experienced leaders across various sectors.

Positive

• The creation of an external advisory board may drive growth and innovation.
• Appointment of Ronald Schreiber brings valuable experience in finance and technology.
• Board is expected to strengthen leadership and strategic direction.

Negative

• None.

Inaugural Board Includes Prominent Business and Technology Executive

BLUE ISLAND, Ill., May 02, 2022 (GLOBE NEWSWIRE) -- Innovative MedTech, Inc. (the “Company”) (OTC: IMTH), a provider of health and wellness services, today announced the creation of an external advisory board (the “Board”) comprised of an initial thought leader in finance and technology, to provide advice and guidance to facilitate growth and innovation at the Company.

The Company also announced that its first advisor appointed to the Board is Ronald Schreiber, a Special Partner in SBNY (SoftBank New York), a venture capital firm.

“The Company is incredibly proud and honored to partner with such a highly-respected leader in his field,” said Michael Friedman, President of the Company. “We believe that as we build our Board, we will find leaders like Mr. Schreiber who have the depth of experience, vision and valuable deal sourcing networks to support our team as we continue to innovate and adapt to changing market needs. We believe that our Board members can bring their years of experience in their respective industries, and challenge our thinking in new ways, as we continue to strive to be an innovator.”

Mr. Friedman continued, “I am excited about the opportunity ahead of us, especially with our new Board. I believe they will play a key role in accelerating our innovation plans and propelling our growth strategy forward. We are looking to inviting other prominent thought leaders with experience in different sectors onto our Board.”

Mr. Schreiber said, “I am very interested in the mission of Innovative MedTech, to serve the under-served communities. Developing services that have significant benefits is important and is something that I feel very strongly about and where I am eager to contribute my time and energy.   I look forward to advancing the mission of IMTH to the best of my abilities.” 

Mr. Schreiber was one of the sellers of RX Vitality, Inc., which the Company acquired on or about April 28, 2022.

Ronald Schreiber

Mr. Schreiber is a Special Partner of SBNY (SoftBank New York), a Venture Capital Firm.   Mr. Schreiber was also a partner at SoftBank Capital prior to SBNY and has been a Partner for the early stage investing team at SoftBank since 1999.   Mr. Schreiber was co-CEO and Chairman of Softbank Services Group which is now SITEL Worldwide.   Mr. Schreiber was the founder and CEO of Software Distribution Services, which today is Ingram Micro. Mr. Schreiber serves as Co-Managing Partner of Z80 Labs, a Technology Accelerator Fund and also sits on the 43North Foundation board. Mr. Schreiber serves on the boards of many to the portfolio companies of the various investment funds and early stage incubator activities.

About Innovative MedTech, Inc.

Innovative MedTech, Inc. is a provider of health and wellness services, and has two divisions: RX Vitality digital wallet and health care app under development, and its wholly owned subsidiary SarahCare, an adult day care center franchisor with 2 corporate owned centers and 26 franchise locations across the United States. SarahCare offers seniors daytime care and activities ranging from exercise and medical needs daily to nursing care and salon services. For more information, please visit: https://innovativemedtechinc.com, and https://sarahcare.com.

Safe Harbor Statement

Statements in this press release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and are not guarantees of future performance and are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and are subject to change at any time. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify, develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. These and other important factors may cause the Company’s actual results, performance, or achievements to differ materially from any future results, performance, achievements or plans expressed or implied by these forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media inquiries:

Michael Friedman
708-925-9424
ir@innovativemedtechinc.com

FAQ

What is the purpose of the newly formed advisory board for Innovative MedTech (IMTH)?

The advisory board aims to provide guidance and support to enhance growth and innovation within Innovative MedTech.

Who is Ronald Schreiber and what role does he play in Innovative MedTech?

Ronald Schreiber is a Special Partner at SBNY and the first appointee to the advisory board, bringing extensive experience to aid the company's mission.

When was the advisory board for Innovative MedTech announced?

The advisory board was announced on May 2, 2022.

How might the advisory board impact Innovative MedTech's growth strategy?

The advisory board is expected to accelerate innovation plans and propel the company's growth strategy forward.