Innovative MedTech Announces SarahCare Subsidiary Receives Coronavirus Relief Funds from State of Ohio

Rhea-AI Summary

Innovative MedTech, Inc. (OTC: IMTH) announced that its subsidiary, SarahCare Adult Day Services, has received $120,000 from the CARES Act funding through Ohio. This support aims to offset costs incurred due to COVID-19, including expenses from temporary closures and enhanced safety standards. Dr. Merle Griff, President of SarahCare, expressed gratitude for the funding, enabling the resumption of operations and ensuring a safe environment for older adults. The company operates 2 unique and 24 franchised locations across the U.S., providing health and wellness services.

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• Received $120,000 in CARES Act funding to aid during COVID-19 pandemic.
• Operations in Ohio have resumed, ensuring care for older adults.

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• None.

BLUE ISLAND, Ill., July 09, 2021 (GLOBE NEWSWIRE) -- Innovative MedTech, Inc. (the "Company") (OTC: IMTH), a provider of health and wellness services, announced today that the Company’s subsidiary SarahCare Adult Day Services has received a portion of CARES (Coronavirus Aid, Relief and Economic Security) Act funding through the State of Ohio, which is disbursing funding to Adult Day Service facilities and Senior Centers impacted by public health orders and increased costs due to the COVID-19 pandemic.

“Our unwavering dedication to the care and well-being of our clients forced our SarahCare centers to temporarily cease operations during the COVID-19 pandemic until such time that we were able to ensure their safety and the individual states where they were located allowed for the resumption of our operations,” said Dr. Merle Griff, President of SarahCare. “We are very grateful to the State of Ohio, which granted us CARES Act funding to help defray some of the costs associated with the temporary closing of our Ohio center, and to the increasing of safety and sanitation standards that were required in association with the pandemic. In the meantime, we are extremely grateful to have resumed operations in Ohio, and continue to offer a supportive, healthy and safe environment for those older adults who benefit from our services.”

SarahCare was granted $120,000 as part of the CARES Act program.

About SarahCare
The Company operates 2 unique and 24 franchised locations in the United States. SarahCare offers seniors daytime care and activities ranging from exercise and medical needs on a daily basis to nursing care and salon services. Those who visit benefit from these services that include specialized dietary menus and engaging social activities allowing them to continue to lead active and enriched lives.

About Innovative MedTech, Inc.
Innovative MedTech, Inc. is based in Blue Island, IL. The Company is a provider of health and wellness services, including SarahCare, an adult day care center provider. 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 funding did Innovative MedTech's subsidiary SarahCare receive?

SarahCare received $120,000 from the CARES Act funding through the State of Ohio.

How has COVID-19 impacted SarahCare Adult Day Services?

COVID-19 forced SarahCare to temporarily cease operations until safety standards were met and allowed by state authorities.

What does Innovative MedTech, Inc. do?

Innovative MedTech provides health and wellness services, including adult day care through its subsidiary SarahCare.

How many locations does SarahCare operate?

SarahCare operates 2 unique and 24 franchised locations in the U.S.

What is the significance of the CARES Act funding for SarahCare?

The CARES Act funding helps defray costs associated with temporary closures and increased safety measures due to COVID-19.