Innovative MedTech Shifts Focus to AI Sports and Entertainment with Ticketbash Acquisition
TL;DR
Innovative MedTech's acquisition of Ticketbash positions it to leverage AI for a competitive edge in the sports and entertainment ticketing industry.
Innovative MedTech acquires Ticketbash's AI software, aiming to enhance ticket industry transparency and efficiency through scalable technology and strategic business model shifts.
This strategic shift by Innovative MedTech into AI-driven ticketing could democratize access to live events, making entertainment more accessible and affordable for all.
Innovative MedTech ventures into AI ticketing with Ticketbash, blending healthcare expertise with entertainment for a futuristic approach to live event access.
Found this article helpful?
Share it with your network and spread the knowledge!
Innovative MedTech, Inc. (OTC:IMTH), traditionally a provider of health and wellness services, has announced a significant strategic shift by acquiring certain assets of Ticketbash, a ticket servicing company with a focus on live events. This move signifies the company's bold entry into the sports, entertainment, and media sectors, leveraging Ticketbash's proprietary AI software designed to enhance transparency and cost efficiency in the ticketing industry.
Michael Friedman, CEO of Innovative MedTech, highlighted the acquisition as a pivotal step towards exploring new growth opportunities in AI sports and entertainment platforms. The company is also considering divesting its healthcare-related subsidiaries, including SarahCare and the Oral Thrush product, to align with its new strategic direction. The integration of Ticketbash's AI technology is expected to open new markets and create innovative business models, with ongoing negotiations for service deals in the sports industry.
The transaction involves an initial cash payment of $1,000,000 to Ticketbash, with additional payments and royalties based on future revenue milestones. This acquisition not only marks a significant transformation for Innovative MedTech but also positions the company at the forefront of applying AI in the ticketing sector, promising to bring about a new era of efficiency and transparency in live event ticketing.
Curated from NewMediaWire
