Innovative MedTech (OTC: IMTH) Takes a Big Step Forward to Pioneer the Future of Healthcare With Its Latest Partnership for Innovative Vein Illumination Technology

​​This marks a pivotal moment in medical technology, potentially revolutionizing vein visualization for enhanced patient careBLUE ISLAND, IL – (NewMediaWire) – April 15, 2024 – Innovative MedTech, Inc. (the “Company”) (OTC: IMTH), a provider of health and wellness technology solutions and services, is excited to announce the execution of a distribution agreement (the “Agreement”) with Near Infrared Imaging, Inc. (“NII”) for Vein-Eye Carry, a patent-pending vein illumination technology whichemploys advanced optics and real-time imaging to precisely identify veins, reducing the need for multiple attempts and enhancing procedural accuracy.This Agreement is another milestone for the Company following its mission to license, distribute or acquire leading medical devices and technologies, potentially positioning the Company as a leader in the rapidly growing vein illuminator market.The global vein illuminator market is set for substantial growth, anticipated to grow from $19.74 billion in 2022 to a projected $24.05 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 21.8%. This market’s momentum is anticipated to continue, culminating in a valuation of $53.27 billion by 2027, with a CAGR of 22.0%. (See Research and Markets).The home therapy, home infusion market is projected to grow to $380 billion by 2030 (see Markets and Markets). The Vein-Eye Carry is lightweight and portable and can be successfully carried into a home, up flights of stairs, carried into a clinic nursing home, placed in an ambulance or another emergency medical vehicle. With over 2 billion vein punctures globally each year with failure rate as high as 69% in individual studies (See International Journal of Nursing Studies) vein puncture failure is a substantial adverse patient outcome and costly for healthcare facilities. NII’s technology is expected to decrease the failure rates by eliminating the guesswork associated with traditional vein identification methods, ultimately leading to improved patient outcomes and a more comfortable healthcare experience. Commenting on the significance of this Agreement, Michael Friedman, President of Innovative MedTech stated, “We are excited to distribute NII’s technology as the first medical device in what we expect to be a portfolio of medical devices. This innovative technology has the potential to revolutionize how healthcare professionals perform venous procedures, ultimately improving patient care and streamlining healthcare workflows.”  He continued, “With this strategic distribution agreement in place the Company is poised to deliver state-of-the-art solutions that address the evolving needs of healthcare providers and patients alike. The integration of NII’s technology into the Company’s product lineup reaffirms the Company’s commitment to innovation and excellence in medical devices and technologies.”Michael Feeney, CEO of Near Infrared Imaging, also expressed enthusiasm about the partnership, saying, “We are delighted to collaborate with Innovative MedTech in bringing our Vein Eye Illumination Technology to the forefront of healthcare. This Agreement represents a significant milestone in our mission to advance medical imaging technologies and improve healthcare outcomes worldwide.”The Agreement gives the Company the non-exclusive right to distribute NII’s product(s) with no limitations on the territory. NII’s Vein-Eye Carry is a Class 1, 510-k exempt medical device, is TAA and FAR compliant, and is designed, engineered and manufactured in the U.S.About Innovative MedTech, Inc.Innovative MedTech, Inc. is a provider of medical technology and devices as well as health and wellness services through its wholly owned subsidiary SarahCare, an adult day care center franchisor with two corporate owned centers and twenty-six franchise locations across the U.S. 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/, … 

BlogofInnovation.com