Pheton Holdings Expands into Home Health Market with iTonic Acquisition

Pheton Holdings Ltd has completed the acquisition of 51% of iTonic Corporation, a US-based integrated home health AI company. The acquisition aligns with Pheton's commitment to enhancing its portfolio in the healthcare technology landscape. The deal involved a stock purchase agreement and the issuance of 4 million newly issued Class A ordinary shares and warrants granting the right to purchase up to 3 million shares. The acquisition marks a transformative milestone for Pheton as it expands its footprint into the US and enters the rapidly growing home health market.