Medical Care Technologies, Inc. Announces Agreement to Acquire Sports Memorabilia Company Infinite Auctions LLC
Press Release | 09/21/2022
$26.1 Billion Sports Memorabilia Market Expected to Climb to $200 Billion by 2032
MESA, AZ / ACCESSWIRE / September 21, 2022 / Medical Care Technologies, Inc. (OTC PINK:MDCE) today announced that it recently entered into an Agreement to acquire 100% of the membership units of sports memorabilia auction house Infinite Auctions LLC. Founded in 2015, Infinite Auctions provides an online platform for memorabilia collectors and professional athletes to consign and sell high valued collectibles in a secure online auction format.
Infinite Auctions specializes in the auctioning of game-worn sports memorabilia, including jerseys, helmets, bats, and other items worn or used by athletes in professional sporting events. Marshall Perkins, the founder of Infinite Auctions, was one of the early pioneers of the photo matching authentication process that is now standard for authenticating high-end sports memorabilia. The company also auctions high-end sports cards, trading cards, fine autographs, Americana, and other valuable antiquities. Infinite Auctions also offers a private sale brokering program that connects sellers and buyers outside of auction for quicker sales.
Mr. Marshall Perkins, CEO of Infinite Auctions and new CEO of MDCE, stated, "This business combination should allow us to take full advantage of one of the fastest growing industries in the world. We have some really exciting new growth initiatives lined up and we look forward to sharing them with our shareholders."
Mr. Carey W Cooley, President of MDCE, stated, "This is a major win for our shareholders. Marshall is one of the most passionate, hard-working men I have ever met. He is also one of the most well-respected figures in the high-end sports memorabilia industry. I am excited that our shareholders get to benefit from his deep knowledge and experience in the sports memorabilia space. I really look forward to working with him to create a memorabilia powerhouse."
With this business combination, MDCE enters the $26 billion sports memorabilia market that is expected to climb to $200 billion by 2032. The acquisition is expected to close in early October 2022, at which time Infinite Auctions will operate as a wholly owned subsidiary of MDCE.
