iTonic Holdings (formerly Pheton Holdings) operates primarily through Beijing Feitian, a small Chinese healthcare software company focused on brachytherapy treatment planning. Brachytherapy is a form of internal radiation therapy in which radioactive seeds are implanted directly into or near a tumor. Beijing Feitian's core product is FTTPS (Feitian Treatment Planning System), a software platform that helps oncologists plan, execute, and verify radioactive seed implantation procedures by importing CT, MRI, or ultrasound images and calculating optimal seed placement. FTTPS is installed across 233 systems in 231 hospitals spanning 27 provinces in China. Beijing Feitian also sells physical medical supplies used alongside FTTPS, including 3D-printed tumor positioning molds, seed implant needles, and workstations — sourced from third-party suppliers and resold to hospitals. Beijing Feitian sells FTTPS as a perpetual license bundled with hardware and installation services, recognizing revenue on a milestone basis tied to delivery and acceptance. The company does not manufacture anything itself; software development is outsourced and all physical products are third-party sourced. Beyond Beijing Feitian, iTonic Holdings has made two early-stage acquisitions: iTonic Corporation (51% owned), a U.S. development-stage company building an AI-powered voice health companion for elderly patients, and a 30% stake in Geri-Safe, which has no material operations. Neither contributes to current revenue. The company recently rebranded to iTonic Holdings and changed its Nasdaq ticker to "ITOC," signaling a strategic shift toward the iTonic platform vision.