Navigation Links
OTCBB-WNDM Announces LOI to Acquire VHGI Assets for $10 Million Cash/Stock

FORT WORTH, Texas, Nov. 5 /PRNewswire-FirstCall/ -- Wound Management Technologies, Inc., (WNDM), announced today that it has entered into a Letter of Intent to purchase all healthcare-related assets of Virtual Health Technologies, Inc. (OTC Bulletin Board: VHGI). The deal provides for VHGI to be paid $1,000,000 in cash and debt, 4,000,000 shares of WNDM and a royalty agreement for revenues generated by WNDM on the Veriscrip technology being acquired from VHGI. WNDM closed at $2.00 per share on 11/4/09 and VHGI closed at $0.27 per share on 11/4/09.

"WNDM will be acquiring Medical Office Software, Inc. (MOS), Secure eHealth, LLC, and the Veriscrip technology from Virtual Health Technologies, Inc.," stated Scott Haire, CEO of WNDM. "These businesses fit well with WNDM's domestic plans to leverage its existing infrastructure to develop opportunities within the Healthcare marketplace, and focus on the U.S. Government healthcare technology Initiative. We are confident that this will add tremendously to our bottom line. WNDM will continue to target major pharmaceutical companies from both a wound care product perspective as well as a medical technology company, and focus on increasing revenues and maximizing shareholder value."

"WNDM will be able to significantly expand its product distribution throughout various medical facilities with the acquisition of an established client base of approximately 1,500 doctors throughout the US currently using our technology. In addition many of these physicians have ongoing relationships with nursing homes which necessitate a need for improved wound care technology. This acquisition translates into the potential for significant increased sales for WNDM's core wound care product line," stated Ken Barnes, President of Medical Office Software.

Debbie Jenkins, Board member of VHGI, states, "As we continue to work with e-health we realize VHGI's technology plus WNDM's core sales and development network greatly complement each other, equaling a win for both companies."

The closing of the above transaction will be conditioned among a number of things, including the execution and delivery of a mutually acceptable definitive purchase agreement and the approval of the Board of Directors of both companies as well as the shareholders of VHGI.

For Wound Management Technologies Shareholder Information please call Ronnie Ambrose at 954-357-0614.

About Wound Management Technologies, Inc.

Wound Management Technologies, Inc. (OTC Bulletin Board: WNDM), with its corporate headquarters in Fort Worth, Texas, and regional offices in Ft. Lauderdale, Florida is a rapidly growing provider of specialty medical products and advanced biotechnology solutions. The Company is leveraging its existing technology and infrastructure to develop opportunities within the International Biotechnology and Genetic Engineering fields. WNDM also believes it is positioned to develop its technology in Cancer Treatment. For more information on the Company please visit or call our shareholder information department at 954-357-0614.

About VirtualHealth Technologies, Inc.

VirtualHealth Technologies, Inc. is committed to being the leader in the development and distribution of next generation solutions that connect healthcare providers to the rest of their community securely and efficiently. VirtualHealth's foundation is based on years of experience in providing highly sophisticated technology solutions to its existing medical customers and has branched out to include the pharmaceutical industry, as well as State and Federal Regulatory Agencies. VirtualHealth Technologies, Inc. is headquartered in Lexington, Kentucky, with offices in Texas, Georgia and Florida. For more information, visit

"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks and uncertainties detailed in the Company's SEC filings. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.

SOURCE Wound Management Technologies, Inc.

SOURCE Wound Management Technologies, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

2. Health Robotics Announces December Launch of the i.v.SOFT(TM) Workflow Engine at ASHP in Las Vegas
3. Sangamo BioSciences Announces Presentation at Merriman Curhan Fords Investor Summit 2009
4. Microfluidics International Corporation Announces Third Quarter 2009 Financial Results
5. Oncothyreon announces webcast of third quarter 2009 financial results conference call
6. Cardium Announces Plans to File FDA 510(k) Application for U.S. Marketing Clearance of ExcellagenXL(TM) Gel for Diabetic, Pressure and Venous Ulcers and Other Topical Wounds
7. Osteotech Announces Third Quarter 2009 Financial Results Release and Conference Call
8. Novavax Announces Release Date of 2009 Third Quarter Financial Results and Investor Conference Call
9. BMP Sunstone Announces November Investor Conference Participation
10. Amicus Therapeutics Announces Third Quarter 2009 Financial Results and Strategic Business Updates
11. Dendreon Announces Webcast Presentations at Upcoming Investor Conferences
Post Your Comments:
(Date:12/1/2015)... ... December 01, 2015 , ... ... talks at SPIE Photonics Europe 2016, the premier research conference in Europe ... event will run 4-7 April 2016 in the Square Brussels Meeting Centre. ...
(Date:12/1/2015)... Vancouver , booth ... features Owen Mumford,s unique Comfort Zone Technology®. --> ... is a touch activated lancet that features Owen Mumford,s ... a leading medical device manufacturer, today unveils a new ... in the US before expanding out to other markets. ...
(Date:12/1/2015)... , Dec. 1, 2015 Today the Allen ... Seattle,s South Lake Union neighborhood, ... of Mercer Street and Westlake Avenue North, the 270,000 ... Allen Institute for Brain Science and the Allen Institute ... philanthropist and founder of the Allen Institute. "We started ...
(Date:12/1/2015)... Mass. , Dec. 1, 2015 Researchers ... the McGovern Institute for Brain Research at MIT have ... that significantly cut down on "off-target" editing errors. The ... in the use of genome editing. Science ... that changing three of the approximately 1,400 amino acids ...
Breaking Biology Technology:
(Date:11/11/2015)... , Nov. 11, 2015   MedNet Solutions , an ... of clinical research, is pleased to announce that it will ... Trials (PCT) event, to be held November 17-19 in ... to view live demonstrations of iMedNet , ... how iMedNet has been able to deliver time ...
(Date:11/9/2015)... Nov. 9, 2015  Synaptics Inc. (NASDAQ: SYNA ... announced broader entry into the automotive market with a ... the pace of consumer electronics human interface innovation. Synaptics, ... ideal for the automotive industry and will be implemented ... Europe , Japan , ...
(Date:10/29/2015)... LA JOLLA, Calif. , Oct. 29, 2015 /PRNewswire-USNewswire/ ... released a new report titled, "DNA Synthesis and Biosecurity: ... how well the Department of Health and Human Services ... was issued in 2010. --> ... advances, but it also has the potential to pose ...
Breaking Biology News(10 mins):