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 ne
|SOURCE Wound Management Technologies, Inc.|
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