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OTCBB-VHGI Announces LOI to Sell Certain Assets for $10 Million Cash/Stock to WNDM; With Stock Dividend to be Distributed to Shareholders in 2010
Date:11/5/2009

LEXINGTON, Ky., Nov. 5 /PRNewswire-FirstCall/ -- Virtual Health Technologies, Inc. (OTC Bulletin Board: VHGI) announced today that it has entered into a Letter of Intent to sell all health care related assets to Wound Management Technologies, Inc. (WNDM). The deal provides for VHGI to be paid $1,000,000 in cash and debt, 4,000,000 shares of WNDM stock and a royalty agreement for continued revenues to VHGI. WNDM closed at $2.00 per share on 11/4/09 and VHGI closed at $0.27 per share on 11/4/09. VHGI intends to retain the cash and debt portion of the consideration for working capital purposes, and intends to distribute the WNDM stock to its shareholders as a dividend in 2010, subject to completion and effectiveness of a re-sale registration statement to be filed by WNDM in 2010.

"VHGI will be selling Medical Office Software (MOS) Inc., Secure eHealth LLC, and Veriscrip technology to WNDM. VHGI's technology plus WNDM's core sales and development network greatly complement each other and equals a win for both companies," stated Jim Renfro, President of VHGI. "We are confident that this will benefit our shareholders tremendously, as WNDM plans to leverage the technology to focus on the U.S. Government Healthcare Stimulus initiative. Our shareholders will realize a significant dividend in WNDM shares, yet still maintain their ownership of VHGI stock which is scheduled to receive continued royalties from the technology revenues. VHGI shareholders will continue to participate in benefits of the divisions' success, but at an accelerated timeline due to WNDM's mature technology infrastructure."

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. Closing is anticipated to be on or before December 31, 2009. For VHGI Sharehold
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SOURCE VirtualHealth Technologies, Inc.
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