LEXINGTON, Ky., Feb. 1 /PRNewswire-FirstCall/ -- VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) announced today that it has completed the sale of secure data and messaging provider, Secure eHealth, LLC, along with certain other technology assets to Wound Management Technologies, Inc. (OTC Bulletin Board: WNDM) as previously announced in the January 11 press release. In addition to the sale of Secure eHealth, VHGI has also transferred all of the intellectual property assets of the real-time prescription drug monitoring business conducted by its subsidiary, VPS Holdings, LLC to Wound Management. In addition, VHGI transferred to Wound Management its interest in a convertible note issued by Private Access, Inc., along with related agreements . Private Access is the Irvine based innovator in privacy-enhanced search technology and licensee of Secure eHealth’s System Tray Notifier. VHGI will retain its existing ownership interest in Private Access. Terms of the sale include $100,000 in cash, a note for $400,000, and a three-year 10% royalty payable by WNDM and its subsidiaries to VHGI for sales of products containing the Veriscrip Technology.
Wound Care Innovations, a WNDM subsidiary, had been licensing the Cifra solution from Secure eHealth and had been using the highly secure messaging system, document courier and database to share and compile information for ongoing evidence based case studies on its patented collagen CellerateRx® products for treating diabetic wounds. According to Jim Renfro, President of VHGI, "The completion of this sale now clears the way for us to begin focusing on the mining operations at Treasure Gulch and provides us with the capital to begin production."
Robert Tapales Named President of Secure eHealth, LLC
The company also announced that Executive VP of VirtualHealth Technologies, Robert Tapales, has been appointed President of Secure eHealth, effective immediately. He will manage the transition and integration of the technology divisions within Wound Management. "We are pleased that Robert has agreed to join Wound Management to lead their technology initiatives, his familiarity and experience with the products and relationships with the customers will become an integral part in the growth of that company, we wish him only the greatest success and offer our full support of his decision," continued Renfro. Robert served as Executive VP for VHGI since 2008 and prior to that as COO of several practice management companies and Veriscrip where he led the implementation of the nation's first real-time prescription drug monitoring solution. Robert's healthcare background spans over two decades to include executive management with both clinical and technical experience. Robert has also aided in the introduction of several pieces of key legislation involving prescription drug monitoring and healthcare technology data sharing. When asked about his appointment, Robert Tapales was quoted as saying, "This opportunity could not have come at a better time for Secure eHealth. With the present surge of interest in collaborative healthcare, cloud computing and data sharing everything revolves around the securing of critical information. This is where we excel and I am absolutely excited to be able to be a part of it."
For VHGI Shareholder Information please call 859-514-6982.
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining Industry and intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures. Investors are invited to obtain information concerning our operations at http://www.virtualhealthtechnologies.com or http://www.vhgigold.com or by calling shareholder relations at 859-514-6982.
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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 and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by 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, contingencies 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, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
SOURCE VirtualHealth Technologies, Inc.
|SOURCE VirtualHealth Technologies, Inc.|
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