FORT WORTH, Texas, Feb. 1 /PRNewswire-FirstCall/ -- Wound Management Technologies, Inc. (OTC Bulletin Board: WNDM) announced today that it has completed the acquisition of secure data and messaging provider, Secure eHealth, LLC, along with certain other technology assets from VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) as previously announced in the January 11 press release. In addition to the acquisition of Secure eHealth, Wound Management has also received all of the intellectual property assets of the real-time prescription drug monitoring business conducted by VHGI subsidiary, VPS Holdings. 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 Debbie Jenkins-Hutchinson, Wound Management Technologies President, "The completion of this acquisition is a key milestone in the execution of our strategy for this year by expanding our reach into the technology segment of the healthcare space." Jenkins continues, "I am especially excited to be working directly with Secure eHealth. They are a perfect fit for us and with their existing relationships and our anticipated expansion we can build tremendous value for the company."
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. "I look forward to working with Robert on the expansion of Wound Management's technology initiatives. His experience and understanding of the national healthcare infrastructure will be a tremendous asset in the growth of the company," continued Jenkins-Hutchinson. Robert has 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 honored to be a part of it."
For Wound Management Technologies Shareholder Information please call 954-357-0614 or go to http://www.woundmanagementtechnologies.com
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, advanced biotechnology solutions and technology applications to secure healthcare data delivery and messaging. The Company is following the lead of NASDAQ Biotech Stock INDEX leaders such as Celgene http://www.celgene.com, Geron http://www.geron.com, and Human Genome Sciences http://www.hgsi.com by working to leverage its existing technology and infrastructure to develop opportunities within the International Biotechnology and Genetic Engineering fields. WNDM also has an interest in Cancer Treatment. For more information on the Company please visit http://www.woundmanagementtechnologies.com
Safe Harbor Statement:
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 Wound Management Technologies, Inc.
|SOURCE Wound Management Technologies, Inc.|
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