VHGI sells Secure eHealth to WNDM

Feb 2 2010

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."