LEXINGTON, Ky.,--VirtualHealth Technologies, Inc.(BULLETIN BOARD: VHGI) has completed the sale of secure data and messaging provider, Secure eHealth, LLC, along with certain other technology assets to Wound Management Technologies, Inc. (BULLETIN BOARD: WNDM) as announced on January 11th. 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 was named president of Secure eHealth, LLC
For information: Virtual Health Technologies or VHGI Gold
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