VHGI Holdings, Inc. Announces New Software Agreement for Its Medical Office Software Subsidiary
FORT WORTH, Texas, May 18, 2011 /PRNewswire/ -- VHGI Holdings, Inc. (OTCQB: VHGI) announced today that its subsidiary, Medical Office Software, Inc. (MOS) has finalized an agreement to partner with Medical Office Online to provide Web-based Electronic Health Records and Practice Management solutions to its base of nearly 1100 medical practice clients. The partnership is expected to yield a significant boost in revenue for MOS. "This is a tremendous opportunity for us to finally have software upgrades that fit the models of the typical MOS customer demographic," stated Carolyn Longstreet, MOS President. "The majority of the upgrades that our clients have been presented with were either designed for a much larger environment or were priced beyond the reach of our practices," continued Longstreet.
Douglas Martin, CEO of VHGI Holdings was quoted, "MOS's value has always been and continues to be in the customer base. Many of the customers have been there since the beginning, dating back over 25 years, which is a testament to the service our team has been able to provide." Martin continued, "Now that we have secured a solid partnership to transition our customers into the next era in technology, we will be able to continue fortifying our relationship and not only increase the value of MOS even more but begin generating increased revenue going forward."
Medical Office Online is a 2011-2012 ONC-ATCB certified fully integrated solution which meets the requirements for meaningful use and is therefore eligible for funding through the federal government's ARRA program. As the agreements are finalized in the coming weeks it is expected that the migration of the MOS customers to the new software platform should begin in mid to late June. "We are delighted to partner with MOS and VHGI," stated Vim Anand, CEO of Medical Office Online. "Our continued investment in technology and the close fit between MOS clients and our clients make this a very synergistic partnership. We have every confidence that MOS clients will be able to get the same benefit by upgrading to our product that our current clients enjoy."
About VHGI Holdings, Inc.
VHGI Holdings, Inc. (OTCQB: VHGI) is a diversified company with assets and interests focusing on opportunities within Precious Metal Mining, Energy Resource (Oil and Natural Gas exploration) and Healthcare Technology markets. VHGI Holdings is actively pursuing new opportunities within these industries to maximize shareholder return. It is our goal to increase our revenue streams without adding significantly to our fixed costs through corporate involvement with different performance based sectors of the economy through VHGI Gold LLC, VHGI Energy LLC and Medical Office Software, Inc.
VHGI has recently initiated steps to leverage the company's unique position and corporate resources within the mining, energy development and medical technologies industries and intends to pursue these opportunities through Lease-Purchase, Acquisition, Joint Ventures and other structures.
About Medical Office Online, LLC
Medical Office Online, Inc. is a private company that has been providing practice management and electronic health records to small and medium sized medical practices for over 10 years. Incorporated in St. Louis, MO, Medical Office Online is dedicated solely to providing technological solutions to medical practices. It has established relationships with well known laboratories and clearing houses, enabling it to provide integrated and seamless services to its clients.
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SOURCE VHGI Holdings, Inc.