LEXINGTON, Ky., Aug. 17 /PRNewswire-FirstCall/ -- VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) announced it has received a payment of $100,000 for interest and restructuring fees under the terms of its January 15, 2009 loan restructuring with Private Access, Inc. Concurrently with the receipt of the payment, VHGI agreed to revise the terms of its $1,500,000 note with Private Access to extend the maturity date from January 15, 2011 until July 31, 2013. The revised note also includes an enhanced conversion premium in the event that the note is converted to equity after January 15, 2011.

Additionally, VHGI agreed to modify its right of first refusal to purchase new securities in Private Access until its note is paid in full to create pro rata rights with other note holders of Private Access and continue to serve as collateral agent for the collateral pledged as security by Private Access to VHGI and other secured parties.

About VirtualHealth Technologies, Inc.

VirtualHealth Technologies, Inc. is committed to being the leader in the development and distribution of next generation solutions that connect healthcare providers to the rest of their community securely and efficiently. VirtualHealth's foundation is based on years of experience in providing highly sophisticated technology solutions to its existing medical customers and has branched out to include the pharmaceutical industry, as well as State and Federal Regulatory Agencies. VirtualHealth Technologies, Inc. is headquartered in Lexington, Kentucky, with offices in Texas, Georgia and Florida. For more information, visit www.virtualhealthtechnologies.com

About Private Access

Private Access, Inc. is making it safe for sensitive personal information such as medical records to be accessible over the Internet. We accomplish this with technology that allows each person to grant private access to all or selected parts of their confidential personal information to doctors, family members, researchers and others based on their particular needs and interests. Our people, technology platform, and applications we build are dedicated to empowering individuals to improve the care they receive, accelerate the discovery of new treatments for diseases and chronic illnesses that affect them or others they care about, and reduce health care costs for their families and the nation. Founded in late 2006, shortly after issuance of its core patent, Private Access is headquartered in Irvine, California. For more information, visit www.privateaccess.com

This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. While these statements reflect the Company's best current judgment, they are subject to risks and uncertainties. Actual results may differ significantly from projected results due to a number of factors, including, but not limited to assumptions, beliefs and opinions relating to the business and growth strategy of VirtualHealth Technologies, Inc. and its wholly owned subsidiaries Verified Prescription Safeguards, Inc., VPS Holding, LLC, Secure eHealth, L.L.C., Medical Office Software, Inc. and implementation thereof, based upon the Company's interpretation and analysis of financial and market conditions, the decisions of businesses with whom the Company is either engaged in business with or negotiating, healthcare industry trends and management's ability to successfully finance, develop, market, sell and implement its e-commerce and internet solutions, clinical and financial e-transaction services and software applications to physicians, pharmacies, governmental agencies, laboratories, insurance companies, HMOs, and payers. These factors and other risk factors are more fully discussed in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any intent or obligation to update any forward-looking statements.

    Contact:  Shareholder Relations
    VirtualHealth Technologies, Inc.
    325 West Main Street, Suite 240
    Lexington, KY 40507
    (859) 455-9255
    Email: Shareholder.Relations@virtualhealthtechnologies.com
    Website: www.virtualhealthtechnologies.com

SOURCE VirtualHealth Technologies, Inc.

Back to top

RELATED LINKS
http://www.virtualhealthtechnologies.com