QHR signs agreement to acquire EMIS assets

QHR Technologies Inc. ("QHR" or the "Company") (TSXV: QHR) today announced that the Company has signed an Asset Purchase Agreement ("APA") to acquire the assets of EMIS Inc. ("EMIS Canada") a 100% subsidiary of Egton Medical Information Systems Limited based in Leeds, UK ("EMIS") and part of EMIS Group plc ("EMIS Group"). The purchase is subject to the completion and delivery of various aspects of the APA definitive agreement and to normal closing conditions which are expected to be completed effective April 30, 2011.

EMIS is the largest EMR vendor in the UK with over 55% of the UK GP market. EMIS Canada launched its entry into the Canadian EMR market in 2005.  After careful consideration of their Canadian market results, EMIS determined that its Canadian division no longer met the criteria for its future investment strategies.  EMIS has decided to transition the current EMIS Canada client base and staff to QHR for inclusion into QHR's EMR division, Optimed Software Corporation ("Optimed").

EMIS Group, which has been listed for trading on London's AIM exchange since March 2010, formally notified their public market on March 18, 2011 that they were working on a managed Canadian market exit.

QHR has completed similar complex EMR acquisitions, including National Medical Solutions (NMS) of Calgary in 2007 and Clinicare Corporation of Calgary in December 2009.  QHR's EMR subsidiary, Optimed Software Corporation is well versed in servicing physician clients, supporting multiple EMR product offerings and providing a cost effective transition path from acquired products, including the transfer of patients' medical data, to Optimed's industry leading product, Accuro®EMR.

A key factor in EMIS's decision is that QHR has its own Hosting division providing similar services as EMIS Canada with respect to hosting medical records in an ASP environment. QHR's Hosting division, Cloudwerx Data Solutions Inc. operates from Calgary, Alberta and Kelowna, BC.

EMIS Canada is one of five qualified Physician Information Technology Office (PITO) vendors in BC. Optimed will continue to support the EMIS Canada product under the terms of the APA and the PITO Master Standing Agreement until Optimed can gain approval to upgrade the EMIS Canada clients to Accuro®EMR under the technology change provisions of the PITO agreement. Optimed completed a similar process in Ontario as of November 29, 2010, replacing the Clinicare approved product with Accuro®EMR on the OntarioMD list of certified offerings.

Optimed recently added a number of physician clients in BC as a result of BC's Alternative Specialist Funding Program for medical specialists. Optimed excels at the development and implementation services of its multiple jurisdictional product offering and in converting patient data from competitive or acquired systems to our Accuro® product.

With this agreement in place and the staff involved with the EMIS Canada product and services delivery on board, transition to Accuro will be made much more easily.  We welcome the EMIS Canada clients and staff to the QHR family.

As QHR requires a series of approvals for client specific confidential disclosures, the purchase price and other financial details are not being disclosed at this time.  QHR has the financial resources required to complete this transaction in a cost effective manner.

Source: QHR TECHNOLOGIES INC.