QHR Technologies Inc.

QHR Technologies Inc.

July 10, 2007 08:00 ET

QHR to Acquire 100% of National Medical Services

KELOWNA, BRITISH COLUMBIA--(Marketwire - July 10, 2007) - QHR Technologies Inc. (TSX VENTURE:QHR) -


Mr. Al Hildebrandt, President and CEO of the Company, is pleased to report that the Company has entered into a Letter of Intent ("LOI") with the shareholders of National Medical Software ("National") to purchase 100% of the outstanding common stock of NMS.

In consideration for the purchase QHR proposes to issue 2,000,000 common shares of QHR. The transaction is subject to a complete due diligence review including legal opinions, formal share purchase agreements, financial review, valuation and the approval of the Shareholders of National, the Board of Directors of QHR and the TSX Venture Exchange. There are also other conditions to closing the transaction.

QHR is an emerging player in western Canada in the development of Electronic Medical Records ("EMR") software and services. National has a substantial foothold in the Alberta EMR market, servicing approximately 500 doctors in the province. Further, National's EMR and ASP hosting experience are areas that the Company would like to seamlessly integrate into its operations.

The backbone of the Company's business model is recurring revenue from clients that provides a reliable cash flow for the Company operations. The combination of annual recurring revenue from HR software and Electronic Medical Records software now exceeds $2,850,000 annually. The National transaction if completed will add approximately $600,000 to this figure. This is a strong financial foundation from which to build a growing and prospering organization.

For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company's website, www.QHRtechnologies.com.

On behalf of the Board of Directors

Al Hildebrandt, President & Chief Executive Officer

Legal Notice Regarding Forward Looking Statements

This news release contains "forward looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements included in this news release include that the Company will close the transaction to acquire National and will add approximately $600,000 of annual recurring cash flow from National to the operations of the Company. These statements are subject to risks that may cause the actual results to be materially different from those expressed or implied by such forward looking statements. The transaction may not close for a number of reasons, and even if it does close, National customers may not stay with us as an EMR provider. In addition, the added cash flow may not be adequate to eliminate the potential need to raise additional new equity capital should business levels in 2007 not actually reach projected levels Further risk information on the Company is available in the Company's regulatory filings which can be accesses at www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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