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QHR to Acquire Clinicvault and its Enterprise Class Datacenter

Wednesday, September 17th, 2008

Kelowna, BC, September 17, 2008 - QHR Technologies Inc. ("QHR" or the "Company") (TSX-Venture: QHR) announced today its agreement to acquire 100% of the shares of Clinicvault Inc. (“Clinicvault”), a privately held Calgary based company. The purchase is subject to TSX Venture Exchange approval.

Clinicvault provides data hosting services as an Application Service Provider (“ASP”) to the growing Electronic Medical Records (“EMR”) market. QHR participates in that market through its subsidiary, Optimed Software Corporation, whose EMR system is sold under the Accuro? brand. The acquisition of Clinicvault will enable QHR to seamlessly integrate ASP services into its EMR client service delivery model and will set the Company apart from its competitors. QHR will acquire all the operating assets of Clinicvault including its enterprise class data hosting centre. The management and staff of Clinicvault will continue to operate the company. Consideration for the purchase is 600,000 common shares of QHR, of which 175,000 shares will be released after one year, and the Company assumes $350,000 long-term debt of Clinicvault.

There is a strong trend in the EMR market to provide hosted services to physicians through the ASP delivery model. It reduces physicians’ dependence on IT technical support and it improves security over sensitive patient data. Some Provincial governments are mandating hosted systems if physicians wish to receive government funding for their EMR systems.

In addition to the competitive advantage of providing fully integrated ASP services, the acquisition of Clinicvault will enable QHR to provide other value-added services to physicians such as business continuation services. The acquisition will also provide new opportunities to become a partner with other software providers in the healthcare sector that have systems complementary to QHR’s EMR software, and can benefit from the ASP delivery model.

The purchase of Clinicvault will add approximately $600,000 in annual recurring revenue and will increase QHR’s total annual recurring revenue to approximately $4,500,000.

View full News Release here

© 2008, QHR Technologies Inc.

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