LOS ANGELES, CA -- (Marketwire) -- 04/01/13 -- MMRGlobal, Inc. (OTCQB: MMRF) ("MMR"), a leading provider of Personal Health Records ("PHRs"), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced that based on interest in licensing its growing patent portfolio in advance of patient engagement requirements under Stage 2 Meaningful Use to be implemented by January 1, 2014, the Company is expanding its licensing efforts to include additional healthcare professionals, hospitals, ambulatory surgical centers, laboratory systems, pharmacies, mass merchandisers and other vendors and providers while continuing to sell its HIT products and services direct in response to increased interest in the marketplace. Since the founding of MyMedicalRecords in 2005, the Company's patented products and services have grown in value and were the subject of a special report published on January 22, 2013 which concluded that the value of the Company's U.S. HIT patent portfolio could reach between $600 million to $1.1 billion in revenue (http://michaelbass.com/PDF/Patent_Valuation.pdf). Additionally, in January 2009, following the Company's merger with Favrille Inc., MMR acquired a biotech portfolio created at a cost of more than $100 million from which the Company has already signed non-exclusive license agreements for more than $13 million. Management believes that the Company's valuation should include the value of all its intellectual property, similar to other IP-holding companies that have invented and license and sell their IP.
Last week, the Company announced the launch of seamless connectivity between the MyMedicalRecords Personal Health Record and Electronic Medical Record ("EMR") systems in medical clinics starting April 15, 2013. The new features are designed to facilitate two-way connectivity between a MyMedicalRecords PHR and any EMR or laboratory reporting system. Using an HL7 interface, MMR is able to populate data, such as a Continuity of Care Document ("CCD"), directly to the patient as well as lab test results, medication lists and other discrete data directly into a MyMedicalRecords PHR. The system will also be able to push PDFs and other personally managed health information from the patient's confidentially maintained files directly into an EMR or EHR at the total discretion of the patient.
The MMR patent portfolio includes seven U.S. patents: Nos. 8,301,466; 8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; and 8,321,240, as well as additional patents internationally including Australia, Canada, New Zealand, Mexico, Japan and Singapore. The Company also has pending applications in Hong Kong, South Korea, Israel, and European nations. The MMR patent portfolio involves inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-use online Personal Health Records ("PHRs") and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, retail pharmacies, and professional organizations and affinity groups. The MyMedicalRecords PHR enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. MyMedicalRecords is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user's account. The Company's professional offering, MMRPro, is designed to give physicians' offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients through an integrated patient portal. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 antibodies and data and samples from its FavId/Specifid vaccine clinical trials for the treatment of B-Cell Non-Hodgkin's lymphoma. To learn more about MMRGlobal, Inc. visit www.mmrglobal.com. View demos and video tutorials of the Company's products and services at www.mmrtheater.com.
All statements in this press release that are not strictly historical in nature, including, without limitation, intellectual property enforcement actions, infringement claims or litigation, intellectual property licenses, and future performance, management's expectations, beliefs, intentions, estimates or projections, constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words (and their derivations) such as "need," "possibility," "potential," "intend," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," and "continue," or the negative of these words. Actual outcomes and results of operations and the timing of selected events may differ materially from the results predicted, and any reported results should not be considered as an indication of future performance. Such statements are necessarily based on assumptions and estimates and are subject to various risks and uncertainties, including those relating to the possible invalidity of the underlying assumptions and estimates and possible changes or developments in economic, business, industry, market, legal and regulatory circumstances and conditions and actions taken or omitted to be taken by third parties, including customers, suppliers, business partners, potential licensees, competitors and legislative, judicial and other governmental authorities and officials. Factors that could cause or contribute to such differences include, but are not limited to: unexpected outcomes with respect to intellectual property enforcement actions, claims of intellectual property infringement and general intellectual property litigation; our ability to maintain, develop, monetize and protect our patent portfolio for both the Company's health IT and biotechnology intellectual property assets in the U.S. and internationally; the timing of milestone payments in connection with licensing our intellectual property; our ability to establish and maintain strategic relationships; changes in our relationships with our licensees; the risk the Company's products are not adopted or viewed favorably by the healthcare community and consumer retail market; business prospects, results of operations or financial condition; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; the timing and volume of sales and installations; the length of sales cycles and the installation process; the market's acceptance of new product and service introductions; competitive product offerings and promotions; changes in government laws and regulations including the 2009 HITECH Act and changes in Meaningful Use and the 2010 Affordable Care Act; future changes in tax legislation and initiatives in the healthcare industry; undetected errors in our products; the possibility of interruption at our data centers; risks related to third party vendors; risks related to obtaining and integrating third-party licensed technology; risks related to a security breach by third parties; risks associated with recruitment and retention of key personnel; other litigation matters; uncertainties associated with doing business internationally across borders and territories; and additional risks discussed in the Company's filings with the Securities and Exchange Commission, including disclosures about the Company's relationship with the Michael Bass Group since 2009. The Company is providing this information as of the date of this release and, except as required by applicable law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
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