LOS ANGELES, CA – MMRGlobal, Inc. (OTCBB: MMRF) (“MMR”), a leading provider of Personal Health Records (“PHR”), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced that the Company has received another patent. United States Patent No. 8,121,855 entitled “Method and System for Providing Online Medical Records” further expands the protection for the Company’s technology related to online Personal Health Records and document imaging and filing solutions. The patented methods are embodied by the Company’s solutions, including the storage, management of, and emergency access to health records and other important documents. This is the third in a series of patents recently announced by the Company.
The latest patent specifically includes claims to automatically determine a proper patient PHRaccount so that an individual fax number is not needed. Additional functionality includes accessing and collecting personal health records and data associated with a patient. The solution also enables authorizations to receive protected health information to be automatically kept on file so that records can be added to a patient’s PHR as they are created in the future. This process simplifies what the patient needs to do to manage the health records for themselves and their family. The newest patent also provides for patients to receive voice communications messages from healthcare providers through their PHR account. The Company also plans on offering patented Personal Pet Records through Dancing Paws (www.dancingpaws.com).
“We are currently exhibiting at HIMSS 2012, the largest and most important health IT conference and exhibition in the world, showcasing our MyMedicalRecords Personal Health Record products and services,” said Robert H. Lorsch, MMRGlobal Chairman and CEO. “The Company’s health IT and biotech patents represent significant value to the Company’s shareholders as the national mandate that Americans have access to an electronic Personal Health Record by 2014 under the HITECH Act approaches. We are already scheduled to receive substantial licensing revenues from our intellectual property rights.”
According to a Jan 20, 2012 report issued by The MichaelBass Group, an investment banking and strategic advisory services firm focused on health IT, the patents owned by MyMedicalRecords, Inc., the Company’s wholly owned-subsidiary, are valued at $300 million to as much as $800 million. The report, available athttp://michaelbass.com/PDF/JAN20MMRF.pdf, cites the market for Personal Health Records at $19 billion and focuses on the patents issued and pending in connection with a “Method and System for Providing Online Medical Records” and a “Method and System for Providing Online Records.” The patents cover numerous claims involving the provision of Personal Health Records and other health information and document management systems and technologies. The patents also address the management of paper and other information contained in a Personal Health Record and deal with the fact that while doctors are migrating to Electronic Medical Records, the average physician still receives an average of 1,033 faxes per month of patient information.
The Company’s growing portfolio of health IT patents also includes those already issued to MMR in Australia and Singapore and others pending in countries around the world. These patents and other pending patent applications will be utilized in the Company’s suite ofPersonal Health Record and professional document management and imaging systems and MyEsafeDepositBox (www.myesafevideos.com) products and services.
MMRGlobal also owns a significant portfolio of biotech assets, which were acquired as a result of its reverse merger with Favrille, Inc., a San Diego biotech company, in January 2009. The Company spent more than $140 million on the development of a portfolio of biotech assets and related patents including the FavId® idiotype vaccine that was the Company’s lead product candidate for the treatment of B-cell Non-Hodgkin’s Lymphoma and also panels of anti-CD20 antibodies. Over the last several years, MMR has been working to maximize the value of both its health IT and biotech intellectual property portfolios, which are already the subject of substantial license agreements.
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (“MMR”), 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, 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 in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. 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. The MichaelBass Group has been retained by the Company for investment banking services, valuations and M&A transactions. To learn more about MMRGlobal, Inc. and its products, visit www.mmrglobal.com.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature, whether or not such statement relates directly to the Company’s 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,” “offer,” “development,” “if,” “negotiate,” “when,” “begun,” “believe,” “achieve,” “will,” “estimate,” “expect,” “maintain,” “plan,” and “continue,” or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the prosecution of our patents; licensing, defending, protecting and maximizing the value of our biotechnology and health information technology intellectual property; valuation, guidance and projections provided by The MichaelBass Group; the risk the Company’s products are not adopted or viewed favorably by the healthcare community; 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; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product introductions; ability to establish and maintain strategic relationships; relationships with licensees; competitive product offerings and promotions; changes in government laws and regulations and future changes in tax legislation and initiatives in the healthcare industry; undetected errors in our products; possibility of interruption at our data centers; risks related to third party vendors; risks related to obtaining and integrating third-party licensed technology; acceptance of the Company’s marketing and promotional campaigns; risks related to a security breach by third parties; risks associated with recruitment and retention of key personnel; 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. Additionally, we are a developing early-stage company and many variables can affect revenues and/or projections, including factors out of our control. The Company is providing this information as of the date of this release and, except as required by 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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