LOS ANGELES, CA -- (Marketwire) -- 10/15/12 -- MMRGlobal, Inc. (OTCBB: MMRF)
I have received many questions from shareholders, investors and media asking what the MMRGlobal, Inc. (OTCBB: MMRF) patents mean financially to the Company. In the last month, MMR has received two additional Notices of Allowance for health information technology patents, including U.S. Serial No. 13/041,809 and 13/352,026, making a total of five U.S. patents with more than 180 claims still pending. The latest two issuances are most significant in that they cover the exchange of protected health information to and from patients, doctors, pharmacies, insurance providers and other healthcare professionals in forms including, but not limited to, email, text, phone, facsimile and web-based portals. The latest issuance, 13/352,026, was filed on January 17, 2012 and received in less than nine months. The Company has already agreed on terms of a licensing agreement with AccessMyRecords.com that will allow MMR's Personal Health Record to be sold to patients and then invoiced as Administrative and General costs under reimbursed managed care plans to Medicare and Medicaid.
After the latest issuances, MMR believes it holds significant foundational patents entitled "Method and System for Providing Online Medical Records" (the "MMR HIT Patents"), and that the patents are relevant to any provider who transmits Electronic Health Records in that they limit their ability to communicate without infringement. Accordingly, MMR has begun the process of enforcement and licensing of its patent portfolio through the law firm, Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP ("Liner"). Liner has begun a campaign sending 250 letters per week to hospitals, medical groups, pharmacies and other healthcare professionals as part of efforts to license the MMR IP.
Starting in 2014, Meaningful Use requirements mandate patients receive timely online access to their personal health information. The Company believes that the claims in its patent portfolio provide solutions necessary for healthcare providers to meet those requirements. Because the MMR HIT Patents were filed in advance of the relevant Meaningful Use requirements, the Company believes that the its patent portfolio makes it difficult for eligible healthcare professionals to fully qualify for incentives under the HITECH Act without licensing from MMR. Also, because of the government incentives, there will continue to be increasing interest and need by hospitals and physician groups to deploy web-based patient portals that access to medical records -- with expenditures in this area continuing to be in the hundreds of millions of dollars at least.
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