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.
The Liner law firm is also representing the Company in the collection of 30 million dollars deriving from its first HIT patent portfolio license. Based on recent events, the Company is confident it will prevail in enforcement of the agreement.
MMR began applying for its patents in 2005. After more than seven years of effort and the expenditure of millions of dollars in technology on behalf of our shareholders, the Company's bankers and analysts believe the licensing of our health IT patent portfolio could represent substantial ongoing revenue to the Company.
Our patent portfolio also includes numerous other issued patents and pending applications in the U.S. and countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Canada, Hong Kong, Japan, South Korea, Israel and European nations, giving MMR one of the largest proprietary footprints globally.
Very truly yours,
Robert H. Lorsch
Chairman & Chief Executive Officer
About MMRGlobal, Inc.
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, 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. 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, potential intellectual property enforcement actions, infringement claims, litigation or licenses, 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 of intellectual property enforcement actions, infringement claims, litigation or licensing transactions, 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. 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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