LOS ANGELES, CA -- (Marketwire) -- 10/31/12 -- MMRGlobal, Inc. (OTCQB: MMRF) (the "Company" or "MMR") today announced that less than one month before scheduling of court-ordered arbitration proceedings against Surgery Center Management, LLC ("SCM"), the United States Patent and Trademark Office has issued another health information technology patent to MMR. The Company is in its second year of a $30 million license agreement with SCM for which the Company claims a minimum of $10 million is now due. Ted Ward of Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP ("Liner Law"), who represents the Company on patent licensing and infringement matters, is in the process of contacting numerous hospitals and other healthcare professionals regarding the enforcement of the Company's intellectual property rights and the opportunity to license the technology.
The Company also announced that Mr. Ward at Liner Law has been substituted into and taken over the SCM case. "The Company has a written and executed agreement with SCM, the SCM Settlement and Patent License Agreement (the "SCM License"), that is fully integrated and provides that SCM is to pay the Company $30 million, $5 million per year. We fully expect the Company to prevail in this matter. Further, because SCM has breached the terms of the SCM License Agreement, the Company will also protect its rights in Federal Court by pursuing claims for patent infringement against SCM," said Mr. Ward.
MMR received U.S. Patent No. 8,301,466 entitled "Method and System for Providing Online Records" issued on October 30, 2012. The patent is directed toward methods for providing users with the ability to access and collect health records. The issued patent expands the scope of the Company's portfolio and is of relevance to numerous offerings which enable the exchange of health records between healthcare providers and other users in a secure and private manner. The patent comes in advance of the Meaningful Use requirement that patients have online access to their protected health information through a Personal Health Record or other form of patient portal by 2014. The Company believes that this patent makes it difficult for eligible healthcare professionals to fully qualify for full incentives under the HITECH Act because one of the core requirements is to provide patients access to their personal health information through a Web-based portal. Accordingly, this patent could prevent EMR and PHR vendors from allowing patients access to personal health information without a license from MMR.
The Company is contacting hundreds of potential licensees each week and is already in the process of signing several license agreements. The Company believes the license agreements will generate immediate sales and revenues to MMR. The MMR health IT patent portfolio has significant value to the Company and its shareholders as foundational industry patents, as does the Company's global portfolio of biotech patents which have already been licensed under the terms of a $13 million dollar license agreement.
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