LOS ANGELES, CA -- (Marketwire) -- 11/08/12 -- MMRGlobal, Inc. (OTCBB: MMRF) (the "Company" or "MMR") today announced that an article appearing in the Election Day issue of the Pittsburgh Business Times reported on MMR's foundational health information technology patents and claims that these could force providers to purchase or license the Company's products, services or intellectual property to receive their share of stimulus monies under the American Recovery and Reinvestment Act. The stimulus bill provided over $19 billion in incentives to health care professionals to encourage adoption of electronic medical records and personal health record systems, with a key component now mandating that Americans have timely online access to their personal health information by 2014.
The article, written by Kris B. Mamula, reported on how Personal Health Records, or "patient portal technology," is the focus of an effort by MMRGlobal to license the Company's IP: "MMRGlobal is in the process of contacting numerous hospitals and other health care professionals regarding the enforcement of the company's intellectual property rights and the opportunity to license the technology."
Lee Kim, a lawyer specializing in patent law and information technology at the Pittsburgh offices of Tucker Arensberg, P.C., said in the article, "Patient portal technology is the new wave of the future. Everybody seems to be jumping on that bandwagon." Kim went on to say that "she was not aware of any local hospitals that have been contacted, but advised administrators not to ignore the letters. Instead, the matter should be referred to legal counsel." (Click Here for story)
According to MMRGlobal CEO Robert H. Lorsch, "It's amazing how this article was published on the day that President Obama was re-elected before anyone knew for certain that he would be. As a result, it appears that health IT and health reform are continuing to move full speed ahead. We believe that MMR has a significant role to play and a tremendous opportunity to leverage patents that are more than seven years in the making to ensure that every American will have a standardized way to access their health information in an easy-to-use, private and secure manner without special hardware or software."
Today, the Company is sponsoring an exclusive, invitation-only seminar on its patented products and services for health care professionals in downtown Harrisburg, Pennsylvania. The seminar will be conducted by Lorsch and hosted by Jonathan Wiesman, Vice President of Nihilent Technologies, Ltd., based in Harrisburg. The seminar will be attended by nursing associations, providers, hospital associations, hospital systems and others in health care representing more than 20,000 employees interacting with millions of patients. The program is part of MMR's effort to educate the market on its suite of personal (MyMedicalRecords) and professional (MMRPro) products and services and answer questions pertaining to the implications of its global patent portfolio. The portfolio includes more than 180 claims pertaining to Personal Health Records and Electronic Medical Records in the United States and also numerous issued patents and pending applications in the U.S. and additional 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.
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, and 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," "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 to 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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