LOS ANGELES, CA -- (Marketwire) -- 02/11/13 -- MMRGlobal, Inc. (OTCQB: MMRF) ("MMR") and Fairway Physicians Insurance Company, RRG ("Fairway") jointly announced today that MMR has agreed to provide Fairway the ability to offer hospital malpractice insurance clients a prepaid license for the use of its MyMedicalRecords, Inc. Patent Portfolio. MyMedicalRecords, Inc., a wholly owned subsidiary of MMR, has an extensive portfolio of healthcare IT patents, which includes seven U.S. patents: Nos. 8,301,466; 8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; and 8,321,240 (the "MMR Patent Portfolio"). The MMR Patent Portfolio includes nearly 400 claims as well as additional applications and continuation applications. The patents involve inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems.
According to David C. Thorson, CEO of Fairway, "We are committed to providing the best customer service to our hospital clients and protecting them against all known risks. We have reviewed the MMR Patent Portfolio and believe the patents to be a potentially material risk to our hospital clients. By paying license fees on behalf of our insureds we eliminate that risk."
MMR also has patents and other pending applications in countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Japan, Canada, Hong Kong, South Korea, Israel, and European nations.
Fairway is a doctor-owned insurance company selling medical malpractice insurance and is approved nationwide. Additionally, Fairway and its affiliates reach more than 200 hospitals throughout the U.S. Fairway will offer a program whereby it will prepay MMR for a license to the MMR Patent Portfolio for their hospital malpractice insurance clients. David Thorson is also on the on the Board of Prime Healthcare, owner of 26 hospitals.
Since 2003, Fairway Physicians Insurance Company, RRG has provided medical malpractice liability insurance to protect hospitals and physicians at an affordable and responsible cost. Fairway allows its members to practice medicine with the security of having the right kind of coverage. Fairway is reinsured by A-rated A.M. Best companies including AIG and Lloyd's Syndicates. Fairway is regulated by the District of Columbia Department of Insurance, and Registered with National Association of Insurance Commissioners, #11840.
Fairway provides quality medical malpractice insurance with personalized service and a common sense approach to claims resolution. Fairway provides innovative and intelligent medical liability insurance that increases patient safety and satisfaction, reduces your liability risk, and enhances the quality of your practice. Fairway believes that your insurance carrier should be as progressive as your practice. Fairway's mission is to protect your practice and proactively defend your reputation. Our methods challenge the status quo by managing claims equitably and expeditiously. www.fairwayphysicians.com.
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, retail pharmacies, 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. 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, whether or not such statement relates directly to the Patent License Agreement with Fairway, and including, without limitation, intellectual property licenses, potential intellectual property enforcement actions, infringement claims or litigation, and 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 and 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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