LOS ANGELES, CA -- (Marketwired) -- 04/24/13 -- MMRGlobal, Inc. (OTCQB: MMRF) ("MMR") today announced that Unisoft Group/Unis-Tonghe Technology (Zhengzhou) Co., Ltd. (Unis) Vice President and Chairman Luo Jianhui is scheduled to arrive in Los Angeles this Sunday for meetings with MMRGlobal CEO Robert H. Lorsch. Unis and MMR entered into a final definitive agreement in 2011 to form Unis Tonghe MMR International Health Management Service Co., Ltd. The Joint Venture was formally submitted for approval to the Chinese government in 2011 after which the new company received its Articles of Association and licenses in 2012 to operate in China through 2042. The primary focus of the two-day meeting will be to review the current status of the Electronic Medical Records business in China, focusing on how the Joint Venture can exploit MMR's patented Personal Health Records technologies under license to the JV. Health IT is part of a significant set of mandated Chinese Government regulations and initiatives which include financial incentives that are similar to those in the U.S. and could help drive PHR revenues to the Unis-Tonghe MMR JV.
The two companies are also in the process of finalizing a new design for a recently announced Henan government medical project which plans on using a Chinese version of the MMR Personal Health Record provisioned through the Joint Venture. Working with an MMR development team, the two companies are working on a custom-branded Personal Health Record designed to meet recent requirements of the Henan Province project including recently announced MMR features and benefits not previously contemplated for China. These include two-way connectivity with any EMR or EHR system in hospitals and clinics and also laboratory reporting systems as well as an integrated HL7 interface and the ability to populate data directly to the patient including lab test results, medication lists and other discrete data. The two companies are also discussing a separate venture where they would jointly sell to the global Chinese market wherever MMR holds its patents. Mr. Luo will be staying at Mr. Lorsch's Beverly Hills residence during his visit.
"Both the U.S. and China are benefiting from the global phenomenon in healthcare," said Lorsch. "China is working hard to build complete healthcare solutions, upgrade hospitals and convert to digitized recordkeeping so they have greater capability to track and predict the health needs of its citizens. We are excited by Mr. Luo's visit next week and look forward to discussing ways to ramp up sales and installations of our suite of Personal Health Record products and services as part of Unis' efforts to build Electronic Medical Record systems for professionals. Clearly, the Chinese government is committed to establishing a healthcare system that utilizes the latest technologies to improve patient care and reduce costs."
Through its business license with the Chinese Government, the joint venture is chartered to develop medical information management software, medical information technology software, health records management systems, and provision related services, including the Company's Personal Health Record systems. The business is allowed to offer its products and services to the Chinese government, hospitals, healthcare facilities and to the general public.
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 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 Unis-Tonghe MMR Joint Venture, 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. 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, the risk the Company's products are not adopted or viewed favorably by the healthcare community in the U.S. and internationally; business prospects, results of operations or financial condition; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product introductions; ability to establish and maintain strategic relationships and partnerships; relationships with licensees; competitive product offerings and promotions; changes in government laws and regulations and future changes in tax legislation and initiatives in the healthcare industry; undetected errors in our products; 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; 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; 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 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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