LOS ANGELES, CA -- (Marketwired) -- 05/06/13 -- MMRGlobal, Inc. (OTCQB: MMRF) ("MMR"), a leading provider of Personal Health Records (PHRs) MyEsafeDepositBox storage solutions and MMRPro document management and imaging systems for healthcare professionals, is featured in an updated valuation report following the issuance by the Japan Patent Office of Patent No. 5191895 entitled a "Method and System for Providing Online Medical Records." The Japanese patent, issued on February 8, 2013, increases the valuation by the Michael Bass Research Group by $200 million, from an initial report of $600 million to $1.1 billion, to $800 million to $1.3 billion. The report can be seen at http://michaelbass.com/PDF/Patent_Valuation.pdf. The Japanese patent includes 40 claims relating to accessing health records through a Web site, collecting health records directly from healthcare providers, and managing the records such as by organizing the documents, applying additional password protection, and electronically sending the health records to healthcare providers. The patent is specifically relevant to the market at this time following the launch of the country's "My Hospital Everywhere" Japan Personal Health Record service concept. Additional patent applications are also pending in Japan.
The "My Hospital Everywhere" program is designed to help enable individuals in Japan to receive their own medical and health-related information from medical institutions and to maintain and manage it electronically, which is a significant part of MMR's patented technologies. The implementation of Electronic Medical Records in Japan is a high priority as a result of findings from the aftermath of the March 11, 2011 earthquake and tsunami. The medical system in Japan was overwhelmed with thousands of people in hospitals and doctors' offices with no medical records. As a result, thousands unnecessarily lost their lives, and the cost of care without having information about the patient was significantly increased, making deployment of "My Hospital Everywhere" a national priority.
The value of the Company's patents in Japan is underscored by an interview with Dr. Makoto Aoki in The National Bureau of Asian Research on June 2, 2011. Dr. Aoki, Scientific Executive at Sakura Seiki Co. Ltd., a Japanese company that specializes in the design and manufacturing of medical and laboratory equipment, and a Member of the American College of Physicians, said, "Physicians have had a hard time identifying patients' medications since patients often remember their medications only by their shape or color. Most of the hospitals that patients had attended also lost their medical records as a result of the earthquake or tsunami." MMR's PHR systems include the ability to track and manage a patient's medication data base.
MMR has seven issued U.S. patents as well as additional applications and continuation applications with nearly 400 claims relating to Personal Health Records transmitted via an Internet portal under the heading of "Method and System for Providing Online Medical Records" and "Method and System for Providing Online Records." MMR's patent portfolio also includes numerous other issued patents and pending applications in countries of commercial interest around the world which, in addition to Japan, include Australia, Singapore, New Zealand, Mexico, Canada, Hong Kong, South Korea, Israel, and European nations.
The report by the Michael Bass Research Group also includes the earlier report presenting a comprehensive overview of the U.S. Personal Health Records market, with particular emphasis on MMRGlobal's MyMedicalRecords Health Information Technology Global Patent portfolio. This report includes schedules of the Company's domestic and international MMR patent portfolios, a valuation analysis and summary of conclusions.
The Company's patents also contain claims directed to Web-based services that provide access to and collect health records from service providers, including, but not limited to, retail pharmacies and laboratory systems as well as hospitals, physicians and other healthcare professionals, using email, facsimile, file upload and voice. Certain claims in newly allowed applications also relate to collecting insurance information, appointment and medication reminders and other features that are already included in MMR's MyMedicalRecords.com PHR.
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.
About The Michael Bass Group:
The Michael Bass Group (MBG) (http://michaelbass.com) is an investment banking and strategic advisory services firm focused on healthcare information technology, healthcare IT services, and mobility providers as well as medical devices. MBG tracks and conducts research on over 400 emerging growth companies in the HIT sector. The Michael Bass Research Group also looks at economic, market, industry and company data relevant to the healthcare sector.
All statements in this press release that are not strictly historical in nature, whether or not such statement relates directly to the Michael Bass Research Group valuation reports, and including, without limitation, intellectual property licenses, 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 and future changes in tax legislation and initiatives in the healthcare industry both in the U.S. and internationally; 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, including disclosures about the Company's relationship with the Michael Bass Group since 2009. 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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