LOS ANGELES, CA — (Marketwired) — 06/24/13 — . (OTCQB: MMRF) (“MMR”) today announced that MMRGlobal CEO Robert H. Lorsch concluded a six day East Coast trip focused on sales and licensing of the Company-s patented health information technology products and services on the heels of an article discussing how legislation and Stage 2 Meaningful Use is kicking PHR usage into high gear and the value of health information technology patents. The article, written by Waco Hoover, CEO of the entitled “,” highlights the growth of the PHR industry and confirms that “patient portals have gained significant attention from healthcare providers as Stage 2 Meaningful Use requires eligible professionals ensure at least 5% of patients view, download or transmit their electronic health records.”
The Company began its trip in Washington, DC where CEO Lorsch and Ted Ward at , patent counsel for MMR, attended meetings with Congressional representatives regarding the need to create programs and initiatives that could drive additional healthcare stimulus dollars to small business enterprises, including small hospitals and product and service vendors. While in Washington, Lorsch and Ward were also guests at the Brazilian Embassy as part of MMR-s efforts to leverage its intellectual property through global development initiatives in Qatar and Brazil. The Company already owns anti-CD20 antibody biotech patents in Brazil. In New York, MMR met with potential licensees, investment bankers, and competitors representing the largest providers of selling through employers, insurers and payers, and to consumers, similar to MMR.
The Institute-s article, located at , also cites that “a KLAS survey of 104 providers found that 57% already have a patient portal in place with the largest vendors including Cerner, Epic, Intuit Health, Jardogs, MEDSEEK, NextGen, and RelayHealth. With the growing demand for patient portals there is increased concern among vendors about their intellectual property and potential infringement from competitors. The most recent patent announcement came from WebMD and MyMedical Records (MMR). The two organizations have entered into an agreement attempting to resolve potential infringement on MMR-s PHR and patient portal patent portfolio. The same announcement also mentioned that MMR initiated service of its patent infringement complaint filed against Jardogs LLC, one of the firms researched in the KLAS study. It-s yet to be seen how the MMR IP negotiations will play out but other tech giants like McKesson, Google and Apple have been involved in patent suits resulting in settlements in the 100s of millions of dollars. With the health IT industry continuing its accelerated growth, patent infringement among vendors will become an increasingly important area of focus.”
Of the many companies mentioned in the iHT2 article, MMR is in talks with nearly all of them and met with two of them in New York pursuant to previously negotiated non-disclosure agreements, and also held its first meeting with Dossia. The Company has also filed patent infringement litigation against Walgreens, Quest Diagnostics and Jardogs which it is actively working to resolve.
Last week, the Company announced the receipt of a Notice of Allowance from the United States Patent and Trademark Office for U.S. Patent Application Serial No. 13/714,720 entitled, “Method for Providing a User with a Service for Accessing and Collecting Prescriptions” which MMR believes will have significant impact on the Company-s efforts to sell, license and otherwise exploit its products and services. The MMR Patent Portfolio already includes seven issued U.S. patents — U.S. Patent Nos. 8,301,466; 8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; and 8,321,240 — as well as additional applications and continuation applications with nearly 400 claims.
MMR-s patents involve inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems which the Company sells and licenses. In addition to its issued patents and recent NOA, MMR-s health information technology patent portfolio also includes numerous issued patents and pending applications in other countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Japan, Canada, China, Hong Kong, South Korea, Israel, and European nations.
MMR is a leading provider of , storage solutions, and MMRPro document management and imaging systems for . According to Lorsch, the Institute for Health Technology Transformation article also demonstrates that after eight years, MMR is in the right place at the right time. Patient engagement is key to a cost-effective healthcare system and MMR-s products and services and patented IT tools can make a difference in the cost of healthcare and, more importantly, outcomes. The entertaining video located on YouTube at demonstrates the features and benefits of a PHR and highlights the inefficiencies and challenges facing the U.S. health system.
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 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. MMR-s professional offering, , 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, MMR 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 . View demos and video tutorials of MMR-s products and services at .
All statements in this press release that are not strictly historical in nature, including, without limitation, intellectual property enforcement actions, infringement claims or litigation, intellectual property licenses, 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 MMR-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 MMR-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 MMR-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 MMR-s filings with the Securities and Exchange Commission, including disclosures about relationship with the Michael Bass Group since 2009. MMR 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.
Michael Selsman
Public Communications Co.
(310) 922-7033
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