MMRGlobal, Inc. (OTCQB: MMRF) (the "Company" or "MMR") today announced that less than one month before scheduling of court-ordered arbitration proceedings against Surgery Center Management, LLC ("SCM"), the United States Patent and Trademark Office has issued another health information technology patent to MMR. The Company is in its second year of a $30 million license agreement with SCM for which the Company claims a minimum of $10 million is now due. Ted Ward of Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP ("Liner Law"), who represents the Company on patent licensing and infringement matters, is in the process of contacting numerous hospitals and other healthcare professionals regarding the enforcement of the Company's intellectual property rights and the opportunity to license the technology.
The Company also announced that Mr. Ward at Liner Law has been substituted into and taken over the SCM case. "The Company has a written and executed agreement with SCM, the SCM Settlement and Patent License Agreement (the "SCM License"), that is fully integrated and provides that SCM is to pay the Company $30 million, $5 million per year. We fully expect the Company to prevail in this matter. Further, because SCM has breached the terms of the SCM License Agreement, the Company will also protect its rights in Federal Court by pursuing claims for patent infringement against SCM," said Mr. Ward.
MMR received U.S. Patent No. 8,301,466 entitled "Method and System for Providing Online Records" issued on October 30, 2012. The patent is directed toward methods for providing users with the ability to access and collect health records. The issued patent expands the scope of the Company's portfolio and is of relevance to numerous offerings which enable the exchange of health records between healthcare providers and other users in a secure and private manner. The patent comes in advance of the Meaningful Use requirement that patients have online access to their protected health information through a Personal Health Record or other form of patient portal by 2014. The Company believes that this patent makes it difficult for eligible healthcare professionals to fully qualify for full incentives under the HITECH Act because one of the core requirements is to provide patients access to their personal health information through a Web-based portal. Accordingly, this patent could prevent EMR and PHR vendors from allowing patients access to personal health information without a license from MMR.
The Company is contacting hundreds of potential licensees each week and is already in the process of signing several license agreements. The Company believes the license agreements will generate immediate sales and revenues to MMR. The MMR health IT patent portfolio has significant value to the Company and its shareholders as foundational industry patents, as does the Company's global portfolio of biotech patents which have already been licensed under the terms of a $13 million dollar license agreement.
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; or whether or not such statement relates directly to the Settlement and Patent License Agreement, or the terms contained therein, with Surgery Center Management, LLC; 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.