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MMRGlobal Receives $30 Million Offer for License of Company's Health IT Patent Portfolio
LOS ANGELES, CA, Dec 07, 2011 (MARKETWIRE via COMTEX) --
MMRGlobal, Inc. (OTCBB: MMRF) ("MMR"), today announced it has
received a proposed agreement from Surgery Center Management, LLC
("SCM") (www.surgerycentermgmt.com) to license certain of the
Company's Health Information Technology and Personal Health Record
patents for a minimum license fee of $30 million plus additional
royalties on terms to be negotiated. Although the offer is subject to
the signing of a final definitive licensing agreement, it
specifically excludes any of MMRGlobal's biotech assets and other
related intellectual property on which the Company has spent more
than $100 million in development.
Under the terms of the proposed agreement, MMR would issue a limited
non-exclusive, non-transferable, sub-licensable license for its
proprietary processes pertaining to the Company's portfolio of Health
Information Technology patents. This includes various patents
covering proprietary uses of MMR's personal and professional Health
IT products and services including its MyMedicalRecords.com Personal
Health Record product line for patients (www.mmrvideos.com) and the
MMRPro electronic document management and imaging system for
physicians, small hospitals and surgery centers
(www.mmrprovideos.com). The Company cannot guarantee that a final,
legally binding agreement will be reached, however, if completed the
agreement would include settlement of any potential claims by
MMRGlobal against SCM and its affiliates for any past patent
infringement.
In addition to holding numerous patents for Health IT applications,
which are already being successfully licensed worldwide, the Company
controls a portfolio of biotech assets acquired through a reverse
merger with Favrille, Inc. in 2009. Favrille spent more than $100
million in development of certain intellectual property that includes
biotech patents and patient samples which MMR is working to license
to biotech companies, universities and others. The Company has
already demonstrated its ability to license these assets to Big
Pharma.
Additional information on the Company's products and services can be
found at www.mmrtheater.com and www.mmrglobal.com.
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary,
MyMedicalRecords, Inc. ("MMR") (www.mymedicalrecords.com), 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.
MyMedicalRecords 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. The MyMedicalRecords Personal Health
Record 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(TM)/Specifid(TM) vaccine clinical trials for the treatment of
B-Cell Non-Hodgkin's lymphoma. To learn more about MMRGlobal, Inc.
and its products, visit www.mmrglobal.com.
Forward-Looking Statements
All statements in this press release that
are not strictly historical in nature, whether or not such statement
relates directly to the proposed agreement from Surgery Center
Management, LLC or the terms contained therein, 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," "offer," "development," "if,"
"negotiate," "when," "begun," "believe," "achieve," "will,"
"estimate," "expect," "maintain," "plan," and "continue," or the
negative of these words. Factors that could cause or contribute to
such differences include, but are not limited to, the risk that the
Company and Surgery Center Management, LLC will not reach a
definitive agreement with respect to the proposed license agreement
and any contemplated transactions therein, and even if consummated,
the Company cannot guarantee the terms of such agreement, once
consummated, will be favorable to the Company and/or its
stockholders; the risk the Company's products are not adopted or
viewed favorably by the healthcare community; risks related to the
current uncertainty and instability in financial and lending markets,
including global economic uncertainties; financial projections;
product integration in physician practices, surgery centers and
hospitals; 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; ability to identify and integrate acquisitions;
relationships with licensees; competitive product offerings and
promotions; changes in government laws and regulations, especially as
related to the healthcare industry; future changes in tax legislation
and initiatives and exposure to additional tax liabilities;
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; current
and future litigation; acceptance of the Company's marketing and
promotional campaigns; the value of the Company's broadcasting
advertising and sponsorships; negotiated milestone payments; risks
related to a security breach by third parties; maintaining,
developing and defending our intellectual property rights including
those pertaining to our biotechnology assets; risks associated with
recruitment and retention of key personnel; 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. Additionally, we are a developing
early-stage company and many variables can affect revenues and/or
projections, including factors out of our control. 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. You are cautioned not to
place undue reliance on the forward-looking statements set forth in
this press release.
CONTACT:
Michael Selsman
Public Communications Co.
(310) 553-5732
ms@publiccommunications.biz
SOURCE: MMRGlobal, Inc.
mailto:ms@publiccommunications.biz
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