SOURCE: MMRGlobal, Inc.

MMRGlobal, Inc.

September 07, 2011 09:05 ET

MMRGlobal Enters Into Agreement With Private Healthcare Revenue Cycle Management Group

LOS ANGELES, CA--(Marketwire - Sep 7, 2011) - MMRGlobal, Inc. (OTCBB: MMRF) ("MMR") (www.mymedicalrecords.com), a leading provider of Personal Health Records, MyEsafeDepositBox storage solutions and electronic document management systems for consumers and healthcare professionals, today announced that it has signed a non-binding term sheet to enter into a definitive agreement with JERCS, Inc. a private healthcare revenue cycle management group, and an affiliate (jointly, "JER") to provide EMR-connected Document Management and Imaging Services, Personal Health Records (www.mmrvideos.com) and Revenue Cycle Management services support to JER clients. Signing of the definitive agreement is currently subject to a number of binding provisions to be discussed and agreed to by the parties and certain other contingencies, including but not limited to, further due diligence, certain financial and tax opinions, regulatory matters and approval of all parties' board of directors. Based on representations in the term sheet if completed, MMR believes that JER could represent more than 150 million dollars in revenues to MMR following the signing of the final definitive agreement.

The parties have already agreed to deploy the MMRPro® EMR-connected Document Management and Imaging Service (www.mmrprovideos.com) with MMRPatientView (www.mmrpatientvideos.com) to a minimum of 12 surgery centers and at least one 200-bed hospital based on the Company's standard terms and conditions for the purchase and licensing of MMRPro. The companies also plan on providing the ability for patients to have an option to upgrade their MMRPatientView account to a comprehensive MyMedicalRecords Personal Health Record account. MMR also intends to offer automated billing, collection and revenue cycle management services of JER on terms to be agreed to between the parties.

Further details of the contemplated transactions are not being disclosed at this time; however, if the transactions are completed, MMRGlobal believes that it would be amongst a handful of combined Health Information Technology groups offering a collection of EMR-connected Document Management and Imaging Services, Personal Health Records and Revenue Cycle Management solutions. Companies with similar service offerings include athenahealth, Craneware and Accretive Health.

On August 30, 2011, just prior to the signing of the non-binding term sheet, Government Health IT reported how PHRs boosted shareholder value at EMC Corp. The article discusses how the use of Personal Health Records at software provider EMC increased productivity, lowered healthcare costs and increased the value of EMC's share price. The article stated, "The use of PHRs should increase based on recommendations for meaningful use stage 2, in which patients will be able to view and download their information to their computers or PHRs via patient portals and other methods." The article quotes Delia Vetter, EMC senior director of benefits and programs, in saying that EMC has contained costs by about $200 million over 10 years, and that it also increased EMC shareholder value.

According to Robert H. Lorsch, MMRGlobal CEO, "We believe that this transaction represents the opportunity for MMR products and services to be delivered to healthcare professionals through the business management side of healthcare. This term sheet comes within days of the first report that makes a definitive conclusion that the value and effectiveness from the use of PHRs can positively affect both an employee's health and a company's bottom line. We cited this report to demonstrate that the value of Personal Health Records to individuals and business is becoming indisputably clear."

MMRGlobal continues to hold proprietary software patents that it believes could also be of value to the contemplated transactions, if they occur. These include global patents for its Personal Health Records products, services and technologies and the Company's portfolio of biotech patents and other intellectual property.

The Company is also in the process of forming a separate operating subsidiary to maximize the value of its intellectual property, specifically its biotech assets which the Company believes may have significant commercial value. These assets include its Anti-CD20 antibody which the Company believes to be a first cousin to Rituximab. Rituximab is scheduled to go off patent in 2015 and currently represents over 6.6 billion dollars in annual sales.

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™/Specifid™ 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

The term sheet described above is non-binding on the parties thereto; therefore, the transactions contemplated by such term sheet are contingent upon the ultimate agreement of the parties, if any, with respect to the matters set forth therein. MMRGlobal, Inc. cannot guaranty that the parties to the term sheet will reach a definitive agreement with respect to any of the transactions contemplated therein. Further, the Company cannot guaranty that the transactions contemplated by the term sheet will ever be consummated, and even if they are consummated, MMRGlobal, Inc. cannot guaranty that the transactions will be consummated on terms favorable to the Company and/or its stockholders. All statements in this press release relating to the term sheet, and any other statements that are not strictly historical in nature, whether or not such statement relates directly to the term sheet, including 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 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; variations in our quarterly operating results; product integration in physician practices 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.

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