LOS ANGELES, CA--(Marketwire - Aug 9, 2012) - MMRGlobal, Inc. (OTCBB: MMRF) (MMR) today announced it will revitalize efforts to monetize the Company's significant patent portfolio related to Personal Health Records (PHRs) and biotech and has retained the law firm of Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP (Liner) to lead the effort. With Liner's assistance, MMR will pursue markets that rely on the Company's patented health IT technologies, including hospitals, healthcare providers and physician group practices using document management, imaging and faxing of paper-based medical records into digital online Personal Health Records. The Liner firm will protect and monetize MMRGlobal's intellectual property, including the past, present and future use by third parties of its health IT patents. Liner will also work with existing MMR consultants and bankers to identify markets and potential infringers, including healthcare IT service vendors and healthcare providers.
Liner is one of Los Angeles' largest regional law firms, with a distinguished roster of attorneys. The MMR initiative will be led by Ted Ward, a Liner partner whose career includes advising Fortune 500 companies regarding complex business and intellectual property litigation matters, particularly surrounding patent litigation in manufacturing processes, mechanical engineering, computer hardware and software, printer technology, cable modem technology, biotechnology and pharmaceutical issues.
According to Ward, "MMR owns a significant portfolio of issued patents and pending claims. We intend to protect MMR's rights and pursue potential infringers. The evolving world of health IT includes a global shift to digitizing medical records and has created new opportunities for MMR. MMR's intellectual property portfolio is significant and it is the Company's intention to enforce its rights and make its services available to those who must comply with the legal requirements regarding the maintenance of health records."
Bob Lorsch, Chairman and CEO of MMRGlobal, said, "We have worked long and hard on establishing our health IT and biotech patents at significant cost and it is time to monetize them for usage. Where infringements were inadvertent, we will offer reasonable non-exclusive recurring license packages based on the size of the infringement."
Ward continued, "In today's business climate, more and more companies are seeing the value and merits of 'monetizing' their intellectual property assets. We are in the midst of a change where many companies have turned their IP portfolios into significant revenues. At the same time, we are witnessing a successful push by many of the Web's biggest pioneers as well as emerging growth companies like MMR that are re-asserting patent portfolios against new rivals emerging in the social media and networking space out of a fiduciary responsibility to their shareholders to maximize every financial means possible."
The MMR patent portfolio was created in conjunction with the intellectual property law boutique of McKee, Voorhees & Sease, P.L.C. (MVS). MVS has partnered with MMR from the beginning and continues to assist in building U.S. and international patent portfolios in the health information technology and biotechnology areas. MMRGlobal's biotechnology portfolio includes three U.S. patents, four U.S. pending patent applications, five patents in foreign countries and 15 pending patent applications in foreign countries. MMRGlobal's health IT portfolio includes three U.S. patents (with a total of 81 claims), 18 pending U.S. patent applications (with hundreds of pending claims), five patents in foreign countries, and nine pending patent applications in foreign countries. MVS will continue to file and manage the prosecution of MMR patents globally in support of the Liner monetization efforts.
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 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," "intend," "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 and consumer retail market; business prospects, results of operations or financial condition, including variations in our quarterly operating results; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; maintaining, developing, building and defending our patent portfolio for both the Company's health IT and biotechnology intellectual property assets; monetizing and litigating our patent portfolio both in the U.S. and internationally; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product and service introductions; ability to establish and maintain strategic relationships; relationships with licensees; competitive product offerings and promotions; changes in government laws and regulations and future changes in tax legislation and initiatives in the healthcare industry; 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; risks related to a security breach by third parties; litigation matters; risks associated with recruitment and retention of key personnel; uncertainties associated with doing business internationally across borders and territories; and such other risks and uncertainties as detailed from time to time in MMRGlobal, Inc.'s public filings with the U.S. 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.