LOS ANGELES, CA--(Marketwire - Oct 25, 2012) - MMRGlobal, Inc. (OTCBB: MMRF) ("MMR") today announced that it is already in the process of delivering the second group of 25 MMRPro systems pursuant to an agreement with a reseller of medical products and services to healthcare professionals as announced by the Company on October 1, 2012. The contract calls for an initial 75 units, of which the first 50 will have been delivered by the end of this quarter and the remaining 25 in the first quarter of 2013. Starting in the second quarter of next year, the agreement calls for the reseller to purchase or license a guaranteed minimum of 100 additional MMRPro systems per quarter over the life of the three-year contract, which represents a minimum of $5 million to $16.8 million in revenues in addition to $1,050,000 for the first 75 units. MMR plans on issuing a joint press release as early as next week with additional details announced leading up to the Consumer Electronics Show in Las Vegas January 8-11 and a planned press conference at HIMSS 2013 in New Orleans in March.
According to Robert H. Lorsch, MMRGlobal CEO, "We are pleased that the Company is delivering the first two portions of this order. This, along with the positive press we are getting on our patent portfolio, should give us a strong finish going into the end of the year, with two months of selling to go and a little more than a year before the federal government's Meaningful Use Stage 2 regulations go into effect requiring that patients be given online access to their personal health information."
MMRGlobal is a leading provider of Personal Health Records through its MyMedicalRecords.com PHR, MyEsafeDepositBox storage solutions, and MMRPro document management and imaging systems for healthcare professionals that enable providers to efficiently digitize their medical records. MMRPro also addresses patients' need to securely access their medical records online through an integrated patient portal while providing physicians and group practices, surgery centers and small hospitals that rely on using transactions-based processes and forms, including patient billing, prescription data, and medical charts, a cost-effective and easy-to-use system that responds to the document imaging and management needs of their operations. All of MMRGlobal's products and services, including MyMedicalRecords.com, MyEsafeDepositBox.com, MMRPatientView and MMRPro, utilize a series of patented technologies owned by the Company, the latest of which was announced last month (click here to view the press release). Using the MMRPro system, healthcare professionals can move away from paper and begin the path to more streamlined and efficient operations in advance of delivering PHRs through patient portals and paving the way for the implementation of fully functional EMRs.
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.
Statements in this press release that are not strictly historical in nature, including without limitation statements about 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 MMRGlobal, Inc.'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," "project," "maintain," "plan," and "continue," or the negative of these words. 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. Factors that could cause or contribute to such differences include, but are not limited to, the risk our products and services are not adopted or viewed favorably by the healthcare community and retail market, both in the U.S. and internationally; 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; product integration in physician practices, hospitals and other healthcare facilities; timing and volume of sales and installations; length of sales cycles, delivery 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 and future changes in tax legislation and initiatives in the healthcare industry both in the U.S. and internationally; 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; acceptance of the Company's marketing and promotional campaigns; risks related to a security breach by third parties; our ability to develop, maintain, monetize and protect our patent portfolio for both the Company's health IT and biotechnology intellectual property assets in the U.S. and internationally; unexpected outcomes with respect to intellectual property enforcement actions, claims of intellectual property infringement and general intellectual property litigation; uncertainties associated with doing business internationally across borders and territories; and additional risks discussed in the Company's filings with the United States Securities and Exchange Commission. MMRGlobal, Inc. 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.