From the Wires
MMRGlobal Files Form 8-K Regarding Signing of Patent License Agreement, Dr. Shekhar Challa to Medical Board of Advisors
Dec. 10, 2012 08:35 AM
LOS ANGELES, CA -- (Marketwire) -- 12/10/12 -- MMRGlobal, Inc. (OTCQB: MMRF) today announced it filed a Form 8-K regarding the signing by MyMedicalRecords, Inc. (MMR) of a Non-Exclusive Patent License Agreement with 4medica, Inc. to license U.S. rights for the health IT patents owned by MyMedicalRecords, Inc. These include but are not limited to U.S. Patent Numbers 8,321,240; 8,301,466; 8,117,045; 8,117,646; and 8,121,855, as well as any other health IT patents to be issued pursuant to pending applications filed by MyMedicalRecords in the United States and all divisions, continuations, reissues, and extensions (the "MMR Patents"). The initial term of the Agreement is five years and automatically renews to the expiration date of the last licensed patent to expire, which currently in the U.S. is twenty years from the date of filing. MMRGlobal is a leading provider of Personal Health Records (PHRs) including its MyMedicalRecords.com PHR and MMRPro document management and imaging systems for healthcare professionals.
In June of 2012, the Company announced that 4medica was incorporating a Communications Gateway within its EHR platform using products and other intellectual property designed by MMR and provisioned to 4medica using MMR's patents and other intellectual property. Since the initial launching of the Gateway and the awarding of numerous additional USPTO patents to MMR, the two companies agreed to sign a comprehensive patent license agreement granting 4medica rights to utilize all MMR patents in all 4medica products sold to hospitals, laboratories, healthcare professionals and/or patients. 4medica offers Lab Portal products to more than 30,000 physicians and providers, the 4medica iEHR system which includes the 4medica Electronic Health Record for ambulatory physician practices and clinics, the 4medica iEHR for inpatient care settings and other health centers, and other 4medica clinical informatics products.
The Company also announced that Shekhar Challa, M.D. has joined the Company's Medical Board of Advisors. Dr. Challa, a Board Certified Gastroenterologist in practice for over 25 years, is President and Co-Founder of Kansas Medical Clinic, a multi-speciality clinic focused on Gastroenterology, Dermatology, Neurology and Pathology. Dr. Challa is also founder of Osteoporosis Services, the largest mobile bone density testing company in the Midwest with relationships to more than 150 rural hospitals, a primary targeted market for MMRPro.
Dr. Challa is also a digestive health authority and award-winning author whose most recent book, "Probiotics for Dummies" (Wiley, 2012), followed the publication of "Winning the Hepatitis C Battle" and "Spurn the Burn, Treat the Heat: Everything You Need to Know to Beat Acid Reflux Disease," for which he received the Readers Preference Award. Dr. Challa's latest venture includes being the co-producer of the first-ever probiotic video game, "Microwarriors: The Battle Within."
Dr. Challa, who also recently founded The Probiotic Store, will be working with MMR to distribute the Company's Personal Health Record products and services by offering free trials through Dr. Challa's probiotics store (http://www.theprobioticstore.com/).
"Joining as a member of MMR's Medical Advisory Board will enable me to introduce the Company to organizations and distribution channels that I am affiliated with including eight hospitals, physicians and other past and current board affiliations with NutraCenter, Proctor & Gamble and U.S. Bank," said Dr. Challa.
Dr. Challa received his board certification in Internal Medicine and Gastroenterology from Coney Island Hospital in Brooklyn. He has been the principal investigator for 17 different clinical research trials for such leading companies as Glaxo, Roche and Bristol-Myers.
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. 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.
About 4medica, Inc.
4medica provides the industry's leading cloud SaaS (Software-as-a-Service) clinical integration platform, the 4medica Integrated Electronic Health Record (4medica iEHR®), to help healthcare organizations of diverse types create a seamless view of the patient care experience and drive EHR adoption. The intuitive iEHR platform design integrates with and builds upon disparate systems to facilitate interoperable data exchange across various care settings to promote care continuity. The cloud computing model is scalable, lower cost, maintenance-free, easy to use and deployable in a few months or less, eliminating large capital outlays or resource utilization. This is especially critical for small community and rural hospitals and physician health organizations of all types and sizes striving to qualify for ARRA incentives and to demonstrate Meaningful Use. 4medica connects 100-plus institutional facilities including hospitals, health systems, physicians, laboratories and radiology and pathology clinics, and its products are used by more than 30,000 physicians. For more information, visit http://www.4medica.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 MMRGlobal'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. Actual results and the timing of selected events may differ materially from the results predicted, and 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; changes in our relationships with our licensees; the risk the Company's products and services are not adopted or viewed favorably by the healthcare community; business prospects, results of operations or financial condition; timing and volume of sales and installations; length of sales cycles and the implementation process; market acceptance of new product and service introductions; MMR's software and telephony platform applications; new distribution channels; ability to establish and maintain strategic relationships; 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 integrating and being integrated with third-party technology; risks related to a security breach by third parties; 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 MMRGlobal's filings with the Securities and Exchange Commission. MMRGlobal 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.
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