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MMRGlobal Announces $5 Million Multi-Channel Rapid Revenue Program(May 07, 2012)
LOS ANGELES, CA -- (Marketwire) -- 05/07/12 -- Robert H. Lorsch, Chairman and CEO of MMRGlobal, Inc. (OTCBB: MMRF) ("MMR"), a leading provider of Personal Health Records (PHRs), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today reported that in January 2012 just prior to the Consumer Electronics Show (CES), the Company began an internal project named "Rapid Revenue" launching eight vertical business opportunities designed to deliver Personal Health Records directly into the hands of consumers. Rich Teich, who has worked with Mr. Lorsch for more than 34 years, has rejoined MMRGlobal to oversee the project.
The verticals that Rich Teich is actively managing are independent pharmacies, pharmacy chains and other mass merchandisers, visiting nurses, caregivers, patient advocates, in-home sales affiliates, hospitals and medical supply companies.
Based on its current sales pipeline, the Company believes it will generate in excess of $5 million by the end of 2012 from just the independent pharmacies, visiting nurses, caregivers, patient advocates and in-home sales affiliate verticals. This amount does not include revenue from major pharmacies and mass merchandisers as well as revenue from existing agreements, other channels and licensing. The independent pharmacy segment is based on 23,000 potential outlets with less than 5% market penetration.
"I came on board just prior to the Consumer Electronics Show to help launch the Company's Prepaid Personal Health Record card and accelerate sales of our products and services in eight vertical markets," said Teich. "My objective is to drive revenue quickly while allowing the Company to focus on its many larger strategic, government, international and licensing opportunities such as the MMR's agreements with Chartis Insurance, MedicAlert, Unis-Tonghe in China and VisiInc in Australia, which take long periods of time and significant capital to incubate and develop to their full revenue potential."
"We are also in the process of building the national sales rep organization that will take us to the large chain pharmacies and mass retailers," Teich added. "Our success with independent pharmacies will help facilitate our acceptance in that channel as well."
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. 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 subject to various risks and uncertainties, including but not limited to those discussed or incorporated by reference herein. 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; success of new distribution channels and personal health records adoption; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product introductions including the prepaid Personal Health Record card; 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; risks associated with recruitment and retention of key personnel; maintaining, developing and defending our intellectual property rights; marketing and exploitation of our patent portfolio both in the U.S. and internationally; 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. 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.
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