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MMRGlobal Reaches One Million Member Mark With Agreements to Double This Year(May 29, 2012)
LOS ANGELES, CA -- (Marketwire) -- 05/29/12 -- MMRGlobal, Inc. (OTCBB: MMRF) ("MMR") today announced that its domestic membership base for its patented Personal Health Record products and services has passed the one million mark and is expected to double before the end of this year with affinity programs through agreements with E-mail Frequency (www.emailfrequency.com). The Company believes it currently has the highest member base of any pure-play Personal Health Record (PHR) provider. MMR counts members as a population who has paid access to the Company's MyMedicalRecords and MyEsafeDepositBox websites along with private label websites. Members from MMR's clients include Chartis Insurance (formerly AIG), Coverdell, MedicAlert®, UST Global®, and the NRA in addition to union membership, expats, hospitals, physician groups, surgery centers and other healthcare professionals, amongst others.
Membership is a key indicator of the interest in, and awareness of, Personal Health Records, giving the Company a targeted list of individuals and families that MMR can convert to users. According to Bob Lorsch, MMRGlobal CEO, "As our member base continues to grow, it creates a revenue generating platform for the Company to sell affiliate products and services or for use in a targeted advertising model. Once users place any data in their account, they keep it. The more information that is stored in an account the stickier our service becomes."
Starting today, the Company will be presenting its Interbit Data certified MEDITECH solution at the International MUSE Conference taking place in Orlando through June 1 (www.museweb.org). The solution moves patient records from MEDITECH EMR systems and delivers them into MMRPatientView which can then be upgraded to a full-featured MyMedicalRecords PHR. The MyMedicalRecords PHR is also integrated in the Company's MMRPro document management and imaging system (http://info.mmrpro.com/). MMRPro is sold to surgery centers, small hospitals, physician offices and other healthcare professionals.
MyMedicalRecords is the only PHR that can store actual copies of patient files in their original format from any healthcare professional and connect patients to their providers via a patented telecommunications platform which seamlessly integrates Internet, fax and voice. Each MyMedicalRecords account includes a version of the Company's MyEsafeDepositBox service to protect other important documents and enable quick retrieval in an emergency, such as deeds of trust, birth certificates, passports, insurance policies, wills, advance directives, photos and other irreplaceable documents. Since the launch of its MyMedicalRecords service in 2005, the Company has noted attrition rates of less than 3 percent.
MMR sells MyMedicalRecords PHR products direct to consumers, corporations as an employee benefit, physicians, small hospitals, surgery centers and other healthcare professionals, including veterinarians, and through affinity organizations as a "value-added" service for their members or clients. The Company recently introduced a Prepaid Personal Health Record Card, which it is beginning to offer through retailers. The Company also plans to sell MyEsafeDepositBox.com through financial services organizations in the future.
The Company's products and services are offered both via the MyMedicalRecords website and as a private-label product. When sold to employers and/or affinity groups, MMR uses a wholesale pricing model similar to companies like Travel Guard®. In that model, the Company counts members as individuals who have received wholesale paid access to the MMR system as an employee benefit or from an affinity group. The Company then counts users as the individuals in that member group who activate and commence usage of their individual PHR by having documents, images or voice files stored in their account.
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; 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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