LOS ANGELES, CA -- (Marketwire) -- 07/23/12 -- MMRGlobal, Inc. (OTCBB: MMRF) ("MMR"), a leading provider of Personal Health Records (PHRs) and electronic document management and imaging systems for healthcare professionals, today announced that The RHL Group, Inc. will increase the credit line of MyMedicalRecords, Inc. by $1.5 million to a total of $4.5 million. The increased credit facility will help the Company with sales and marketing of its MyMedicalRecords (www.mmrvideos.com) patented Personal Health Record and MMRPro (www.mmrprovideos.com) professional products and services as well as continue ongoing talks with potential strategic partners to add to and exploit its biotech portfolio. The Company is also working on identifying a Chief Science Officer to help manage and license existing biotech assets including patents, patient samples and other related intellectual property and other opportunities. Robert H. Lorsch, MMRGlobal's Chairman and CEO, is also CEO of The RHL Group, Inc. Details of the financing will be disclosed in filings with the SEC later this week.
Mr. Lorsch said, "eHealth is clearly becoming the standard for the future of healthcare. Based on the Company's eHealth and biotech patent portfolios, I believe the Company is severely undervalued at this time. I cannot think of a better way to communicate my support and enthusiasm for MMR's future than to increase its RHL Group credit line by 50%. As a result of the passage of the HITECH Act, having a Personal Health Record will someday be as important as having a credit report."
The Company sells its Personal Health Record products and services direct to consumers and healthcare professionals, employers, affinity groups, nurse advocates, senior care providers and retailers. The Company sells its MMRPro document management and imaging systems to physician group practices, ambulatory surgery centers and small hospitals.
MMRGlobal is considered to be a leading provider of Personal Health Record services. The Company is uniquely positioned to capitalize on the rapid growth of health IT and the national and worldwide adoption of eHealth solutions and services as it owns the underlying technology and numerous patents issued pending and applied for globally in the healthcare IT sector.
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 monoclonal 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, whether or not such statement relates directly to The RHL Group, Inc. credit facility, and to the Company's 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," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," "intend" and "continue," or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the prosecution of our patents; defending, protecting and maximizing the value of our biotechnology and health information technology intellectual property; timing of milestone payments in connection with licensing our IP; the risk the Company's products are not adopted or viewed favorably by the healthcare community and retail market; business prospects, results of operations or financial condition; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; timing and volume of sales and installations; length of sales cycles and the installation process; timing of new program launches; market acceptance of new product 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; acceptance of the Company's marketing and promotional campaigns; 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 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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