MyMedicalRecords (MMRGlobal) Received Patent From Canada for Online Medical Records
Posted Sep 17 2013 12:20am
MMR Global, doing business as MyMedicalRecords.com has received one more patent from Canada this time. Content of the press release below. I try to keep up with most of the activity as best I can to include complaints filed against Walgreens, WebMD, Quest Diagnostic to name a few. Recently in the US they were granted another patent that ties into online prescription data and I’m not sure how deep it would go but stay tuned as I’m sure there might be more information as it comes around.
Again I am far from being any kind of a patent expert or any kind of a spokesperson in this area but they are obtaining a large number of patents with the original patents going way back several years relative to technologies used with personal health records. Licensing could end up being a sizeable amount of change if all the patents remain valid and in tact. A lot of the time it is less expensive to agree to a license agreement than to carry out long court cases of which the outcomes can really be unknown until the fat lady sings as there are a lot complexities involved. BD
LOS ANGELES, CA, Sep 16, 2013 (Marketwired via COMTEX) -- MMRGlobal, Inc. (otcqb:MMRF), through its wholly owned subsidiary MyMedicalRecords, Inc. (collectively, "MMR"), today announced that it has received Canadian Patent Application No. 2,615,128 entitled "Method and System for Providing Online Medical Records," issued on September 10, 2013. The Canadian patent includes 40 claims including claims corresponding to those in U.S. Patent No. 8,301,466 which is already being asserted against The Walgreen Co. and numerous other companies in the U.S. (www.pacer.com). Additionally, and based on information contained in a recent article in Seeking Alpha (http://m.seekingalpha.com/article/1586342), MMR believes that Walgreens and others could be generating in excess of one billion dollars each per year using methods and systems contained in one of MMR's patents currently being asserted in suit.
MMR's patent portfolio includes eight issued U.S. patents pertaining to electronic medical records, prescription management and personal health records (PHRs) covering inventions that provide methods and systems that allow patients access to, and control of, protected health information, amongst other things. The Canadian patent expands the scope of MMR's global patent portfolio, which with Mexico, now includes all of North America, as well as patents issued, pending and applied for in other countries of commercial interest including Australia, Singapore, New Zealand, Canada, Japan, Hong Kong, China, South Korea, Israel and various European nations. Additionally, MMR has retained the firm of Sydney-based Rockwell Olivier which has hired experts in preparation for upcoming meetings with representatives with the new Australian Government regarding settlement of claims MMR may have in Australia.
MMR is also in the final stages of negotiating an agreement with a large investment fund specializing in financing the enforcement and licensing of global intellectual property rights using non-dilutive structured partnerships. This would maximize MMR's ability to exploit its global health IT patent portfolio and also the biotech assets it acquired through a reverse merger with Favrille, Inc. in January 2009.
According to Robert H. Lorsch, MMRGlobal CEO, "With patents in 13 countries, a joint venture agreement in China, and Meaningful Use Stage 2 being implemented here in the U.S., MMR is uniquely positioned to be the go anywhere global brand. Over the past several months, MMR has been contacted by numerous hedge funds and other investors that specialize in the exploitation of patents and intellectual property. These funds form structured partnerships that participate in the flow of royalties from a group or bucket of patents in different countries. With all of North America at our fingertips, we believe now is the time to avail MMR to that type of strategic partnership."
The Canadian patent is directed toward methods for providing users with the ability to access and collect health records and covers the exchange of protected health information to and from patients, doctors, pharmacies, insurance providers and other healthcare professionals in forms including, but not limited to, email, text, phone, facsimile and web-based portals.
MMR is a leading provider of Personal Health Records, MyEsafeDepositBox storage solutions, and MMRPro document management and imaging systems for healthcare professionals. In less than two weeks, millions of American citizens will be able to start signing up for programs under Obamacare, which will rely on health IT and online medical records to deliver on cost savings through better coordination of care. Additionally, under the HITECH Act, Stage 2 Meaningful Use requirements mandate that patients have online access to their protected health information through a Personal Health Record or other form of patient portal by 2014.