MMRGlobal, Inc., a provider of secure and easy-to-use online personal health records and electronic safe deposit box storage solutions, reportedly signed a settlement and patent license agreement with Surgery Center Management LLC, a consulting firm specializing in the development and management of freestanding ambulatory surgery.
Under the terms of the Agreement, MMR Global will issue a limited, non-exclusive, non-transferable license to patents covering many of the MMR's patented Health IT products and services including the company's MyMedicalRecords and MMRPro document imaging and scanning solutions for healthcare professionals.
MyMedicalRecords has been designed to enable 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. Built on proprietary, patented technologies, the product allows 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. The solution allows physicians to share the records and documents with the patients in real time via an integrated patient portal.
According to the press release, the Surgery Center Management is giving of $30 million to MMR global for the patent license. In addition, MMR Global will receive usage royalties as outlined in the agreement. The agreement specifically excludes any of MMRGlobal's biotech assets, the company officials pointed out.
The agreement enables SCM to develop, make, use, sell, lease, license, demonstrate, market and distribute the Licensed Products and/or Licensed Services under Licensee's brand for resale to end customers.
The Agreement includes settlement of any potential claims by MMRGlobal against SCM and its affiliates for any past patent infringement.
“Last year, MMRGlobal celebrated the New Year by announcing a $13 million biotech licensing agreement. This year, MMR will go into the New Year announcing a $30 million licensing agreement. These license agreements highlight the potential value in the Company's patents and other Intellectual Property,” Chairman and CEO of MMRGlobal Robert H. Lorsch noted in a statement.
MMRGlobal, holds numerous patents for Health IT applications, many of which are already being successfully licensed worldwide. Currently MMRGlobal controls a portfolio of biotech assets acquired through a reverse merger with Favrille, Inc. in 2009.
Last month MMR Global reportedly obtained a patent protecting methods of making compositions for B-cell vaccines. MMRGlobal said that it was soon to receive Notice of Allowance for another U.S. Patent protecting “Methods of treating a patient with a B-cell lymphoma.”
Madhubanti Rudra is a contributing editor for HealthTechZone. To read more of her articles, please visit her columnist page.Edited by
Rich Steeves
