MMRGlobal Letter to Stockholders
LOS ANGELES, CA, Feb 01, 2011 (MARKETWIRE via COMTEX) --
MMRGlobal, Inc. (OTCBB: MMRF) (www.mmrglobal.com)
Dear Stockholder:
It has been reported that meaningful use incentives could be threatened as the new Republican majority in the House of Representatives moves to deliver on its campaign promises to cut spending. That's why last year MMR created its own Stimulus Plan for physicians, which should favorably impact sales of MMRPro regardless of the outcome of health reform. In fact, MMR's Stimulus Plan could end up being the only such available program, a state of affairs that would be very beneficial to MMR.
In the midst of partisan wrangling, a national survey was released by the Markle Foundation yesterday showing that PHR adoption is on the rise and there is overwhelming agreement among both doctors and patients for sharing information electronically to improve patient care by reducing medical errors and slashing avoidable costs. Among the findings: Three in four doctors want to be able to share information with other professionals electronically, nearly half of the doctors would prefer computer-based means of sharing records with their patients (only 5 percent do so today), and74 percent of them said patients should be able to share their information electronically with their doctors and other practitioners.
This represents a unique opportunity for MMRGlobal. Since MMRPro is a cost effective gateway to a comprehensive EMR, we are one of the few major vendors that would not be impacted by any change in HITECH incentive reimbursements. Additionally, MMR's personal health record enables the patient to control who sees what and when with the utmost of security and privacy.
Looking down the road at 2011:
-- Chartis domestic has already begun generating revenue with 250,000
recent members added to our user base.
-- MMR will sign an Agreement with Kodak to manufacture MMRPro systems
with a potential aggregate sales value to MMR in excess of ten million
dollars.
-- MMR is working on expanding the Chinese Joint Venture agreement with
Unis-Tonghe to include a large international partner who can provide
unique technology and telecommunications backbone to the existing
agreement and help expand the sales opportunity throughout the Pacific
Rim as well as other parts of the world.
-- With the Washington chatter pitting Republicans against Democrats, who
remain in control of the Senate, MMR's Stimulus Program could end up
being a dominant program to help physicians with costs related to the
installation of an Electronic Medical Records system.
-- We have been gaining increasing exposure through the national network
sponsorship of TV and radio programs we launched last year to
advertise our unique product lines to millions of people watching
shows like the "Daytime Emmy Awards," the "Hollywood Christmas Day
Parade," and both locally and nationally on The Hallmark Channel. We
also instituted a national campaign on Clear Channel radio and debuted
an impression-based media campaign on Facebook, which has already
reached half the population of the United States.
-- Our sales and revenues rose quarter over quarter in 2010.
-- We signed our first $13 million dollar biotech licensing deal and are
actively exploring additional opportunities with the Company's
anti-CD20 antibodies and other IP owned and controlled by the
Company.
It takes immense effort and the dedication of our talented staff to have come this far in so short a time. It also takes a steady supply of money which remains available to us through our equity line and other forms of financing used by the Company in the past. However, as our revenues improve over the course of the year, we should be less reliant on outside financing for our growth.
For the future, we want to highlight the value in the Company's biotech assets and other Intellectual Property. The Company has spent more than $100 million developing its biotech portfolio. We believe this can lead to numerous relationships in Big Pharma, where the Company can use its IP to speed approval of drugs and assist in the monitoring of patients in clinical trials.
Richard Lagani, formerly of Chartis Insurance, is now in London, tending to the European launch of our products and services. He is managing the Chartis Domestic and International relationship and will work to expand MMRGlobal's relationship with the Eastman Kodak Company as well. Richard, a member of a special committee of the Office of the Director of National Intelligence (ODNI), will also assist the Company in bringing MyEsafeDepositbox to the government's attention as a way for citizens to better protect their documents in the event of a disaster or other national emergency.
MMRGlobal's primary business remains health information technology, specifically our MyMedicalRecords Personal Health Record and MMRPro for healthcare professionals. However, as we've said before, the Company will continue to work with institutional investors, strategic partners, scientific advisors, universities and others to look for opportunities to utilize both our health information technology and biotech assets to identify ways to help save lives and speed approval of other drugs in various stages of clinical trials.
We thank you for your support over the last year and look forward to an exciting and prosperous 2011.
Very truly yours,
Robert H. "Bob" Lorsch Chairman & CEO, MMRGlobal
