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Half of Digital Health Start-ups will Fail within Two Years of Launch, Accenture Finds

BUSINESS WIRE 6:35 AM ET 8/13/2015
Symbol Last Price Change
ACN 103.77up 0 (0%)
QUOTES AS OF 04:02:08 PM ET 08/12/2015

Through acquisition, assets of defunct start-ups could fuel further healthcare innovation

CHICAGO--(BUSINESS WIRE)-- Even as funding for digital health start-ups is accelerating, a new report from Accenture(ACN) forecasts that one out of every two of these new companies is likely to fail within two years of launch – but that larger companies could mine these “zombie” start-ups for talent or innovative technologies.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150813005324/en/

“Rather than discard the investment that has been made in getting sputtering start-ups off the ground, it often makes sense for healthcare stakeholders to acquire them, salvage their best people and technologies and awaken them from a zombie-like existence,” said Kaveh Safavi, managing director for Accenture's(ACN) global healthcare business. “Many digital start-ups that are dying or in danger of failure have developed solutions that can help traditional and non-traditional healthcare companies achieve their goals.”

The report, based on an analysis of 900 healthcare IT start-ups, found that 51 percent were in danger of failing within 20 months of their launch. These “zombie” start-ups – those that are dying but have innovative technology or talent that could benefit a prospective corporate buyer –received nearly $4 billion in start-up funding between 2008 and 2013. Accenture(ACN) estimates $2.5 billion will be invested in health technology start-ups in the next two years across four key segments: engagement (25 percent), treatment (25 percent), diagnosis (21 percent) and infrastructure (29 percent).

Accenture’s research focused on companies with solutions across social, mobile, analytics, cloud and sensors (SMACS), technologies, which improve clinical and administrative functions and support the development and marketing of diverse and innovative offerings, from wearables/nearables and telehealth to remote monitoring and on-demand services.

The Accenture(ACN) research shows that acquiring failing start-ups enables healthcare players to reap three major benefits:

An infusion of top talent. As the healthcare industry evolves, there is a diminishing pool of qualified technical talent with capabilities in emerging areas, and so-called “acqui-hiring” from start-ups can help companies build a bench of top talent quickly – a practice prevalent among many technology companies, such as Apple, Google, Twitter and Yahoo.
Greater innovation. There were 1,700 patents between the 900 start-ups that Accenture(ACN) analyzed, so buying zombie start-ups can initiate and accelerate R&D efforts by capturing intellectual property and patents.
Bolstering existing solutions. Acquiring digital health start-ups enables healthcare companies to add new products and services that enhance their own solutions.
“In a period of disruption, leading organizations understand that they cannot keep doing the same things and expect to succeed,” Safavi said. “They must become disruptors instead of being disrupted. Acquiring a failing health IT start-up with excellent people and promising intellectual capital could be just the prescription for achieving that goal.”

About Accenture(ACN)

Accenture (ACN) is a global management consulting, technology services and outsourcing company, with more than 336,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture(ACN) collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.





View source version on businesswire.com: http://www.businesswire.com/news/home/20150813005324/en/

Source: Accenture(ACN)

Copyright Business Wire 2015

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MMRGlobal, Inc. Announces Board Approval of Reverse Stock Split

MARKET WIRE 8:15 AM ET 10/20/15

Symbol Last Price Change
MMRF 0.0045up 0 (0%)
QUOTES AS OF 10:30:42 AM ET 10/19/2015

LOS ANGELES, CA -- (Marketwired) -- 10/20/15 -- MMRGlobal, Inc.(MMRF) ("MMR" or the "Company"), a leading provider of Personal Health Records (PHRs), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced that on October 8, 2015, the Board of Directors of the Company approved a 1-for-5 reverse split of its common stock for the purpose of making available authorized common stock to allow the Company to explore and possibly enter into transactions involving strategic alliances with health information technology firms, biotechnology firms and pharmaceutical companies, as well as the potential acquisition of pharmaceutical assets and other information technology firms.

The reverse stock split has yet to be approved by the shareholders of the Company, and the Board of Directors has authorized the officers of the Company to seek such approval. If approved by shareholders, the reverse stock split must be approved by the Financial Industry Regulatory Authority (FINRA) and a new CUSIP number obtained.

About MMRGlobal, Inc.(MMRF)
MMRGlobal, Inc. (MMRF), 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, retail pharmacies, 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. 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.(MMRF) visit www.mmrglobal.com. View demos and video tutorials of the Company's products and services at www.mmrtheater.com.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the company's Form 10-K filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the company undertakes no obligation to update such statements.

CONTACT:

Bobbie Volman
MMRGlobal, Inc.(MMRF)
476-7002, Ext. 7015
[e-mail]

Source: MMRGlobal, Inc.(MMRF)