LOS ANGELES, CA — (Marketwire) — 12/23/11 — (OTCBB: MMRF) (“MMR”) today announced that it has reached a final agreement on an amended Articles of Association for Unis Tonghe MMR International Health Management Service Co., Ltd. (the “Chinese JV”) with its Chinese Joint Venture partner, Unis-Tonghe Technology (Zhengzhou). The Articles of Association are required by Chinese law and, upon approval by the Chinese Government, pave the way to formally opening for business in 2012. In China, the Articles of Association represent the operating framework for the 50 year US/China Joint Venture, which is being submitted to the Chinese Government for approval immediately. The plan spells out the formal operating plan for the JV. Unisoft Group, Unis-Tonghe Technology (Zhengzhou) Co., Ltd Vice President and Chairman, Luo Jianhui, and MMRGlobal Chairman and CEO Bob Lorsch will meet at the 2012 Annual HIMSS Conference & Exhibition in Las Vegas, NV, from Feb. 20-24, at the Sands Expo Convention Center regarding the JV and to meet with possible strategic partners in China who will be attending the show.
The Company-s application to form the Unis Tonghe MMR International Health Management Service Co., Ltd. was approved by the Chinese Government earlier this year. Law firms for the two companies have been working on the formal operating plan for the Chinese JV for the past six months. Under the Joint Venture, Unis-Tonghe and MMRGlobal will be selling and operating MMR-s patented websites and as well as other MMR and Unis product and service offerings in Chinese on the Unis Medical Clouds Service.
MMRGlobal announced the signing of a definitive Agreement to form the Joint Venture in January 2010. The Company is informed and believes that certain features and processes created for MMRPro () and the MyMedicalRecords.com Personal Health Record () can be incorporated by the Chinese JV into numerous government and private hospital health IT and Electronic Medical Record programs in China, including those currently being developed in Henan Province on the Unis Cloud Service. Henan Province is one of the largest provinces in China with nearly 100 million citizens.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (“MMR”) (), 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. MyMedicalRecords 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. The MyMedicalRecords Personal Health Record 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 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. and its products, visit .
Statements in this press release that are not strictly historical in nature, including 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,” and “continue,” or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the risk the Company-s products are not adopted or viewed favorably by the healthcare community, both nationally and overseas; timing of the Joint Venture with Unis-Tonghe Technology (Zhengzhou) and approvals by the Chinese Government; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; the Company-s capital structure; product integration in physician practices and hospitals both in the U.S. and internationally; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product introductions; ability to establish and maintain strategic relationships; ability to identify and integrate acquisitions; 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; maintaining, developing and defending our intellectual property rights including those pertaining to our biotechnology assets; 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. Additionally, we are a developing early-stage company and many variables can affect revenues and/or projections, including factors out of our control. 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.
CONTACT:
Michael Selsman
Public Communications Co.
(310) 553-5732
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