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MMRGlobal (MMRF) Receives $30M Patent Licensing Proposal from Surgery Center Management

MMRGlobal Inc., through its wholly owned operating subsidiary MyMedicalRecords Inc. (NYSE:MMR), provides online personal health records and electronic safe deposit box storage solutions for consumers, healthcare professionals, employers, insurance companies, financial institutions, among others. The company today announced it has received a license proposition from Surgery Center Management LLC (NYSE:SCM) for a minimum of $30 million plus additional royalty fees.

SCM proposes to license certain MMRGlobal Health Information Technology and Personal Health Record patents, excluding MMRGlobal’s biotech assets and related intellectual property on which the company has spent more than $100 million in development costs.

Per the proposed agreement, MMR would issue a limited non-exclusive, non-transferable, sub-licensable license for its proprietary processes relative to MMRGlobal’s portfolio of Health Information Technology patents, which includes the product line for patients; and the MMRPro electronic document management and imaging system for physicians, small hospitals and surgery centers.

In addition to its line of healthcare-related patents, MMRGlobal also has a portfolio of biotech assets that it acquired through a reverse merger with Favrille Inc. in 2009. This portfolio includes biotech patents, intellectual property and patient samples which MMR is working to license to biotech companies, universities and others.

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