MMR Information Systems, Inc. has been gaining a reputation for providing consumer-controlled Personal Health Records and electronic safe deposit box solutions. MMRF, which operates through its wholly-owned subsidiary MyMedicalRecords (MMR), took a major step towards enhancing its future with the announcement that it has entered a five year agreement to license an existing 80 million person direct marketing database of street addresses, cellular phone numbers, e-mail addresses and other comprehensive data with E-Mail Frequency, LLC (the “Licensor”).
The Agreement allows MMR to market, through the use of the Database, its MyMedicalRecords Personal Health Record, MyEsafeDepositBox virtual vault, and MMRPro document management system to physicians and their patients. According to the press release, the Company will have access to at least 20 million addresses per month and be able to use the Database for traditional direct mail marketing, as well as e-mail and text marketing.
MMRF has agreed to pay $250,000 to the Licensor as a one-time license fee in the form of restricted common stock in addition to a percentage of actual revenue from conversions to MMP product offers. Individuals are able to unsubscribe from the list immediately. Regularly cleansing its Database for accuracy, the Licensor adds as many as five million new names every month, ensuring that MMR will have access to new prospects throughout the term of the Agreement. Under the terms of the Agreement, the Licensor also agrees not to allow any company that competes with MMR to utilize the Database list.
When asked about the impact of this partnership, Robert H. Lorsch, Chairman and CEO of MMR Information Systems, Inc. was quoted as saying, “We believe this Agreement could potentially save us millions of dollars a year in direct response marketing costs to access and mail to this large of a database, particularly when you consider that we have the ability to select, test and rollout programs to specific market segments that would be most likely to respond to an offer for an MMR Personal Health Record, MyEsafeDepositBox or the MMRPro system. The Agreement will also allow the Company to mail segments of the list on behalf of MMR clients to support their marketing and sales of the Company’s products. Just as important, the Agreement is structured so that MMR pays based only on actual revenue, which allows the Company to ensure the best possible ROI on marketing costs.”
Davis Loftus who serves as Managing Partner of E-mail Frequency stated, “We see Health IT as one of the most dynamic sectors in the marketplace. Participating in the growth of the MyMedicalRecords service offerings seemed to be a much more valuable opportunity for E-mail Frequency than selling selects from the list to competitive healthcare companies.”
The partnership referred to above is for more than one billion consumer impressions and may make the stock of MMRF soar. Currently, the stock is trading over-the-counter in the $0.008-0.09 range. With continual positive news coming from company headquarters, it may only be a matter of time before this stock takes a major stride.
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