MMRGlobal, Inc. is scheduled to release financial results for the quarter ending June 30, 2010 after the closing bell today. The Company expects to exceed expectations for the first six months of 2010.
What can be spurring the anticipated rise in financial numbers? While sales have been moving forward for MMRGlobal on their own, perhaps some more answers to this question can be obtained from the recent letter to the MMRF shareholders that was released earlier this month. The letter stated, “In the entertainment industry, 2012 was the name of a major motion picture. In China, 2012 will be the Year of the Dragon. At MMRGlobal, 2012 will be the Year of the Personal Health Record (PHR).” This concept stems from fact that 2012 is the year that the health care professionals will be required to provide Personal Health Records to patients as part of compliance with Meaningful Use. This restructuring of the healthcare system is providing ongoing opportunities for uses of MMRGlobal products and services to consumers, healthcare professionals and corporations.
The shareholder update also detailed the great depth of the partnership with Kodak and the market exposure that the MMRPro system will be receiving as a result of the partnering. Kodak will be promoting MMRPro in merchandising and marketing material, coverage in their newsletter and through numerous expanded distribution strategies and joint sales and marketing opportunities. MMRGlobal will also participate with Kodak in an expanding tradeshow schedule to further promote the proprietary system.
In addition to ongoing developments directly with Kodak, National Payment Providers, an industry-leading provider of end-to-end electronic payment processing solutions, will also begin presenting MMRPro to its database of more than 160,000 physician billing clients with delivery and installation support from Kodak starting later this year.
The MMRGlobal relationship with Chartis International was also briefly discussed in the shareholder update regarding sales of the newly redesigned MyEsafeDepositBox and MyMedicalRecords both nationally and internationally. Chartis is a world leader in insurance backed by 90 years of underwriting experience with more than 34,000 employees who serve more than 40 million clients in over 160 countries and jurisdictions. MMRGlobal expects announcements to come in the first quarter of 2011 on developments and growth that will be attributed to the relationship with the worldwide insurance giant. Other ongoing efforts to launch the Company’s products internationally are currently being exercised in China with meetings scheduled in October to meet with partners in India to begin rolling out products there as well.
Commenting on the recent developments, Mr. Lorsch stated in a recent press release, “We are continuing to execute on our business plan, expanding globally, moving offices, and doubling the size of our IT infrastructure in the United States while deploying development resources in China.” He continued, “We’re excited about the interest in MyEsafeDepositBox from financial institutions. We are actively involved in pursuing M&A opportunities in our core business of personal and electronic health records and patent opportunities with our biotech assets. Additionally, next week we will launch the first-ever online promotion program to consumers designed to encourage them to better health by activating a MyMedicalRecords Personal Health Record account (www.mmrvideos.com).”
With an experienced team of professionals that have been working together for a combined 175 years, MMRGlobal is pushing forward at a relentless pace. The Company is also well financed with access to up to $10 million in capital to continue the push of their business strategies. The capital will provide resources for development, marketing and sales of products to consumers, health care professionals, corporate and affinity clients worldwide.
As growth continues naturally for MMRGlobal, the partnerships that are being established certainly seem to help in driving sales as well. With internationally recognized companies joining forces to promote the Company’s products, the MMRGlobal team anticipates continued increases in the revenues as the “Year of the Personal Health Record” approaches.
More information on MMRGlobal, its products and the investment opportunity presented by MMRF can be found on the Company’s website at www.mymedicalrecords.com.