LOS ANGELES, CA - MMRGlobal Inc. announced in a press release that the Company will report retailer-driven revenue in the fourth quarter 2014 from Patent Agreements, in addition to the previously disclosed licensing agreements with the nation's largest pharmacy retailer, which substantially increases MMR's previously disclosed retail distribution channel that includes access to more than 15,000 US retail locations, 2,000 international locations, and 50 million monthly online visitors. MMR has already received initial revenues from the signing of the agreements related to the increased distribution network during the period ended December 31, 2014.
MMRGlobal also announced 2014 was the highest revenue year in the Company's history and that MMR continues to actively pursue strategic opportunities with partners who have the financial resources to make large investments in MMR's technology products, services and Intellectual Property. As part of that, the Company is in the process of completing another Patent Agreement and strategic partnership with a major healthcare provider. Additional details will be announced when the terms of that agreement are finalized.
The Company also announced that three appeals filed earlier this month in the United States Court of Appeals by MyMedicalRecords, Inc., a wholly owned subsidiary, pertaining to recent District Court actions have already been consolidated into one case which the Company believes will speed up the Appellate process. MMR also disclosed that it is in discussions with defendants in those actions and others where the Company has existing Patent Agreements regarding strategic opportunities, licensing and/or other relationships with MMR.
MMR's health information technology patent portfolio, which dates back to filings in 2005, currently includes 13 US patents (with over 300 issued claims), 19 additional pending US patent applications (with over 300 claims), 11 foreign patents, including two in Australia, three inMexico, two in South Korea, with others in New Zealand, Singapore, Japan and Canada, and 23 other pending patent applications in foreign countries. Recent District Court decisions involving two of MMR's U.S. patents did not affect the Company's foreign patents nor other health information technology patents. With the exception of any information released by the Company, all of MMR's domestic and foreign patents remain in full force. As such, MMR will continue to pursue opportunities to license its Intellectual Property where appropriate in the burgeoning health information technology marketplace and sell its proprietary products and services to healthcare professionals and pharmacy chain retailers.
Based on increased 2014 revenues generated from its Intellectual Property, MMRGlobal has been provided with the ability to continue to expand into new product lines while pursuing current and future licensing involving MMR's health information technology services and, additionally, leveraging the Company's biotech assets which it acquired through a reverse merger with biotechnology company Favrille, Inc. in 2009.
MMRGlobal, Inc., 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.