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July 27, 2012

RHL Group Increases Credit Line of MyMedicalRecords to $4.5 Million

By Anil Sharma, TMCnet Contributor


MMRGlobal, Inc., a provider of Personal Health Records (PHRs) and electronic document management and imaging systems for healthcare professionals, has said that The RHL Group, Inc. will increase the credit line of MyMedicalRecords, Inc., wholly-owned operating subsidiary of MMRGlobal, by $1.5 million to a total of $4.5 million.

Officials with MMRGlobal said that the increased credit facility will help the company with sales and marketing of its MyMedicalRecords patented Personal Health Record and MMRPro professional products and services as well as continue ongoing talks with potential strategic partners to add to and exploit its biotech portfolio.

According to company officials, the company is also working on identifying a chief science officer to help manage and license existing biotech assets including patents, patient samples and other related intellectual property and other opportunities.

Robert H. Lorsch, MMRGlobal's chairman and CEO, is also CEO of The RHL Group, Inc.

"eHealth is clearly becoming the standard for the future of healthcare. Based on the Company's eHealth and biotech patent portfolios, I believe the company is severely undervalued at this time. I cannot think of a better way to communicate my support and enthusiasm for MMR's future than to increase its RHL Group credit line by 50 percent. As a result of the passage of the HITECH Act, having a Personal Health Record will someday be as important as having a credit report," said Lorsch, in a statement.

According to company officials, the company sells its personal health record products and services direct to consumers and healthcare professionals, employers, affinity groups, nurse advocates, senior care providers and retailers.

The company sells its MMRPro document management and imaging systems to physician group practices, ambulatory surgery centers and small hospitals.

MMRGlobal is considered to be a major provider of personal health record services. The company is uniquely positioned to capitalize on the rapid growth of health IT and the national and worldwide adoption of eHealth solutions and services as it owns the underlying technology and numerous patents issued pending and applied for globally in the healthcare IT sector.

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Edited by Rich Steeves


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