Posted by Robert Lorsch
He will tell you, “it is real, it always will be, and it exists in and beyond every corner of every alternate universe”….so says Richard Bach.
I have spent the last four years blogging about the magic inside that keeps me motivated. Many have criticized me for being a frustrated version of Richard Bach; however, nothing could be further from the truth. I write my blogs the way I do because it works for me. Some readers might say that I should focus my writing more about the business of MMR, but what fun would that be, after all, if you can’t make money and have fun is it really worth it. The fact is that when I put myself out there personally I still get lots of the comments about MMR, but I also get comments about how I make a difference in other people’s lives, and that makes me feel good.
One example is Dr. Shakil Afridi (www.freeafridi.com), who is sitting in a dungeon in Pakistan after sacrificing his family so that he could help America pinpoint the location of Osama bin Laden. Kira and I have received a landslide of worldwide press from our efforts creating a campaign to free Dr. Afridi in order to call attention to this important humanitarian crisis. As a result of our efforts and the efforts of the employees at MMR, we received worldwide coverage last week, from London’s “Daily Mail” and Page 6 of the “New York Post” to Breitbart. Being who I am allows me to run MMRGlobal, a publicly traded company under MMRF, while keeping MMR in the spotlight and giving back by calling attention to humanitarian and philanthropic issues in the world like the plight of Dr. Shakil Afridi.
Now I am going to talk about MMR and how my Bach-like belief system is turning the dream of an emerging growth opportunity into the reality of a business which could hold more than one billion dollars worth of intellectual property rights for its shareholders. MMR is a company that was founded to facilitate better care by reducing medical costs and helping save lives. MMR is a journey I embarked on as a result of my own life experiences and my fight to survive a deadly form of cancer 13 years ago which I did.
As I sit down to let my fingers do the walking, I realized that it was time to let you see how it’s possible that a person can turn a dream into a reality by simply wanting it to be so. This is the second time in my life I have entered an industry that was dominated by multi-billion dollar companies in communications or healthcare.
I entered both opportunities as the underdog, first competing in telecommunications, then health IT. The first time, based on will and determination, I knew I won big when I went public standing on the floor of the Nasdaq. This time I know we are winning based on the fact that we continue to hit consistent singles in the healthcare business and doubles and triples with our health IT and biotech patent portfolios.
So let’s travel to behind the curtain in Oz so you can actually see what the future could have in store for all of us. I believe that when you resist change you are stuck with what you have. So in my world, I never resist change and I am always exploring places to visit on a never-ending canvas. Despite an extraordinary, unexplainable trading range in our stock, the direction is clearly up. MMR’s world promises to continue coming alive with a high quality group of strategic partners and customers. We no longer have to beat people over the head to get them to use a Personal Health Record. Now we can focus on delivering products and services. So as a result of consumer and professional awareness of PHRs and requirements to deploy them, we should begin to see revenues from operations and licensing far greater that any projected in the past.
E-Health is finally a reality of our time just like the evolution of other industries like credit monitoring services (which took forever to evolve), online banking services (which took forever to evolve), online travel services (which took forever to evolve), and online retail (which took forever to evolve). E-Health is now fast becoming a way of life. And after eight long years, MMR is well positioned to benefit from that industry growth by exploiting the marketplace, much like Amazon did in retail, PayPal in payment processing, and eBay in auctions and commerce, to name only a few.
As CEO of the Company, I could not be more excited about how this year is progressing, and all the things that lie ahead. For those who have followed this company since inception, when I have said, “the best is yet to come,” it means just that. For example, last week we spent a half-day in meetings with Sodexo regarding PHR offerings and an MMRPro distribution program internationally. We also met with representatives of the new employee owners of Kodak, who paid us a visit to help celebrate their purchase of Kodak’s Document Imaging business and other assets. This means supply lines from Kodak in the future for MMRPro has never looked better.
Our relationships with all our strategic vendors and partners are excellent; from Nihilent to ng Connect to Unis-Tonghe, and Interbit Data, Fujitsu, Kodak, and many others. We continue to make significant progress in Australia and, in fact, one of our larger Australian strategic partners was in Los Angeles over the weekend helping us prepare for meetings with government officials in Australia next month. We are also getting close to significant announcements in Singapore.
During the week, we continued ongoing dialogue with WebMD and we met with Quest Diagnostics at their offices near San Diego. While we work through strategic business opportunities with both WebMD and Quest, we are also in meaningful conversations with half of the top 10 EMR vendors, including McKesson and Cerner, with whom the Company has already enjoyed a five-year licensing relationship. We are also getting closer to a major announcement with a wireless carrier where healthcare continues to be a major priority and agenda item. In all cases, and with all these opportunities, the Company continues to actively pursue other licensing and strategic business opportunities both here and abroad, as evidenced by last week’s announcement about the Middle East.
And to the extent relationships involve more than strategic conversations, we are keeping the investment banking team at B. Riley very busy. While all this goes on, the Company continues filing additional patent infringement and trademark actions.
Speaking of patents, the Company’s United States health IT portfolio has recently been re-valued to add Japan which increased it to as much as $1.3 billion. As yet, the Company does not have a valuation on Australia, Singapore, South Korea, Hong Kong, New Zealand, Mexico, Canada, Israel, and European nations which when added could increase the number significantly. Australia and Singapore are currently the subject of active investigation into infringement matters at this time. http://phx.corporate-ir.net/phoenix.zhtml?c=178404&p=irol-newsArticle&ID=1815638&highlight .
The MMR Patent Portfolio was created about the same time that the Office of the National Coordinator for Health Information Technology was formed. The MMR Patent Portfolio was granted over nearly an eight-year period of time as part of a multi-million dollar effort to create shareholder value through the ownership of patents and other intellectual property in 12 countries around the globe. Because there are thousands of patented products in every healthcare professional’s office and hospital, from the design of a handle on a scalpel to components of the most sophisticated imaging equipment, the healthcare industry has shown it respects the patent system, and, based on our experience so far, we feel good about our ability to license and monetize these patents on behalf of our shareholders. In fact, we are not aware of a situation where an industry has paid so much attention to the value of a patent portfolio since Samsung and Apple went to court, which further makes us feel good about the future.
The fact that the MMR patents are the subject of worldwide media attention, and in the United States alone, the Company believes that more than 3000 hospitals and healthcare providers do, or will, infringe on the Company’s IP by the end of 2014, should make for a very good next few years.
In closing, my favorite Bachism is, “You are never given a wish without the power to make it true. You may have to work for it, however.” So Kira, I am sorry I will be late for dinner tonight.
Leave a Reply
You must be logged in to post a comment.