Posted by Robert Lorsch | Filed under Posts by Robert Lorsch
Being CEO of a company is anything but boring. Who would have thought that each $2,000 invested as founders’ capital into a publicly traded company which I co-founded and ran, would someday be worth ten million dollars in only three years, as it did. It proves the adage that good things are worth waiting for, and it looks like a similar story awaits at MMRGlobal. Who would have thought that MMR would evolve into a Company owning a portfolio of Health IT and Biotech assets valued at as much as a billion dollars, not including the value of patents in twelve additional countries http://michaelbass.com/PDF/Patent_Valuation.pdf .
For those who have been there and supported the Company since the beginning in 2005, thank you. As we head into the 2013 Super Bowl weekend the one thing not to bet against is the future of Health IT and MMR’s role in it.
What keeps my life exciting is that MyMedicalRecords has only just begun. That’s because the Meaningful Use requirements that mandate patients receive online access to their Personal Health Information takes effect in 2014.
MMR is a company that took a big risk fostering ideas that were hatched before their time. And there are advantages to being the early first mover. We benefited with great inventions that resulted in 7 US patents, plus continuation patents and pending patents, and more patents in countries around the world, with nearly 400 U.S claims, and hundreds more internationally. In fact, MMR has additional patents issued, pending and applied for in Australia, New Zealand, Singapore, Mexico, Canada, Europe, Israel, Japan and South Korea. If MMR were in a Master Charge commercial, its intellectual property would be described as PRICELESS!
Working with legal counsel, we have spent the past year pursuing license agreements and strategic relationships for the use of MMR’s Health IT patents and other Intellectual Property. The industry is recognizing the value of our IP and the Company has already entered into licensing and strategic business relationships.
We believe our patents increase the bar, making it difficult for hospitals, physician groups, healthcare professionals and vendors of Personal Health Records and patient portals to sell their products and services without infringing on MMR’s IP.
And while MMR owns a significant portfolio of health information technology IP, the Company also owns biotech assets, samples and patents created at a cost of more than $100 million and which are already the subject of a $13 million license agreement with a major biotech company.
Meanwhile, the next 30 days promise to be one of the most exciting periods in MMR’s history. On February 10th I am scheduled to attend a series of major customer meetings in Pennsylvania and MMR is hosting a dinner for carriers and payers representing more than 100 million lives.
On the 11th and 12th I attend meetings in Washington DC with representatives from Congress to discuss the use and effectiveness of more than $10 billion in paid out stimulus monies and other opportunities to improve care and reduce costs in preparation for future hearings. While there, I also plan on meeting with affinity groups representing seniors, emergency preparedness and other existing association clients of MMR.
Then, it’s two days in New York, where the Company will be telling its story to institutional investors and entertainment conglomerates interested in incorporating interactive health with broadcast and online programming.
Then back to Los Angeles to prepare for HIMSS 2013, which starts March 3rd in New Orleans to more than 40,000 projected attendees and is featuring a keynote address by President Clinton http://www.himssconference.org/. I am proud to be part of a company that participates in the future of healthcare today. Although it’s too late to bet on the Super Bowl, it’s not too late to bet on the Future of Health IT.
Robert H. “Bob” Lorsch, CEO, MMRGlobal
4401 Wilshire Blvd., 2nd Floor, Los Angeles, CA 90010
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