MMRGlobal announces patent valuation increase
Japan's Patent Office issued the patent for MMR's "Method and System for Providing Online Medical Records" on February 8. The Michael Bass Research Group featured the patent in an updated valuation report, increasing the patent's valuation from its initial value range of $600 million to $1.1 billion up to a value range of $800 million to $1.3 billion.
MMR's patent includes 40 claims related to accessing health records through a website, applying added password protection, collecting health records directly from healthcare providers, managing health records and electronically sending health records to healthcare providers. The patent is relevant to the Japanese market after the country launched its My Hospital Everywhere program for personal health records.
The My Hospital Everywhere program is meant to help Japanese individuals receive their own health information from medical institutions and maintain it electronically. Following the earthquake and tsunami in Japan on March 11, 2011, the Japanese medical system was overwhelmed with thousands of people in hospitals and medical offices with no records, resulting in thousands of unnecessarily lost lives.
"Physicians have had a hard time identifying patients' medications since patients often remember their medications only by their shape or color," Makoto Aoki, a scientific executive at Sakura Seiki Co., Ltd., said. "Most of the hospitals that patients had attended also lost their medical records as a result of the earthquake or tsunami."
MMR's personal health records systems allow for the tracking and management of a patient's medication database.
MMR's patent portfolio contains patents and pending applications in Japan, Israel, South Korea, Hong Kong, Canada, Mexico, New Zealand, Singapore, Australia and several European nations.