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Healthcare Company News 
MyMedicalRecords, Inc. MMR Information Systems Announces Restructuring of Credit Facility With The RHL Group, Inc.
MyMedicalRecords, Inc. MMR Information Systems Announces Restructuring of Credit Facility With The RHL Group, Inc.
MMR Information Systems Announces Restructuring of Credit Facility With The RHL Group, Inc.
Friday, 01 May 2009 04:52 | 
| Company News - MyMedicalRecords, Inc. |
MMR Information Systems, Inc. announced that MMR and The RHL Group, Inc. agreed to restructure MMR's current credit facility with The RHL Group, Inc.
MMR Information Systems, Inc. (OTCBulletinBoard: MMRF) , which through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (collectively, "MMR") provides consumer-controlled Personal Health Records ("PHRs") (www.mymedicalrecords.com) and electronic safe deposit box storage solutions (www.myesafedepositbox.com), announced that MMR and The RHL Group, Inc., a corporation wholly owned by Robert H. Lorsch, the Chairman, President and Chief Executive Officer of MMR and a significant stockholder of the company, agreed to restructure MMR's current credit facility with The RHL Group, Inc. Details will be provided in a filing to be made with the SEC on Monday, May 4, 2009.
"This restructuring is a reaffirmation of my commitment and belief in the future of this company," Mr. Lorsch stated. "It is clear that health IT and particularly personal health records are going to be as mainstream as a personal credit report. Everyone should have one and most will ultimately get one. Being in the right place at the right time is key to every corporate success story. In three of MMR's markets -- the United States, Canada and Japan -- over 50 billion dollars of governmental incentives have been dedicated to information technology, a significant portion of which includes health IT related to electronic medical records and personal health records. Given that our www.mymedicalrecords.com site is available in Spanish, MMR is also positioned to launch in Mexico where there is a critical need for electronic personal health records. And now, with the world on the edge of a pandemic, the importance of a personal health record and an ESafeDepositBox could not be clearer."
MMR also announced that Mr. Lorsch has agreed to exercise all of his 2,464,816 outstanding options no later than May 1, 2009. According to Mr. Lorsch, "Exercising all of my stock options helps the financial position of the company while providing me with favorable tax treatment for any subsequent appreciation." Mr. Lorsch noted that the shares of common stock that he receives upon exercise of the options will be restricted securities and that he has no current intention to sell them.
About MMR Information Systems, Inc.
"This restructuring is a reaffirmation of my commitment and belief in the future of this company," Mr. Lorsch stated. "It is clear that health IT and particularly personal health records are going to be as mainstream as a personal credit report. Everyone should have one and most will ultimately get one. Being in the right place at the right time is key to every corporate success story. In three of MMR's markets -- the United States, Canada and Japan -- over 50 billion dollars of governmental incentives have been dedicated to information technology, a significant portion of which includes health IT related to electronic medical records and personal health records. Given that our www.mymedicalrecords.com site is available in Spanish, MMR is also positioned to launch in Mexico where there is a critical need for electronic personal health records. And now, with the world on the edge of a pandemic, the importance of a personal health record and an ESafeDepositBox could not be clearer."
MMR also announced that Mr. Lorsch has agreed to exercise all of his 2,464,816 outstanding options no later than May 1, 2009. According to Mr. Lorsch, "Exercising all of my stock options helps the financial position of the company while providing me with favorable tax treatment for any subsequent appreciation." Mr. Lorsch noted that the shares of common stock that he receives upon exercise of the options will be restricted securities and that he has no current intention to sell them.
About MMR Information Systems, Inc.
