This is a real interesting merger with a biotech company patient-specific immunotherapies for the treatment of cancer and other diseases of the immune system merging with a company that provides personal health records, both companies from California. Favrille is involved in clinical trials as well, so this might be an effort to possibly include software that could eventually be used in the enrollment and information processing, but a guess on my part here, so don’t hold me to it.
MyMedicalRecords has not shown a profit yet and has a system set up whereby records can be faxed to the personal health chart, and they have integrated with Google Health, so one more for personal health records. BD
SAN DIEGO, Nov. 10 /PRNewswire-FirstCall/ -- Favrille, Inc. (OTC Bulletin Board: FVRL) and MyMedicalRecords.com, Inc. ("MMR"), a pure-play health information company focused on secure Web-based storage of electronic Personal Health Records (PHRs), announced today the signing of a definitive merger agreement. The merged company will be focused on continuing to build and develop the MyMedicalRecords.com brand as the premier online PHR for consumers and health care professionals. "We believe that the proposed merger of Favrille and MMR is consistent with our objective of offering our creditors and stockholders the best available outcome and will result in an organization that is uniquely positioned to fulfill an unmet need at this time when so much of the attention on healthcare costs in the U.S. is focused specifically on the burden of administrative costs and the widely-held belief that personal and electronic health records are crucial to reducing those costs," said John P. Longenecker, President and CEO of Favrille, Inc.