SAN DIEGO--- Favrille and MyMedicalRecords.com, Inc. Plan to Complete Merger in January 200
Favrille, Inc. (BULLETIN BOARD: FVRL) and MyMedicalRecords.com, Inc. ("MMR"), a health information company focused on secure Web-based storage of electronic Personal Health Records (PHRs), announced today that their merger is now expected to close in January 2009.
"As we had announced earlier this month, two significant conditions for closing the merger, MMR's stockholder vote and settlement with creditors holding more than 85% of the dollar value of all of Favrille's known creditor claims, have been accomplished," said John P. Longenecker, President and CEO of Favrille. "We are now pleased to announce that a third significant condition, completion of the audit of MMR's financial statements for the years ended 2005 through 2007 is well underway with completion expected in early January. We anticipate closing the transaction in January 2009."
The merger is subject to customary closing conditions including Favrille meeting certain minimum cash requirements as of closing. The audited financial statements for MMR will be available shortly after closing.
Additional Information about the Merger and Where to Find It
On November 13, 2008, Favrille filed a Current Report on Form 8-K with the SEC that includes copies of the definitive merger agreement and other related agreements as exhibits. A copy of the Form 8-K, as well as other filings containing information about Favrille, is available without charge, at Favrille's website (http://www.favrille.com/) and the SEC's website (www.sec.gov).
About MyMedicalRecords.com, Inc.
MyMedicalRecords.com (MMR) provides secure and easy-to-use Web-based Personal Health Records and Electronic Safe Deposit Box storage solutions to consumers, healthcare providers, employers, insurance companies and professional organizations. MMR is 100% user-controlled and allows individuals to access their personal medical records and other important documents such as wills, insurance policies and financial records anytime from anywhere using an Internet-connected computer. Based on proprietary patent-pending technologies, MMR enables documents, images and voicemail messages to be transmitted in and out of the system using a variety of methods, including fax, file upload and e-mail. For more information, visit http://www.mymedicalrecords.com/.