I work with several hundred folks who came through the Katrina debacle and they are still picking up the various pieces of their lives. The most common stumbling block to re-entering their lives is establishing administratively acceptable evidence for things, like insurance claims, disaster relief and so forth. I do not think there would be a special reason for the medical records portion of this device, but the basic idea, if you captured your important documents, perhaps even notarize copies and then scanned into something common like Adobe and loaded on a thumb-drive...
Of course they are not a solid substitute for the real thing, but when trying to prove to FEMA that you lived at such-and-such address and you actually need temporary housing, it could be useful. Further, since I talking about things like wills, deeds, receipts, I am not wrroying about having to up date often since the records generally wouldn't change.
As far as this specific product, awfully pricey for a $20 USB drive and my medical records just don't have anything so significant in them that this would be of interest to me or any of my immediate family. Have a dogtag stamped or a medic-alert bracelet/necklace if you have something that critical. Just my two cents and probably not even worth that...
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The fox knows many tricks; the hedgehog, one good one. - Aesop