FONAR Sells 14 Stand-Up MRIs for $19.6 Million Since June 1st; Half of Summer Stand-Up MRI Sales to Surgeons
MELVILLE, N.Y.--(BUSINESS WIRE)--Sept. 4, 2003--FONAR Corporation (NASDAQ:FONR), The MRI Specialist(TM), reported today that during the Summer months of June, July and August, the Company sold 14 FONAR Stand-Up(TM) MRI scanners. Most of the $19.6 million in revenues from these sales is expected to be recognized during the fiscal year ending June 30, 2004. The 14 sales represent a quarter of the 56 Stand-Up(TM) MRI sales to date. The Stand-Up(TM) MRI is an Upright(TM) imaging system by FONAR.
"Seven of the 14 sales were to surgeons," said Dr. Raymond Damadian, president and founder of FONAR. "Surgeons are buying the Stand-Up(TM) MRI because it is an indispensable tool that gives them the complete picture of what they face at surgery and what their surgical procedures must address. Without the Stand-Up(TM) MRI, the surgeon is at a disadvantage. The FONAR Stand-Up(TM) MRI removes the guesswork."
One of the surgeons, Dr. Rahul Nath, M.D., said this about his purchases of the Stand-Up(TM) MRI from FONAR. "My decision to order three Stand-Up(TM) MRIs in less than 60 days is based on the product's enormous potential to dominate the field of MRI. In my opinion, Position(TM) MRI is the future of the industry. The Stand-Up(TM) MRI is revolutionary technology, and I am very excited to be involved with it early on. If anyone is thinking seriously about Position(TM) MRI, now is the best time to get on board."
Another surgeon said, "Often, a patient's symptoms manifest only when the patient is in a particular position or posture. We have selected the Stand-Up(TM) MRI because it is the only scanner that allows us to place the patient in whatever position necessary to reproduce the symptom. Once the patient is in that position, only then can the MRI show us exactly what is causing the problem. Pathology that is undetectable with the patient lying down, but evident when the patient is, say, sitting up, can now be accurately assessed. For example, what a recumbent MRI might see only as a minor bulge, may be an obvious disc protrusion with the patient upright. The Stand-Up(TM) MRI allows physicians to consistently and confidently determine the best treatment plans for all their patients."
The Stand-Up(TM) MRI is the world's only whole-body MRI scanner with the ability to perform Position(TM) Imaging (pMRI(TM)), i.e. patients can be scanned standing, sitting, bending or lying down. With its unique ability to scan patients in weight-bearing postures, the FONAR Stand-Up(TM) MRI has identified pathology that had gone undetected on conventional, lie-down MRI scanners.
Because of its unique geometric design, the FONAR Stand-Up(TM) MRI is remarkably spacious and non-claustrophobic. There is nothing in front of the patients' faces or over their heads to create a "closed-in" feeling. Patients typically sit comfortably watching a 42" TV throughout the scanning procedure.
MRI Specialist, Stand-Up, Upright, Position Imaging and pMRI are trademarks of FONAR Corporation
Be sure to visit FONAR's Web site for Company product and investor information: fonar.com
CONTACT:
FONAR Corporation
Daniel Culver / David Terry, 631-694-2929
FONARinvestor@fonar.com
SOURCE: FONAR Corporation |
