$4.5 MILLION IN NEW BUSINESS
Satisfied Customer Places Orders for Three More Stand-Up MRIs, FONAR's 69th, 70th and 71st Stand-Up MRI Sales
Wednesday March 17, 7:00 am ET
MELVILLE, N.Y.--(BUSINESS WIRE)--March 17, 2004--FONAR Corporation (Nasdaq:FONR - News), The MRI Specialist(TM), announced today that Medevelop, Inc., a San Bernardino, California company that has already purchased two Stand-Up(TM) MRIs, has purchased three more, bringing its total number of Stand-Up(TM) MRI purchases to five.
On March 4, 2004, FONAR announced the sale and installation of a Stand-Up(TM) MRI to Hallmark MRI which is owned and operated by Medevelop. Mr. Eric Reints, Chief Operating Officer of Medevelop, said, "We have been operating our first FONAR Stand-Up(TM) MRI for three months and we are very enthusiastic about it. Since the majority of MRI scans are performed on the spine and since the Stand-Up(TM) MRI is the only scanner that provides a complete picture of the spine, it gives FONAR Stand-Up(TM) MRI users a competitive advantage that cannot be matched in any other way. Position(TM) Imaging (pMRI) is a very powerful tool."
Mr. Reints continued, "While there may be plenty of MRI scanners in California, they all share the same inherent disadvantage: they can only scan patients lying down with something in front of their face. Though many of these recumbent-only scanners produce images of outstanding quality like the FONAR Stand-Up(TM) MRI, they are unable to detect pathology that can be seen only when the patient is scanned upright or in the position of symptom. Furthermore, virtually every patient is happy to be scanned on the Stand-Up(TM) MRI, something which is a real problem on all other MRI scanners."
"FONAR has done an excellent job for us at our San Bernardino facility," said Mr. Reints. "The installation process went very smoothly, with FONAR meeting all milestones as required in a very timely and professional manner. The image quality and performance of our machine have exceeded our expectations. We are confident that our purchase of several more Stand-Up(TM) MRIs for California is the right business decision. We will be installing them in the Natomas area of Sacramento, Rancho Cordova/Sacramento, in the LaQuinta/Indio area near Palm Springs and Riverside." Medevelop's first Stand-Up(TM) MRI is now in operation at Hallmark MRI, located at 4130 Hallmark Parkway in San Bernardino, California (909) 473-1944).
Raymond Damadian, president and founder of FONAR said, "When a customer like Medevelop decides to purchase multiple systems, it speaks very well of the entire FONAR team. Our support for our product and our customers and the unique capabilities of the Stand-Up(TM) MRI are now being recognized across the country."
The Stand-Up(TM) MRI, which scans patients sitting, standing, bending or lying down, has detected pathology that had gone undetected on conventional lie-down MRIs. With its front and top open design the FONAR Stand-Up(TM) MRI provides the most patient comfort of any MRI in the industry.
MRI Specialist, Stand-Up, Upright, Position, pMRI and The Proof is in the Picture are trademarks of FONAR Corporation.
Be sure to visit FONAR's Web site for Company product and investor information: www.fonar.com. |
