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Microcap & Penny Stocks : Fonar - Where is it going? -- Ignore unavailable to you. Want to Upgrade?

To: telephonics who wrote (15073)	8/18/1999 8:34:00 AM
From: BlueCheap	Read Replies (2) \| Respond to of 19354

FONAR Subsidiary Reports New Profitable Imaging Center MELVILLE, NY--(BW HEALTHWIRE)--Aug. 18, 1999--FONAR Corporation (NASDAQ:FONR - news), The Open MRI Company(TM), officially reported today the status of a new FONAR-equipped MRI scanning facility in Dublin, Georgia. Dublin MRI, P.C., in business only several months, has already become a profitable center, a remarkable achievement for a freestanding diagnostic imaging center. The facility is managed by Health Management Corporation of America (HMCA), FONAR's physician practice management subsidiary. The center is located just 20 miles from Macon, Georgia where Dr. Raymond Damadian, president and chairman of FONAR, set up his very first MRI scanning center ten years ago. According to Dr. Damadian, ''The choice of Dublin for a new location was an easy one. Nearby Macon MRI, P.C. had earned a reputation for fast service, quality imaging and a truly open and patient-friendly MRI scanner. Satisfied referring physicians and patients had spread the word beyond the immediate Macon area. So when the need for MRI services in the neighboring Dublin area became apparent, it was just a matter of installing another Open FONAR MRI. The word-of-mouth marketing in the existing physician network allowed us to hit the road running.'' Timothy Damadian, president of HMCA, added, ''The installation of FONAR equipment as the result of the growth, reputation and proper management of HMCA-managed centers, as is the case in this instance, is a perfect example of the natural synergy between FONAR and its subsidiary.'' Dublin MRI is data-linked to +MEDIC Vision, the HMCA's wide area network (WAN) medical billing system, which is located at headquarters in Melville, New York. HMCA now manages 37 primary care practices, multi-specialty practices and diagnostic imaging centers in New York, Florida, Pennsylvania, and Georgia. This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission. Contact: Daniel Culver, Director of Communications and David Terry, VP, Secretary