To: Stock Watcher who wrote (29425 ) 3/15/2000 4:06:00 AM From: BlueCheap Read Replies (1) | Respond to of 52051
NEWS! 3/15/00 FONAR Makes MRI Sale to Texas Imaging Center! FONAR's New National Distributor Makes First MRI Sale; Texas Imaging Center Purchases FONAR's Top Scanner Business Editors, Health/Medical Writers MELVILLE, N.Y.--(BUSINESS WIRE)--March 15, 2000--FONAR Corporation (NASDAQ: FONR), The Patient-Friendly(TM) MRI Company, announced that DAMA-MRI , an independent L.L.C., has selected a FONAR QUAD(TM) 12000 for its new imaging center in Edinburg, Texas. The sale was concluded by X-Ray Marketing Associates, Inc. (XMA), FONAR's recently chosen national distributor. Mr. Larry Pegram, general manager of XMA, said, "We've been very pleased to represent FONAR MRI products. This sale coupled with the fact that we have four more solid prospects in the pipeline speaks very highly both of FONAR's superior product line and the company's sales and marketing organization. They've wisely undertaken an ongoing program of educating, training and supporting their distributors, and it's obviously paying off. Our future with FONAR looks very promising." DAMA-MRI purchased the QUAD(TM) 12000, FONAR's highest-field Open MRI. The owner, Mr. Monif Nazif, explained why they chose the QUAD: "Our selection criterion for choosing an MRI was simple - we need the competitive edge. Many referring physicians send their patients to high-field MRIs for one reason only - image quality. In the past, that meant a claustrophobic, noisy, "tunnel" MRI which is a major problem for many patients. Today's patients are savvy. They want, even demand, the spaciousness and quiet of an Open MRI. FONAR's QUAD(TM) 12000 is the perfect solution. With a magnet strength of 0.6 Tesla, about twice that of most other Open MRIs, it delivers the excellent image quality the referring physicians are looking for and, at the same time, it's extremely patient-friendly - open on all four sides, quiet and fast. The scope of marketing opportunities this scanner presents is enormous." The facility will be ready for the installation of the scanner this summer. XMA, an umbrella organization of 74 independent distributors, was founded more than 20 years ago. XMA is the only national network of independent X-Ray dealers and has annual revenues of $1.8 billion. FONAR's full product line, the "FONAR Seven," also includes the Echo, a compact whole-body Open MRI scanner designed to sell at a low price and the economical QUAD 7000. The company's works-in-progress scanners include the Pinnacle(TM), a new high-field superconducting Open MRI scanner; the Stand-Up MRI(TM), the only scanner that provides MRI images of the patient in the weight-bearing state; and the dual-purpose Open Sky MRI(TM) and OR-360(degree) (TM) (MRI Operating Room), which contain both the large field of view needed for diagnostic purposes and the small field of view needed for surgical purposes. In 1980, FONAR introduced the world's first commercial MRI whole-body scanner. The widespread application of Magnetic Resonance Imaging (MRI) in medicine and biology today is the direct result of the landmark discoveries and early pioneering work of Raymond Damadian, M.D., president and founder of FONAR. His seminal discoveries of the variations in soft body tissue relaxation times, as well as the cancer detecting NMR signal, are the means used by all MRI scanners to detect cancer and distinguish healthy versus diseased tissues. A 1997 U.S. Supreme Court ruling affirmed that Dr. Damadian's patented discoveries are fundamental to every MRI unit in the marketplace today. Be sure to visit FONAR's Website for Company product and investor information. www.fonar.com 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. --30--sm/ny* CONTACT: FONAR Corporation, Melville Daniel Culver, Director of Communications David Terry, VP, Secretary Phone: 516/694-2929 Fax: 516/390-9540 E-mail: investor@fonar.com