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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (34522)	6/12/2000 2:54:00 AM
From: BlueCheap	Read Replies (1) \| Respond to of 52051

FONAR Announces Patent Infringement Lawsuit Settlement with HealthSouth Corporation! This could mean MANY $,$$$,$$$,$$$'s for FONR and Perhaps an agreement that HRC will purchase Open MRI Scanners from FONAR! These are my perceptions Malcolm BlueCheap ********************************************* Business Editors & Medical Writers MELVILLE, N.Y.--(BUSINESS WIRE)--June 12, 2000--FONAR Corporation (NASDAQ:FONR), The Patient-Friendly(TM) MRI Company, announced today that FONAR and HealthSouth Corporation have entered into a settlement agreement whereby HealthSouth Corporation paid FONAR an undisclosed amount in settlement of FONAR's patent infringement suit against HealthSouth for its use infringement of FONAR's magnetic resonance imaging technology. HealthSouth infringed FONAR's Multi-Angle Oblique (MAO) Patent No. 4,871,966. No other patents were involved and the terms of the settlement are confidential. FONAR continues to assert and protect its intellectual property rights. The Company has also reached settlement agreements with Hitachi, Philips, Siemens, Toshiba, Elscint and Shimadzu for its MRI patents. Most significantly, on October 6, 1997, the U.S. Supreme Court denied General Electric's certiorari petition which ended that patent infringement suit. Previously, GE had paid FONAR a total of $128.7 million. FONAR has been highly successful with two patents in particular - the MAO patent and "The Cancer Detection Patent," which is the world's first MRI patent. Both were successful against General Electric. FONAR's patent portfolio includes the MRI magnet patents that originated "OPEN MRI." 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. The 1997 U.S. Supreme Court ruling affirmed that Dr. Damadian's patented discoveries are fundamental to every MRI unit in the marketplace today. FONAR is represented by Ronald J. Schutz and Martin R. Lueck of the Minneapolis-based law firm Robins, Kaplan, Miller and Ciresi. 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--flb/ny* CONTACT: FONAR Corporation, Melville Daniel Culver, Director of Communications David Terry, VP, Secretary Phone: 631/694-2929 Fax: 631/390-9540 E-mail: investor@fonar.com www.fonar.com KEYWORD: NEW YORK INDUSTRY KEYWORD: BIOTECHNOLOGY COMPUTERS/ELECTRONICS HARDWARE MEDICAL MEDICAL DEVICES Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *