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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Bidder who wrote (23035)	8/2/2000 2:59:27 PM
From: DanielleC	Read Replies (1) \| Respond to of 25711

Significant development today on FONR: GE Medical Systems and FONAR Corporation Announce Technology & DistributionAgreement WAUKESHA, Wis. and MELVILLE, N.Y., Aug. 2 /PRNewswire/ -- GE Medical Systems (NYSE: GE) and FONAR Corporation (Nasdaq: FONR) announced today that the companies have signed an agreement to provide mutual access to each company's patented MR intellectual property and to sell and distribute FONAR's Stand-Up MRI. As part of the agreement, FONAR's Stand-up MRI will be the product GE will distribute that is designed primarily for full body, weight-bearing MRI. When ready for sale, the Stand-Up MRI will provide images of the patient in the weight-bearing state. "Application and system growth in MR is exploding," said Jeffrey R. Immelt, President and CEO of GE Medical Systems. "The access to FONAR's MR intellectual property in this agreement will allow GE to offer any customer the broadest range of technology." "We are excited about the benefits of this agreement to both companies and about the health care advances it will bring to the public," said Dr. Raymond V. Damadian, President and CEO, FONAR Corporation. About FONAR Corporation In 1980, FONAR introduced the world's first commercial MRI whole-body scanner. The "FONAR Seven," the Company's full product line, in addition to the Stand-up MRI, includes the Echo(TM), a compact whole-body Open MRI designed to sell at a low price; the newly enhanced QUAD(TM) 12000 and QUAD(TM) 7000; and the newly FDA-cleared-for-marketing FONAR-360 degrees(TM), which is available in its "open sky" configuration for diagnostic purposes and, in the future, in its "interventional 360o" configuration for MRI-guided interventions; and the Pinnacle(TM), the open MRI with superconducting magnet technology. For more information, visit FONAR's Web site at FONAR.com. About GE Medical Systems GE Medical Systems is a $7 billion global leader in medical technologies and information systems. Its offerings include networking and productivity tools, health care information systems, patient monitoring devices, conventional and digital X-ray, computed tomography (CT), magnetic resonance (MR), ultrasound, positron emission tomography, (PET) and nuclear medicine. For more than 100 years, health care providers worldwide have relied on GE Medical Systems for high quality medical technology, services and productivity solutions. For more information, visit the GE Medical Systems Web site at gemedicalsystems.com SOURCE GE Medical Systems CO: GE Medical Systems; FONAR Corporation ST: Wisconsin, New York IN: MTC MLM SU: LIC 08/02/2000 09:30 EDT prnewswire.com