Health Diagnostics' Purchase of Six FONAR UPRIGHT MRI's is ''Just the Beginning''
MELVILLE, N.Y., Oct 18, 2007 (BUSINESS WIRE) -- FONAR Corporation (NASDAQ:FONR), The Inventor of MR Scanning(TM) announced today that Health Diagnostics, LLC has ordered six (6) FONAR UPRIGHT(R) Multi-Position(TM) MRIs. Health Diagnostics (HD), which is headquartered in Manhattan, New York, currently operates and/or provides management services for 28 diagnostic imaging centers in California, New York, Florida and Georgia. The company, which is a relative newcomer in the business, has the goal of creating, over the next three or four years, one of the largest networks of diagnostic imaging centers in the country. "Not only do we want to be one of the biggest networks, we want to be the best," said HD founder Andrew McKelvey and founder of Monster.com. "Positional MRI is the most dramatic advancement in MRI technology in years. If we intend to be the best, the UPRIGHT(R) MRI has to be in the mix. This six-scanner purchase is just the beginning."
"The FONAR UPRIGHT(R) MRI provides critical diagnostic information that physicians just can't do without," elaborated Mr. McKelvey. "Before FONAR brought the UPRIGHT(R) MRI to market, the only position in which an MRI patient could be scanned was lying down. Doctors had no idea what the state of a patient's anatomy was under normal, upright, weight-bearing conditions. Consequently, accurate diagnoses were unattainable in many instances. The UPRIGHT(R) MRI, however, can scan patients in any position. If a patient has a problem that can only be seen when the patient is in some non-recumbent position, such as sitting up, only the FONAR can visualize it. With anything less than the complete diagnostic picture of the patient's problem, the physician runs the risk of a missed or wrong diagnosis, which could and does lead to an inappropriate treatment plan or surgery. We view the UPRIGHT(R) MRI as indispensable - the future of MRI - which is why we plan on installing them all over the country."
About Health Diagnostics
Health Diagnostics (HD) entered the diagnostic imaging business in early 2007. Under the leadership of founder Andrew McKelvey, HD plans to achieve its goal of becoming one of the largest networks of diagnostic imaging centers in the country both by acquiring existing imaging centers and by creating entirely new ones. The HD network will include multi-modality centers, meaning the centers will be equipped with several types of major diagnostic imaging equipment, such as MRI, CT and PET scanners. Andrew McKelvey is the founder and former chairman and CEO of Monster.com.
FONAR(C) was incorporated in 1978, making it the first, oldest and most experienced MRI manufacturer in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. Since its inception, FONAR has installed hundreds of MRI scanners worldwide. The company's stellar product line includes the FONAR UPRIGHT(R) Multi-Position(TM) MRI (also known as the STAND-UP(R) MRI), the only whole-body MRI that performs Full Range of Motion(TM) (ROM) Multi-Position(TM) imaging (mpMRI(TM)) that enables patients to be scanned in numerous weight-bearing positions, i.e. standing, sitting, in flexion, in extension and, in particular, in the position that generates symptoms, so that a picture can be obtained of the actual pathology giving rise to the patient's symptoms (e.g. pain). The scanner also performs all the scans of a conventional MRI with the patients in the usual lie-down position. The FONAR UPRIGHT(R) Full Range of Motion(TM) (ROM) Multi-Position(TM) MRI often sees the patient's problem that other scanners cannot, because they are lie-down only. Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV.
Be sure to visit FONAR's Website for product and investor information: http://www.fonar.com
The Inventor of MR Scanning(TM), Full Range of Motion(TM), pMRI(TM), Multi-Position(TM), True Flow(TM) and The Proof is in the Picture(TM) are trademarks and UPRIGHT(R) and STAND-UP(R) are registered trademarks of FONAR Corporation.
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 filings with the Securities and Exchange Commission.
SOURCE: FONAR Corporation
CONTACT: FONAR Corporation
Daniel Culver, 631-694-2929
Fax: 631-390-1709 http://www.fonar.com
Copyright Business Wire 2007