Fonar Corp (FONR)

[ProfitScout]

FONAR Sells 33rd Stand-Up MRI; 9th Sale in New York; 2002 Was the Break-Out Year of the Stand-Up MRI

MELVILLE, N.Y.--(BUSINESS WIRE)--Jan. 8, 2003--FONAR Corporation (Nasdaq:FONR), The MRI Specialist(TM), announced today the sale of its 33rd Stand-Up(TM) MRI scanner to a new scanning facility in New York State. It is the 9th Stand-Up(TM) MRI sale in New York State where four are currently operating. Timothy Damadian holds a minority interest in the L.L.C. that has purchased the scanner.

Raymond Damadian, president and founder of FONAR, said, "In calendar 2000, FONAR sold one (1) Stand-Up(TM) MRI. During 2001 we sold nine (9). Last year we sold 22 plus 9 more were contracted, making 2002 a break-out year for the Stand-Up(TM) MRI."

Sol Ginzburg, vice president of sales at FONAR, said, "The Stand-Up(TM) MRI has tremendous appeal to customers, physicians and patients alike. It can make diagnoses that other MRIs can't. Consider, if a disk only herniates when the patient is upright, then it doesn't matter if a recumbent scanner is 1 Tesla, 3 Tesla or 100 Tesla; it won't be able to see the herniated disk."

"Roughly 50% of all MRI scans are of the spine. Last year that was approximately 10 million MRI scans in the U.S. alone," added Mr. Ginzburg. "Since our Stand-Up(TM) MRI can make the most complete diagnosis of the most scanned area of the body (spine), then FONAR can claim its Stand-Up(TM) MRI provides the most COMPLETE diagnostic service in the MRI industry."

"The Stand-Up(TM) MRI is the world's first MRI to do Position Imaging(TM) (pMRI(TM)) and whole-body Upright MRI(TM). This gives doctors new opportunities to image the body and better evaluate the patient's condition. In addition, we are learning that a significant number of patients (hospital patients in particular) can not safely be scanned lying down," said Mr. Ginzburg.

"Patients love our Stand-Up(TM) MRI. No where else in the industry is there a scanner that has a near-zero claustrophobic-rejection rate. One can even watch TV while they are being scanned. Children are very comfortable in the machine." Mr. Ginzburg concluded, "For all these reasons, we feel that 2003 will be even more exciting than 2002."

Be sure to visit FONAR's Web site for Company product and investor information: http://www.fonar.com.

CONTACT:
FONAR Corp., Melville
Daniel Culver or David Terry, 631/694-2929
Fax: [phone]
E-mail: [e-mail]
SOURCE: FONAR Corp.