Fonar Press Releases

For Immediate Release

The Inventor of MR Scanning™

 

An ISO 9001 Company

Contact: Daniel Culver

110 Marcus Drive

Director of Communications

Melville, NY 11747-4292

Web site: www.fonar.com

Phone: (631) 694-2929

Email: invest @ fonar. com

Fax: (631) 390-9540

   
Contact: Jordan Darrow
Tel: (631) 367-1866
Darrow Associates, Inc.
jdarrow@optonline.net

FONAR CHAIRMAN/PRESIDENT DR. RAYMOND DAMADIAN AND ANOTHER BOARD MEMBER PURCHASE COMPANY STOCK IN OPEN MARKET

          MELVILLE, NEW YORK, February 15, 2006 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, today announced that its Chairman, President and founder Raymond Damadian, M.D., purchased 100,000 shares of FONAR stock in the open market on February 13, 2006. This brings his total ownership to 2,588,274 shares of common stock. Dr. Damadian has not sold a share in more than a decade. In addition to Dr. Damadian, Robert J. Janoff purchased 10,000 shares of FONAR stock in the open market on February 10, 2006. Mr. Janoff is a non-executive and independent member, as defined in the Nasdaq listing rules, of FONAR’s Board of Directors. The purchases were made pursuant to the Company’s corporate governance guidelines for insider stock purchases.
          The purchase of FONAR shares in the open market by Dr. Damadian and other members of management is intended to tangibly demonstrate FONAR's enthusiasm, indeed excitement, about its current products, like the FONAR UPRIGHT™ MRI and the FONAR 360™ , and their prospects for achieving record sales in the near future. "We remain more enthusiastic than ever," said Dr. Damadian, "of the prospects of the FONAR UPRIGHT™ MRI. It is proving daily the necessity of Upright™ weight-bearing MRI imaging for correctly diagnosing spine problems, a condition that leads to 800,000 neck and spine surgeries each year in the U.S."
          "The first FONAR 360™ installation currently nearing completion at the Oxford Nuffield Orthopaedic Center, Oxford, U.K., a teaching hospital of Oxford University, holds great promise for MR image guided interventional procedures," Dr. Damadian said.
          "We believe we have, with the FONAR UPRIGHT™ MRI, unique MRI technology for which there is a compelling need and scientific proof of its superiority. With our first ever national advertising campaign about to commence and an experienced and dedicated workforce capable of trebling our production and revenue with minimal investment, we are very much encouraged by FONAR's near term business prospects," concluded Dr. Damadian.

About FONAR

FONAR® 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. Their stellar product line includes the FONAR UPRIGHT™ MRI (also known as the Stand-Up™ MRI), the only whole-body MRI that performs Position™ imaging (pMRI) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT™ MRI often sees the patient's problem that other scanners cannot because they are lie-down only. With nearly one half million patients scanned, the patient-friendly FONAR UPRIGHT™ MRI has a near zero claustrophobic rejection rate by patients. A radiologist said, "FONAR UPRIGHT™ MRI - No More Claustrophobia - The Tunnel Is Gone." As another FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. FONAR's latest MRI scanner is the FONAR 360, a room-size recumbent scanner that optimizes openness while facilitating physician access to the patient. FONAR is headquartered on Long Island, New York, and has approximately 500 employees.

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The Inventor of MR Scanning™, True Flow™ MRI, Stand-Up™ MRI, FONAR UPRIGHT™ MRI, Position™ MRI, PMRI™ and The Proof is in the Picture™ are trademarks of FONAR.

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.
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FONAR™ Corporation
110 Marcus Drive
Melville, N.Y. 11747
Tel. 631-694-2929
Fax. 631-390-9540
Email sales@FONAR.com
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