First Sale and Installation
of
FONAR UPRIGHT MULTI-POSITION MRI in London, England
European Expansion Efforts Continue with
Strengthened Presence in the United Kingdom
MELVILLE,
NEW YORK, September 6, 2006 - FONAR Corporation (NASDAQ-FONR),
The Inventor of MR Scanning™,
announced today, that a FONAR UPRIGHT(TM) MULTI-POSITION(TM) MRI has been sold
and installed at The London Upright MRI Centre in London, England.
This marks the first FONAR UPRIGHT™ MULTI-POSITION™ MRI
sale and installation in England, one of the largest and most
developed markets in Europe. According to a report by the U.S. & Foreign
Commercial Service and the U.S. Department of State, the United
Kingdom (UK) had the fifth largest medical equipment market
in the world and
the third largest in Europe with a total market value over $3.5 billion.
London Upright MRI
Centre is a new venture founded by Dr. Edward Shelton. Its mission is to bring
Upright™ MRI technology to England. The Centre treats both private and
NHS
patients. Dr. Shelton said, "We are delighted to see the enthusiasm among
the referring physicians for the increased diagnostic capabilities of the FONAR
UPRIGHT™ MULTI-POSITION™ MRI. We are also very pleased by the very favorable
response
from the healthcare insurance community to this new technology."
"Surgeons around
the world are awakening to a serious condition known as failed back surgery syndrome
(FBSS), which can often be attributed to the wrong diagnosis," said Dr.
Raymond
Damadian, president and founder of FONAR. "The spine is a weight-bearing
structure wherein the forces on it, when the body is upright, are up to eleven
times greater than when the patient is supine. Accordingly, when evaluating a
patient for back pain, it is unsatisfactory to lie the patient down, remove the
compressive
forces causing the back pain, and expect to get a correct diagnosis."
Dr. Damadian continued, "Although
the FONAR UPRIGHT™ MULTI-POSITION™ MRI is developed and manufactured
in
the
United States, the need is worldwide and patients everywhere need the FONAR UPRIGHT™MULTI-POSITION™ technology
that can enable healthcare practitioners to get beyond the diagnostic limitations
of recumbent-only, single-position, conventional
MRI scanners. The technological superiority of the FONAR UPRIGHT™ MULTI-POSITION™ MRI
is heavily patented and substantially differentiated in an otherwise crowded
MRI market. No other MRI scanner in the world can image patients in multiple
positions,
including in the upright and weight-bearing positions. We are pleased that in
the few years since introducing the FONAR UPRIGHT™ MULTI-POSITION™ MRI,
we have successfully entered several key European markets and we intend to expand
our marketing efforts into other countries on the continent, as well as to sell
more units in existing markets such as the United Kingdom."
FONAR's increasing
presence in the United Kingdom includes the placement of a FONAR UPRIGHT™
MULTI-POSITION™ MRI in Aberdeen Scotland, the Company's first European
sale. The MRI scanner has been operating at the University of Aberdeen, Woodend
Hospital,
Aberdeen, Scotland, since August 2002. Today's announcement profiles FONAR's
first
sale in England of the UPRIGHT™ MULTI-POSITION™ MRI. An earlier
transaction that occurred in England was the sale and installation of the world's
first and
only FONAR 360™ MRI to the Nuffield Orthopaedic Centre (NOC) NHS Trust in
Oxford.
The NOC is a specialist 190 bed teaching hospital and part of the UK National
Health Service.
"The purchase
of our medical devices by respected research university and hospital customers
in the UK, as
well as private sector sales, validates the benefits of upright and multi-position
imaging," continued Dr. Damadian. "Our MRI scanners are specifically
designed for the purpose of administering appropriate medical treatment and the
overall advancement of science to support improved healthcare. We believe the
trend for cost effective and results oriented medical treatment will drive FONAR
sales beyond the most sophisticated practitioners into the broader market."
FONAR has expanded
its marketing efforts throughout Europe. The Company's second European UPRIGHT™ MULTI-POSITION™ MRI
was installed in Spain, with two other sales following in Switzerland. In Germany,
a sale occurred in 2005 immediately following a distribution agreement
formed with Tecserena GmbH, based in Cologne, Germany, as a new European representative
and distributor. Prior to its formation, Tecserena's founders managed certain
operations of Hitachi Medical Systems Germany. Tecserena can be found on the
Internet at www.tecserena.com.
About The London Upright MRI Centre
The London Upright MRI Centre is at Julia House, 44 Newman Street,
in London, England W1T 1QD, close to
Harley Street, the most famous medical address in England. The
Web site is www.uprightmri.co.uk/
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™ Multi-Position™ MRI (also known as the Upright™ MRI
and the Stand-Up™ MRI), the only whole-body MRI that performs Multi-Position™ Imaging
(mpMRI™) 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™ Multi-Position™ MRI often sees the patient's
problem that other scanners cannot because they are single position, lie-down
only. With nearly one half million patients scanned, the patient-friendly FONAR
Upright™ Multi-Position™ 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 400 employees.
#
The Inventor of MR Scanning™,
True Flow™ MRI, Stand-Up™ MRI, FONAR Upright™ MRI,
Position™ MRI, Multi-Position™ MRI, PMRI™ and
The Proof is in the Picture™ are 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's
filings with the Securities and Exchange Commission.
###
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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