NEW YORK, October 28, 2014 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, today announced a sale of its UPRIGHT® MRI to a long-time FONAR customer, Medserena, of Germany. The FONAR UPRIGHT® Multi-Position™ MRI (aka Stand-Up® MRI) scanner is the world’s only MRI scanner licensed under FONAR’s multiple UPRIGHT® MRI patents to scan all the patient’s body parts in their normal multiple, full weightbearing UPRIGHT® positions. This will be the fifth sale of a FONAR UPRIGHT MRI in Germany.
The UPRIGHT® MRI will be placed in the city of Frankfurt. This will join the cities of Cologne, Hanover, Munich, and Hamburg that currently have the FONAR UPRIGHT® Multi-Position™ MRI. Medserena CEO Matthias Schulz has said, “A large number of requests for the FONAR UPRIGHT® Multi-Position™ MRI are coming from physicians in Germany because of the special medical need for FONAR’s unique technology. This is in spite of an intensely active MRI market in Germany, where there are already many conventional lie-down MRIs installed.”
Raymond V. Damadian, M.D., president and founder of Fonar Corporation, said, “I am pleased to announce this fifth sale of the UPRIGHT® Multi-Position™ MRI to our German customer. It is good to see that there is still robust interest for our scanner in the MRI market place.”
Dr. Damadian continued, “We have now had a third press release during the month of October featuring sales of our UPRIGHT® Multi-Position™ MRI. Sales of the scanner are a good complement to our subsidiary, Health Management Corporation of America (HMCA), which manages diagnostic imaging centers which have the FONAR UPRIGHT® (Stand-Up®) MRI.
“The FONAR UPRIGHT® weight-bearing MRI technology and its critical role in optimizing outcomes from spine surgery, provides unduplicated benefits in assessing the position dependence of patient symptoms. The UPRIGHT® MRI’s ability to make MRI motion pictures (cinés) of the cerebrospinal fluid (CSF) as it flows into and out of the upright brain and spine
enables visualization of obstructions of CSF flow not found in other MRIs and leading to new understandings of the genesis of diseases such as multiple sclerosis (MS),” said Dr. Damadian.
“The FONAR UPRIGHT® MRI is the only scanner which can properly identify a disease we call the Cranio-Cervical Syndrome,” continued Dr. Damadian. “The primary symptomology of the the Cranio-Cervical Syndrome is pressure headaches but there are many variations.” (For further details visit http://www.fonar.com/news/032813.htm.
“In addition,” said Dr. Damadian, “the FONAR UPRIGHT® MRI is essential in understanding the impact of whiplash due to a motor vehicle accident.” For a peer reviewed paper titled ‘A casecontrol study of cerebellar tonsillar ectopia (Chiari) and head/neck trauma (whiplash)’ visit: http://traumaimagingfoundation.com/research.
FONAR (NASDAQ:FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world’s first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 FONAR recumbent-OPEN MRIs and 157 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR’s stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and the only MRI scanner that is able to scan patients in the exact weight-loaded position that is generating their pain. It 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 and ”weightless” only scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, “If the patient is claustrophobic in this scanner, then they’ll be claustrophobic in my parking lot.” Approximately 85% of patients are scanned sitting while they watch a 42” flat screen TV. FONAR is headquartered on Long Island, New York.
UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and Landscape™, 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.