Fonar Announces Distributor Agreement with AIRS Medical, Leader in AI-Powered MRI Technology

MELVILLE, NEW YORK, November 8, 2023 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, announces that it is now the exclusive distributor of SwiftMR™ from AIRS Medical, Inc. to FONAR customers for use on their FONAR MRIs or on any other MRI scanner they own. AIRS Medical is the leading Artificial Intelligence (AI)-powered healthcare solution provider.

SwiftMR™, an FDA 510(k)-cleared software product, uses AI-powered denoising and sharpening to enhance the quality of MRI images and enable the reduction of MRI scan times by up to 50%.

FONAR is very excited about our new relationship with AIRS Medical. We see the power of AI daily on the MRI scanners under contract with our diagnostic imaging management subsidiary, Health Management Company of America (HMCA). We are proud to be working with AIRS Medical and look forward to a long and prosperous relationship.

AIRS Medical values FONAR's 45 years of experience in MRI and expects our combined efforts will accelerate the utilization of SwiftMR™.

AIRS Medical, Inc. will be showcasing its products at RSNA 2023 (the 109th Scientific Assembly and Annual Meeting of the Radiological Society of North America) in Chicago, on November 26-29, 2023 (Booth 4552). The company will be hosting two AI Theater Presentations: Yangsean Choi, MD, will discuss clinical applications and on-going research using SwiftMR™ in neuroradiology, and John Greenhalgh, Ph.D., Vice President of Research and Development at FONAR Corporation, will share his experience in successfully implementing SwiftMR™ in FONAR Upright® MRI systems.

About FONAR

FONAR, The Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978, and is the first, oldest, and most experienced MRI company in the industry. FONAR went public in 1981 (Nasdaq: FONR). FONAR sold the world's first commercial MRI to Ronald J Ross, MD, Cleveland, Ohio. It was installed in 1980. Dr. Ross and his team began the world's first clinical MRI trials in January 1981. The results were reported in the June 1981 edition of Radiology/Nuclear Medicine Magazine. The technique used for obtaining T1 and T2 values was the FONAR technique (Field fOcused Nuclear mAgnetic Resonance), not the back projection technique. www.fonar.com/innovations-timeline.html.

FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ 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, e.g., standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often detects patient problems that other MRI scanners cannot because they are lie-down, "weightless-only" scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a 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 watching TV.

FONAR has new works-in-progress technology for visualizing and quantifying the cerebral hydraulics of the central nervous system, the flow of cerebrospinal fluid (CSF), which circulates throughout the brain and vertebral column at the rate of 32 quarts per day. This imaging and quantifying of the dynamics of this vital life-sustaining physiology of the body's neurologic system has been made possible first by FONAR's introduction of the MRI and now by this latest works-in-progress method for quantifying CSF in all the normal positions of the body, particularly in its upright flow against gravity. Patients with whiplash or other neck injuries are among those who will benefit from this new understanding.

FONAR's primary source of income and growth is attributable to its wholly-owned diagnostic imaging management subsidiary, Health Management Company of America (HMCA) www.hmca.com.

FONAR's substantial list of patents includes recent patents for its technology enabling full weight-bearing MRI imaging of all the gravity sensitive regions of the human anatomy, especially the brain, extremities and spine. It includes its newest technology for measuring the Upright cerebral hydraulics of the cerebrospinal fluid (CSF) of the central nervous system. FONAR's UPRIGHT® Multi-Position™ MRI is the only scanner licensed under these patents.

UPRIGHT® and STAND-UP® are registered trademarks. The Inventor of MR Scanning™, CSP™, Multi-Position™, UPRIGHT RADIOLOGY™, The Proof is in the Picture™, pMRI™, CSF Videography™, and Dynamic™ 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.