FONAR COMPLETES INSTALLATION OF
CUSTOMER'S
4TH STAND-UP MRI
Company's 17TH Installation
MELVILLE, NEW
YORK, April 4, 2003 - FONAR Corporation (NASDAQ-FONR), The MRI
Specialist, announced today that it has completed the
fourth FONAR Stand-Up MRI installation for Washington
Open MRI. This latest installation is in Owings Mills, Maryland,
near Baltimore. All four facilities are located in Maryland;
the first three are in Greenbelt, Shady Grove and Oxon Hills.
The new Owings Mills installation brings the total number of
installed Stand-Up MRIs to seventeen (17).
Raymond Damadian,
president and chairman of FONAR Corporation said, "The best
evidence of customer satisfaction is repeat customers. When
a customer buys a second, third or fourth Stand-Up MRI,
as is the case with Washington Open MRI, it is a great tribute
to the men and women at FONAR who developed and manufactured
it. The fact that a Stand-Up MRI customer has purchased
and installed four of them within only a few years of the opening
of the first, speaks volumes about this extraordinary product.
The Stand-Up MRI is certainly proving itself. It's a remarkable
diagnostic tool; it's patient-friendly; and it's reliable. A
fourth installation for the same customer also indicates that
the Company has proven itself. We've been in this business since
1978. As professionals we understand the importance of providing
our customers with the utmost attention and service. Washington
Open MRI's commitment to the product and to us is very gratifying."
Approximately
60% of Stand-Up MRI sales have been to multiple-purchase
customers. For earlier model FONAR MRI products, the figure
was approximately 6%.
In the MRI
industry's first decade, FONAR sold approximately 150 MRI scanners.
This included the FONAR QED 80 Alpha, the world's first commercial
MRI scanner, and FONAR's BETA Series of MRI scanners. The first
QED 80 Alpha was installed in 1980. FONAR's BETA MRI scanner,
the world's first `Open' MRI scanner, was installed in 1982.
Dr. Damadian
added, "Each new FONAR Stand-Up MRI installation is another
opportunity for many more patients and physicians to learn about
and benefit from the revolutionary, first-of-its-kind, Upright
MRI scanner."