Fonar Press Releases

For Immediate Release

The MRI Specialist™

An ISO 9001 Company

Contact: David B.Terry, V.P., Secretary

110 Marcus Drive

Daniel Culver, Director of Communications

Melville, NY 11747-4292

 

Phone: (631) 694-2929

Visit our Web site - www.fonar.com

Fax: (631) 390-9540


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."

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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. 631-753-5150
Email sales@FONAR.com
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