Fonar Press Releases

For Immediate Release

The Inventor of MR Scanning™


An ISO 9001 Company

Contact: Daniel Culver

110 Marcus Drive

Director of Communications

Melville, NY 11747-4292

Web site:

Phone: (631) 694-2929

Email: invest @ fonar. com

Fax: (631) 390-9540

Contact: Jordan Darrow
Tel: (631) 367-1866
Darrow Associates, Inc.


          MELVILLE, NEW YORK, May 15, 2006 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, today announced that its Chairman, president and founder Raymond Damadian, M.D., purchased 90,500 shares of FONAR stock in the open market on May 11, 2006. This is the second time in less than 90 days that Dr. Damadian has made open market purchases of FONR stock. The purchase brings his total ownership to 2,678,774 shares of common stock. Dr. Damadian has not sold a share in more than a decade. The purchases were made pursuant to the Company's corporate governance guidelines for insider stock purchases.
          The purchase of FONAR shares in the open market by Dr. Damadian is intended to tangibly demonstrate confidence and excitement in the potential of the Company and the significant progress it has made in recent months marketing the FONAR UPRIGHT™ MRI. "I believe we are at an inflection point in attaining "mind share" among the most influential and demanding constituencies of the medical community. The FONAR UPRIGHT™ MRI scanner uniquely provides the surgeon images of the fully weight-loaded spine which supply him a more accurate and more complete diagnosis of his patient's spine. This in turn enables the surgeon to achieve better surgical outcomes for his patients," said Dr. Damadian. "These benefits contributed to the recent decision of two
hospitals (one a major hospital chain) to purchase our FONAR UPRIGHT™ MRI scanner, which is a milestone achievement for the Company in breaking into a market segment that we have not significantly penetrated before."
          "I have no doubt," said Dr. Damadian, "that the FONAR UPRIGHT™ MRI is a necessity for patients with back pain, and that for patients with upright back pain (the great majority) the recumbent-only MRI examination is, in the main, irrelevant. We are very encouraged by the increasing attention being given to the FONAR UPRIGHT™ MRI as a result of our advertising program and the success of our users. We believe that we are well positioned to scale production higher as this interest turns into new sales."


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™ 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, 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 only. With nearly one half million patients scanned, the patient-friendly FONAR UPRIGHT™ 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, 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
Investor Information

top of page

Site Map | Terms of Use-Our Privacy Policy Use
Copyright 2006 FONAR- All Rights Reserved