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FONAR Commences First Ever National Advertising Campaign; Direct-to-Consumer (DTC) Strategy Intended to Increase Awareness of FONAR's Upright(TM) MRI and Its Capabilities
MELVILLE, N.Y. --(Business Wire)-- Feb. 24, 2006 -- FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning(TM), announced that yesterday marked the start of its national Direct-To-Consumer (DTC) advertising campaign with 30-second television spots during prime time and daytime programming nationwide. With over 100 installed FONAR UPRIGHT(TM) MRI scanners, this is the first national advertising campaign since the revolutionary MRI was introduced in 2000. The Company's previous foray into television advertising created demand for the FONAR UPRIGHT(TM) MRI that led to FONAR achieving record scanner sales and revenues in its fiscal 2005.
The television advertisement details a real-life experience of one patient, among many others, whose medical treatment was significantly altered. The more accurate diagnosis provided this patient by the Upright(TM) MRI resulted in a dramatic improvement in her treatment outcome. To see the advertisement visit: www.fonar.com/investor.htm
The ads also provide consumers with FONAR's 1-888-NEED-MRI toll-free number onscreen so that they can find the FONAR UPRIGHT(TM) MRI nearest them. In addition, the ads will focus on FONAR's branding and awareness that FONAR (FONR) is a publicly traded Nasdaq company.
For the initial airing of the ad, selected daytime and prime time programming on both cable and satellite has been scheduled, with a household reach of 23 million. Among the networks to show the advertisement are Lifetime, Lifetime Movie Channel, WE (Women's Entertainment Network), and CourtTV, each of which will run 8-10 spots per network per day. FONAR, with the assistance of its advertising agencies, will continuously monitor the success of the campaign and make periodic changes as needed to optimize results.
DTC (Direct to Consumer) advertising has proven its effectiveness for pharmaceutical products. It has a profound effect on what physicians prescribe. According to a 2002 survey by Prevention Magazine, 50 percent of consumers who spoke with their doctor about an advertised product were prescribed the product by their doctor. The survey also found that 24.8 million Americans with a medical condition spoke with their doctor about it for the first time after seeing a DTC advertisement. Furthermore, a recent survey by Advanced Analytics and Guideline Consulting found that a majority of physicians surveyed believe DTC advertising is beneficial to patients, with an even greater number indicating that DTC advertising has had a positive impact on their medical practice.
Raymond Damadian, president and founder of FONAR said, "We are excited to bring to the consumer's attention the availability of the FONAR UPRIGHT(TM) MRI and its potential for helping patients suffering from back pain and other ailments that would benefit from a dynamic FONAR UPRIGHT(TM) MRI examination."
About FONAR:
FONAR(R) 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(TM) MRI (also known as the Stand-Up(TM) MRI), the only whole-body MRI that performs Position(TM) imaging (pMRI(TM)) 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(TM) 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(TM) MRI has a near zero claustrophobic rejection rate by patients. A radiologist said, "FONAR UPRIGHT(TM) 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 500 employees. Additional information may be found on the FONAR Web site at www.fonar.com.
MRI Specialist, The Inventor of MR Scanning, Stand-Up, Upright, Position, PMRI and The Proof is in the Picture are trademarks of FONAR.
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 filings with the Securities and Exchange Commission.
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