FONAR Announces Results of the Third Fiscal Quarter 2009 as Net Income Soars Past $1 Million for Nine Month Period

FONAR Corporation (FONR ), The Inventor of MR Scanning(TM), today announced its earnings for the third quarter of fiscal 2009 ending March 31, 2009. Net income for the nine month period ending March 31, 2009 was $1.1 million as compared to the nine month period one year earlier when there was a net loss of $6.7 million. For the third fiscal quarter ending March 31, 2009, the Company reported net income of $730,000 as compared to the same period one year earlier when it had a loss of $2.7 million.

Revenues increased 7.0% to $29.3 million for the nine month period ending March 31, 2009 as compared to $27.4 million for the nine month period ending March 31, 2008. For the quarter ending March 31, 2009, revenues increased 39.5% to $11.3 million as compared to $8.1 million for the quarter ending March 31, 2008.

BSD Receives FDA Humanitarian Use Designation for the BSD-2000 Hyperthermia System

BSD Medical Corporation (NASDAQ: BSDM) announced today that the U.S. Food and Drug Administration (FDA) has granted Humanitarian Use Device (HUD) designation for the company’s BSD-2000 Hyperthermia System for use in conjunction with radiation therapy for the treatment of cervical carcinoma patients who are ineligible for chemotherapy. This is the first of the two steps required to obtain Humanitarian Device Exemption (HDE) marketing approval, which requires BSD Medical to demonstrate the device’s safety and probable benefit in treating a disease or condition that affects fewer than 4,000 individuals in the United States per year. Now that FDA has granted the Humanitarian Use Designation for the BSD-2000, which confirms that the intended use population is fewer than 4,000 patients per year, BSD can file an HDE submission with the FDA. FDA has 75 days from the date of receipt of the HDE submission to grant or deny an HDE application.

Covidien Announces Definitive Agreement to Acquire VNUS Medical Technologies, Inc.

Covidien (NYSE: COV) and VNUS Medical Technologies, Inc. (NASDAQ: VNUS) today announced that Covidien has reached a definitive agreement to acquire VNUS, a developer of medical devices for minimally invasive treatment of venous reflux disease.

VNUS had 2008 revenues of $101 million and is based in San Jose, CA. The Boards of Directors of both companies have unanimously approved the transaction, pursuant to which a wholly owned subsidiary of Covidien will pay $29.00 in cash per VNUS share for a total of approximately $440 million, net of cash acquired. The transaction, which will take the form of an all cash tender offer followed by a second-step merger, is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed by June 30, 2009.

GE Healthcare and Hansen Medical Announce Collaboration to Promote Use of Fluoroscopic Imaging Systems and Robotic Catheter System for Electrophysiology Procedures

GE Healthcare and Hansen Medical, Inc. (NasdaqGM:HNSN) today announced that they have entered into a collaboration to promote the use of GE Healthcare's imaging technologies and Hansen Medical's robotic catheter technologies for electrophysiology (EP) procedures. In addition, the companies expect to pursue integrated product offerings in connection with their collaboration.

The partnership enables the companies to promote the compatibility of the GE Innova X-ray imaging platform with Hansen Medical's Sensei® Robotic Catheter System. The companies seek to further augment the capabilities of electrophysiologists to perform EP procedures.