Profile: FONAR Corporation (FONR.O)

Fonar Corporation (Fonar), incorporated on July 17, 1978, operates in two business segments: medical equipment segment, and physician management and diagnostic services segment. Fonar is engaged in the business of designing, manufacturing, selling and servicing magnetic resonance imaging (MRI) scanners, which utilize MRI technology for the detection and diagnosis of human disease. The product Fonar is promoting is its Upright MRI. Health Management Corporation (HMCA) was established as a wholly owned subsidiary to enable the Company to expand into the business of providing management services to medical providers. HMCA provides management services, administrative services, office space, equipment, repair, maintenance service and clerical and other non-medical personnel to medical providers. Since July 28, 2005, following the sale of HMCA's physical therapy and rehabilitation business, HMCA has elected to provide its services solely to diagnostic imaging centers.

The Company’s products include the Upright MRI and the Fonar 360. The Upright MRI is a whole-body open MRI system that enables positional MRI (pMRI)) applications, such as weight-bearing MRI studies. Patients can be scanned standing, bending, sitting, upright at an intermediate angle or in any of the conventional recumbent positions. The Fonar 360 is an enlarged room sized magnet in which the floor, ceiling and walls of the scan room are part of the magnet frame. The Fonar 360 is marketed as a diagnostic scanner and is sometimes referred to as the Open Sky MRI. In its Open Sky capacity, the Fonar 360 serves as an open patient-friendly scanner, which allows 360 degree access to the patient on the scanner bed.