Profile: Fonar Corp (FONR.O)
11 Dec 2013
Fonar Corporation (Fonar), incorporated on July 17, 1978, operates in two segments: medical equipment segment, and physician management and diagnostic services segment. The Company 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, abnormalities, other medical conditions and injuries. Health Management Corporation of America (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, billing and collection services, office space, equipment, repair, maintenance service and clerical and other non-medical personnel to medical providers.
The Company’s products include the Upright MRI and the Fonar 360. The Upright(R) MRI is a whole body open MRI system that enables positional MRI applications, such as weight-bearing MRI studies. The Upright MRI is the scanner that allows patients to be scanned while standing, sitting bending or lying down. The Fonar 360 includes the Open Sky MRI. The magnet frame is incorporated into the floor, ceiling and sidewalls of the scan room and is open. Consequently, physicians and family members can walk inside the magnet to approach the patient. The Open Sky version of the Fonar 360 is decoratively designed so that it is incorporated into the panoramic landscape that decorates the walls of the scan room. 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. As of June 30, 2012, Imperial managed 11 diagnostic imaging facilities located in states of New York and Florida.
The Company competes with General Electric Company, Siemens, Hitachi, Philip, Toshiba Corporation and G.E. Capital.
110 Marcus Drive
MELVILLE NY 11747