Profile: Fonar Corp (FONR.O)
23 Mar 2017
Fonar Corporation (Fonar), incorporated on July 17, 1978, is engaged in the business of designing, manufacturing, selling and servicing magnetic resonance imaging (MRI) scanners, which utilizes MRI technology for the detection and diagnosis of human disease, abnormalities, other medical conditions and injuries. The Company operates its business through two segments: Medical Equipment segment, and Physician Management and Diagnostic Services segment. Its Medical Equipment segment is conducted through Fonar. Its Physician Management and Diagnostic Services segment is conducted through its subsidiary Health Management Company of America (HMCA). HMCA provides management services, administrative services, billing and collection services, office space, equipment, repair, maintenance service, and clerical and other non-medical personnel to various medical providers engaged in diagnostic imaging. As of June 30, 2016, HMCA owns and operates four diagnostic imaging facilities in Florida, where the corporate practice of medicine is permitted.
The Company offers Upright MRI, which is used to scan any part of the body. The Upright MRI allows patients to be scanned in various conditions, such as standing, sitting, bending or lying down in any position. The Fonar Upright MRI is a weight-bearing whole-body open MRI system, which enables positional MRI (pMRI) applications. FONAR's scanners provide various features allowing for diagnostic capability. The Company offers SMART, where scanning allows for same-scan customization of 63 slices. The Upright MRI also demonstrates its value for patients suffering from scoliosis.
The Company competes with General Electric Company, Philips N.V., Toshiba Corporation, Hitachi Corporation and Siemens A.G.
110 Marcus Dr
MELVILLE NY 11747-4228