Profile: Fonar Corp (FONR.O)
29 Sep 2016
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 utilize 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. The Company directly operates the medical equipment segment and the physician management and diagnostic services segment is operated through its subsidiary Health Management Corporation 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 medical providers engaged in diagnostic imaging. The Company's products include Upright MRI/Stand-Up MRI and Fonar 360.
The Upright MRI is a whole body open MRI system that enables positional MRI (pMRI) applications. The Upright MRI is the scanner that allows patients to be scanned while standing, sitting bending or lying down. It is used to scan any part of the body. The Upright MRI is a non-claustrophobic MRI scanner. It operates at 6,000 gauss (.6 Tesla) field strength. The abnormalities or injuries, such as a slipped disk, are scanned under full weight-bearing conditions, which more often than not is the position in which patients experience pain. The multi-positional MRI system accommodates an unrestricted range of motion for flexion, extension, lateral bending, and rotation studies of the cervical (upper) and lumbar (lower) spine. The Upright MRI also demonstrates its value for patients suffering from various disorders, such as scoliosis, Arnold-Chiari Syndrome and cerebellar tonsillar ectopia (CTE). The Fonar 360 scanner is used for surgical and interventional procedures. The Fonar 360 is a full-size room with an eight-foot ceiling, in which the magnetic poles of the scanner are located in the center of the room; one of them protrudes from the ceiling and the other from the floor.
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