Description

FONAR Corporation, along with its affiliated entities, is primarily engaged in the research, development, manufacturing, and commercialization of magnetic resonance imaging (MRI) systems within the United States. These sophisticated scanners are instrumental in the detection and diagnosis of various human diseases. The company's operations are divided into two distinct divisions: a Medical Equipment segment and a Physician Management and Diagnostic Services segment. A flagship product is their innovative Upright MRI scanner, which offers the unique capability of imaging patients in weight-bearing postures such as standing, sitting, bending, or traditional supine positions. This allows for the observation of conditions that manifest under natural gravitational stress. Furthermore, under its Physician Management segment, FONAR provides a comprehensive suite of non-medical management and administrative support services. These encompass areas like billing and collections, professional credentialing, contract negotiation, compliance consultation, IT procurement, human resources (including hiring, training, and supervision of non-clinical staff), medical record archival, office space and equipment provision, maintenance, accounting, and assistance with regulatory adherence, as well as the formulation and execution of practice growth and marketing initiatives. FONAR maintains a significant presence in diagnostic imaging services, directly owning and operating five facilities in Florida. Additionally, it oversees the management of 39 MRI scanning centers, with 25 located in New York and 14 throughout Florida. The company strategically markets its advanced MRI technology to both independent diagnostic imaging centers and hospitals. Incorporated in 1978, FONAR Corporation is headquartered in Melville, New York.