Business
Fonar Board of Directors Appoints Independent Director
Melville, New York--(Newsfile Corp. - November 23, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that on November 17,
About this update from Fonar Corporation
[{"type":"text","content":"Melville, New York--(Newsfile Corp. - November 23, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that on November 17, 2021, its board of directors appointed John Collins as a replacement independent director to a vacancy on the Company's board of directors and audit committee.\nTimothy Damadian, president and CEO of FONAR, said, \"Our primary source of income and growth is attributable to FONAR's diagnostic imaging management subsidiary, Health Management Company of America (HMCA). Mr. Collins' extensive experience in dealing with insurance companies will be very helpful to HMCA. As a management company, HMCA bills and collects for all services rendered at all HMCA-managed and HMCA-owned facilities. That responsibility requires us to regularly interact with hundreds of payers, including commercial insurance carriers, Medicare and Medicaid, Workers' Compensation, and No-Fault carriers regarding a wide variety of matters, such as collection issues, credentialing, and negotiating participation agreements in coordination with the owners.\"\nAlso, since HMCA arranges for professional liability coverage at all the sites and assists medical personnel, including radiologists and technologists, with their individual professional liability coverage, Mr. Collins will be helpful there as well. We are delighted to have him working with the board of directors.\"\nDr. Raymond Damadian, Chairman of FONAR, added, \"While we are saddened by the recent passing of Mr. Charles O'Data, a dear friend and very able member of the board of directors since February 1998, we are very pleased with the addition of Mr. Collins and look forward to working with him.\"\nMr. Collins is a partner at Brownell Partners, PLLC. The practice specializes in the defense of New York Labor Law, premises liability, commercial transportation, products liability, wrongful death, and matters involving allegations of commercial and professional malpractice. The practice also deals with insurance coverage disputes and property damage subrogation cases.\nMr. Collins earned his bachelor's degree from the State University of New York at Albany in 2002, after which he spent the next seven years in the insurance industry as an Excess and Surplus Lines underwriter and wholesale broker. Mr. Collins graduated magna cum laude from New York Law Sch...