Business
FONAR Subsidiary, HMCA, Expands with Acquisition in Yonkers, New York
Melville, New York--(Newsfile Corp. - March 31, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announced today that it has acquired a
About this update from Fonar Corporation
[{"type":"text","content":"Melville, New York--(Newsfile Corp. - March 31, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announced today that it has acquired a Stand-Up® MRI facility in Yonkers, New York, from where its diagnostic imaging management subsidiary, Health Management Company of America (HMCA) will provide non-medical management services for Comprehensive MRI of New York, P.C.\nTim Damadian, president and CEO of FONAR Corporation, said, \"We're very excited about this Yonkers location. Physicians have been referring their patients to the previous practice at this location for several years. Our goal is to make the transition for both patients and referring doctors as smooth as possible. We now manage two locations in Yonkers. Since they are across town from one another, the additional location very nicely expands and strengthens our presence in Westchester County. By providing the marketing techniques and the quality of service to patients and referring physicians that have made other HMCA-managed facilities successful, we expect not only to preserve the existing level of business, but to substantially increase it.\"\nThis latest acquisition brings the total number of HMCA-managed MRI scanners to 39: Twenty-five (25) in New York and fourteen (14) in Florida.\nAbout FONAR\nFONAR, the Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the STAND-UP® MRI), the only whole-body MRI that performs Position™ Imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often detects patient problems that other MRI scanners cannot because they are lie-down, \"weightless-only\" scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a FONAR customer states, \"If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot.\" Approximately 85% of patients are scanned sitting while watching TV.\nFONAR has new works-in-progress technology for visualizing and quantify...