Business Summary Fonar Corporation 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. The Company's products are the Fonar 360, the QUAD series of MRI scanners and the Echo MRI scanner. In addition to deriving revenues from the direct sale of MRI equipment, revenue is also generated from its installed base of customers through its service and upgrade programs. The Company's wholly owned subsidiary, Health Management Corporation of America, provides comprehensive management services to medical providers. These services include management services, administrative services, office space, equipment, repair and maintenance service and clerical and other non-medical personnel to physicians and other medical providers, including diagnostic imaging centers.
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