FONAR Subsidiary HMCA Acquires Another MRI Imaging Center, Bringing Total to 26
April 04 2017 - 8:00AM
FONAR Corporation (NASDAQ:FONR), The Inventor of MR Scanning™,
reported today that its subsidiary Health Management Company of
America, LLC (HMCA) purchased all interests and assets, including
an MRI system, of Radwell Leasing, LLC and Radwell, LLC, located in
the Westchester Medical Pavilion at 311 North Street, White Plains,
New York. From there HMCA will provide non-medical management
services to Comprehensive MRI of New York, P.C., doing business as
Comprehensive MRI of White Plains. The White Plains facility
brings the total number of HMCA-managed centers to 26: 19 in New
York and 7 in Florida.
Peggy Anne McCann, HMCA’s regional sales manager for the
Bronx/Westchester area, said, “We are very excited about this new
location. It’s a natural and practical extension of our
existing HMCA footprint into a very promising patient and physician
population. The Westchester Medical Pavilion, a
72,000-square-foot medical office complex, is considered the
best-located and highest quality medical building in Westchester.
So that’s a real plus as well.”
Tim Damadian, President and CEO of FONAR, said, “We’re very
pleased with this latest acquisition, another step forward in the
execution of our business plan.”
About HMCAHealth Management Company of America, LLC (HMCA), a
wholly-owned subsidiary of FONAR Corporation, provides non-medical
management services for diagnostic imaging centers. At
present, HMCA employs approximately 400 full-time employees and
manages 26 centers in New York and Florida, collectively equipped
with 33 MRI scanners.
About FONAR FONAR, The Inventor of MR Scanning™, is located in
Melville, NY. The Company 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 stellar 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 in the conventional
lie-down position. The FONAR UPRIGHT® Multi-Position™ MRI often
sees the patient’s problem that other scanners cannot because they
are lie-down-only, “weightless” scanners. The patient-friendly
FONAR UPRIGHT® Multi-Position™ MRI has a near-zero claustrophobic
rejection rate by patients. As one FONAR customer states, “If
patients are claustrophobic in this scanner, they’ll be
claustrophobic in my parking lot.” Approximately 85% of
patients are scanned sitting while they watch a large flat-screen
TV.
FONAR has new works-in-progress technology for visualizing and
quantifying the flow of cerebrospinal fluid (CSF) which circulates
throughout the brain and vertebral column at the rate of 32 quarts
per day. This imaging and quantifying of the dynamics of this vital
life-sustaining physiology of the body’s neurologic system has been
made possible first by FONAR’s introduction of the MRI and now, due
to this latest works-in-progress, makes possible quantifying CSF in
all the normal positions of the body, particularly in its upright
flow against gravity. The types of patients who will benefit from
this technology include those with various types of dementia, such
as former NFL quarterback Jim McMahon.
FONAR’s substantial list of patents include recent patents for
its technology enabling full weight-bearing MRI imaging on all the
gravity sensitive regions of the human anatomy, especially the
brain, extremities and spine. FONAR’s UPRIGHT® Multi-Position™ MRI
is the only scanner licensed under these patents.
UPRIGHT® and STAND-UP® are registered trademarks and The
Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™,
Upright Radiology™, The Proof is in the Picture™, True Flow™,
pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and
Landscape™, are trademarks of FONAR Corporation.
This release may include forward-looking statements from the
company that may or may not materialize. Additional information on
factors that could potentially affect the company's financial
results may be found in the company's filings with the Securities
and Exchange Commission.
Contact: Daniel Culver
Director of Communications
FONAR Corporation 631-694-2929
email: DanCulver@Fonar.com
fax: 631-390-1772
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