FONAR Set to Join Russell 3000 Index
June 23 2017 - 12:37PM
FONAR Corporation (NASDAQ:FONR), The Inventor of MR Scanning™,
reported today that it is set to join the broad-market Russell
3000® Index at the conclusion of the Russell indexes annual
reconstitution, effective after the US market opens on June 26,
according to a preliminary list of additions posted June 9 and
today, June 23.
The annual Russell indexes reconstitution
captures the 4,000 largest US stocks as of the end of May, ranking
them by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place for one year, means
automatic inclusion in the large-cap Russell 1000® Index or
small-cap Russell 2000® Index as well as in appropriate growth and
value style indexes. FTSE (Financial Times and Stock Exchange)
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
Raymond Damadian, founder and Chairman of FONAR
said, “I am proud of this remarkable milestone for our Company. It
is based on our Company’s share price and is an indication that we
have been delivering shareholder value. It is a result of the
successful strategy we have put in place in recent years that has
allowed the Company to be profitable for 28 consecutive
quarters.”
Timothy R. Damadian, President and CEO of FONAR
said, “FONAR’s inclusion in the Russell 3000 is important because
it gives institutions, mutual funds and the investing community
greater visibility of our Company. They’re all looking for
successful value stocks, and we’ve shown that FONAR can
deliver.”
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. Approximately $8.4
trillion in assets are benchmarked against Russell’s US indexes.
Russell indexes are part of FTSE Russell, a leading global index
provider. For more information on the Russell 3000® Index and the
Russell indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
About FTSE Russell:
FTSE Russell is a leading global index provider
creating and managing a wide range of indexes, data and analytic
solutions to meet client needs across asset classes, style and
strategies. Covering 98% of the investable market, FTSE Russell
indexes offer a true picture of global markets, combined with the
specialist knowledge gained from developing local benchmarks around
the world.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $12.5 trillion is currently benchmarked to FTSE
Russell indexes. For over 30 years, leading asset owners, asset
managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create investment funds, ETFs, structured products and index-based
derivatives. FTSE Russell indexes also provide clients with tools
for asset allocation, investment strategy analysis and risk
management.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on index innovation and
customer partnership applying the highest industry standards and
embracing the IOSCO Principles. FTSE Russell is wholly owned by
London Stock Exchange Group.
For more information, visit
www.ftserussell.com
About FONAR:
FONAR, 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 in the conventional lie-down position. The
FONAR UPRIGHT® MRI often detects patient problems that other MRI
scanners cannot because they are lie-down and "weightless-only"
scanners. The patient-friendly UPRIGHT® MRI has a near-zero
claustrophobic rejection rate by patients. Regarding patient
comfort, as one FONAR customer stated, "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.
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 by this latest
works-in-progress method for quantifying CSF flow in all the normal
positions of the body, particularly in its upright flow against
gravity. Patients with whiplash or other neck injuries are among
those who will benefit from this new understanding.
FONAR’s substantial list of patents includes
recent patents for its technology enabling full weight-bearing MRI
imaging of 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
E-mail: investor@fonar.com
www.fonar.com
The Inventor of MR Scanning™
An ISO 9001 Company
Melville, New York 11747
Phone: (631) 694-2929
Fax: (631) 390-1772
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