Fonar (NASDAQ:FONR) (NASDAQ: FONR) is a medical technology company specializing in the development, manufacture and service of magnetic resonance imaging (MRI) systems. Founded in 1978 and headquartered in Melville, New York, the company offers a range of MRI solutions designed to provide high-resolution diagnostic imaging in both clinical and research settings. Fonar’s product line includes its signature Upright™ MRI scanners, which enable patients to be scanned in weight-bearing positions, as well as open and semi-open MRI units tailored to various clinical applications.
The company’s core activities encompass research and development, system production, sales, installation and ongoing maintenance of MRI equipment. Fonar invests in proprietary technologies aimed at enhancing image quality, reducing scan times and improving patient comfort. Its service division delivers nationwide and international support, including preventive maintenance, on-site repairs and remote technical assistance. Through distributor partnerships and direct sales efforts, Fonar has installed systems in hospitals, imaging centers and research institutions around the globe.
Fonar’s origins are closely tied to the pioneering work of its late founder, Dr. Raymond V. Damadian, who performed the world’s first full-body MRI scan and founded the company to commercialize the technology. Under Dr. Damadian’s leadership, Fonar received the first U.S. Food and Drug Administration clearance for a commercial MRI scanner in 1980, establishing a foundation for the widespread adoption of MRI as a noninvasive diagnostic tool. Over the decades, Fonar has continued to innovate, securing patents for its upright imaging capabilities and developing enhancements that address both spinal and musculoskeletal applications.
Today, Fonar is led by President and Chief Executive Officer Stephen R. Dwoskin, whose background in medical device finance and operations underpins the company’s growth strategies. Alongside a seasoned management team, Dwoskin focuses on expanding Fonar’s global footprint, advancing technology development and strengthening customer support networks. With its combination of specialized upright MRI platforms and comprehensive service offerings, Fonar remains a distinctive player in the medical imaging industry.
