Fonar (NASDAQ:FONR) is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.
Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel. The company holds numerous patents covering MRI technology innovations, including its patented hydrostatic piston design that facilitates open‐gantry scanning. Fonar’s research and development efforts focus on expanding the clinical applications of multi-positional MRI, with an emphasis on improving patient comfort and diagnostic accuracy.
Through its subsidiaries, Fonar operates a chain of diagnostic imaging centers offering outpatient MRI services in key U.S. markets. These centers serve a broad spectrum of patients—from orthopedic and sports medicine referrals to neurology and spine care—leveraging Fonar’s unique imaging capabilities to inform treatment plans. The diagnostic services business complements the company’s equipment sales by providing ongoing revenue from scan fees, facility operations and patient referrals.
Founded in 1978 by Dr. Raymond V. Damadian—widely recognized as the inventor of the first MRI scanner—Fonar has maintained a pioneering role in medical imaging for over four decades. The company’s executive leadership continues to advance its core mission of developing innovative MRI solutions, expanding clinical applications and supporting healthcare providers worldwide in the early detection and management of disease.
