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Fonar's Business Segments
Fonar's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
6
Largest Segment
Health Care Other
Total Revenue
$ 26
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Health Care Other91.4%
- Workers Compensation Personal Injury19.7%
- Manufacturing And Service Of Medical Equipment8.6%
- Other Revenue Source5.7%
- Commercial Insurance Managed Care3.9%
- Medicare Medicaid1.2%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Health Care Other | $ 24 | 91.4% |
| Workers Compensation Personal Injury | $ 5 | 19.7% |
| Manufacturing And Service Of Medical Equipment | $ 2 | 8.6% |
Annual Results
Revenue Share by Reportable Segment - FY
- Health Care Other91.4%
- Workers Compensation Personal Injury19.7%
- Manufacturing And Service Of Medical Equipment8.6%
- Other Revenue Source5.7%
- Commercial Insurance Managed Care3.9%
- Medicare Medicaid1.2%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Health Care Other | $ 24 | 91.4% |
| Workers Compensation Personal Injury | $ 5 | 19.7% |
| Manufacturing And Service Of Medical Equipment | $ 2 | 8.6% |
3 more segments available
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Description of Fonar
FONAR Corporation is a research and development, production, and marketing company devoted to MRI technology. FONAR Corporation is a leading manufacturer of magnetic resonance imaging (MRI) ventilators, compatible patient monitoring equipment, and diagnostic solutions. The company has been in existence for over 40 years and was founded in 1978 by Dr. Raymond Damadian.
FONAR is based in Melville, New York and has its headquarters in the United States. It is publicly traded on the NASDAQ stock exchange and has a market capitalization of over $280 million. FONAR Corporation develops, assembles, and sells MRI scanners and related equipment under the brand name UPRIGHT® MRI. The Company also develops and markets their proprietary MRIs for stroke diagnosis and management (SPIN Scan) and the assessment of certain types of attention deficit disorder (Biomarkers).
FONAR Corporation's scanners offer the unique feature of being able to scan the patient in an upright, weight-bearing position. That means that the scanner can scan the body in the exact position it is in during normal activities. The upright scanning process offers unique advantages over traditional imaging methods, including early detection of spinal injuries and musculoskeletal conditions.
FONAR Corporation's UPRIGHT® MRI scanners are FDA approved and have received numerous patents over the years. These patents protect the innovative technology of the scanners and help differentiate the company from its competitors. The company's products are sold throughout North America, Europe, and Asia.
FONAR has won several awards and honors over the years. In 2014, the company was named to Forbes' list of America's 100 Best Small Companies. In 2018, FONAR received the Best Places to Work award from Long Island Business News. This award is a testament to the company's focus on employee satisfaction and its commitment to building a culture that fosters innovation, creativity, and collaboration.
In conclusion, FONAR Corporation is a leading manufacturer of MRI scanning equipment and related equipment. It is dedicated to developing and marketing innovative MRI scanning solutions that can detect a wide range of conditions and diseases. The company is committed to promoting an environment of innovation, creativity, and collaboration that is focused on improving the quality of life for patients, customers, and employees.
FONAR is based in Melville, New York and has its headquarters in the United States. It is publicly traded on the NASDAQ stock exchange and has a market capitalization of over $280 million. FONAR Corporation develops, assembles, and sells MRI scanners and related equipment under the brand name UPRIGHT® MRI. The Company also develops and markets their proprietary MRIs for stroke diagnosis and management (SPIN Scan) and the assessment of certain types of attention deficit disorder (Biomarkers).
FONAR Corporation's scanners offer the unique feature of being able to scan the patient in an upright, weight-bearing position. That means that the scanner can scan the body in the exact position it is in during normal activities. The upright scanning process offers unique advantages over traditional imaging methods, including early detection of spinal injuries and musculoskeletal conditions.
FONAR Corporation's UPRIGHT® MRI scanners are FDA approved and have received numerous patents over the years. These patents protect the innovative technology of the scanners and help differentiate the company from its competitors. The company's products are sold throughout North America, Europe, and Asia.
FONAR has won several awards and honors over the years. In 2014, the company was named to Forbes' list of America's 100 Best Small Companies. In 2018, FONAR received the Best Places to Work award from Long Island Business News. This award is a testament to the company's focus on employee satisfaction and its commitment to building a culture that fosters innovation, creativity, and collaboration.
In conclusion, FONAR Corporation is a leading manufacturer of MRI scanning equipment and related equipment. It is dedicated to developing and marketing innovative MRI scanning solutions that can detect a wide range of conditions and diseases. The company is committed to promoting an environment of innovation, creativity, and collaboration that is focused on improving the quality of life for patients, customers, and employees.
Fonar Corporation is an established leader in the field of medical imaging, well-known for its innovative MRI technology and comprehensive service offerings. The companys portfolio is divided into two primary segments: the manufacturing and sale of MRI scanners and the provision of managed services through its diagnostic imaging centers. This multifaceted approach allows Fonar to cater to a wide array of healthcare needs.
Segments
1. Manufacturing and Sales of MRI Scanners
Fonar specializes in designing and manufacturing cutting-edge MRI scanners that are deployed in hospitals and imaging centers globally. The MRI scanners developed by Fonar are known for their high image quality and advanced capabilities, which play a crucial role in the accurate diagnosis of various medical conditions. Fonar’s MRI machines are particularly respected for their innovative design and user-friendly interfaces, enhancing both operator efficiency and patient comfort.
2. Provision of Management Services
This segment focuses on the operational management of Fonar’s wholly-owned diagnostic imaging centers. Fonar not only provides MRI services to patients but also ensures that the diagnostic centers operate smoothly and effectively. The management services include operational support, staff training, and processes aimed at delivering high-quality patient care and ensuring compliance with medical standards. By integrating effective management strategies, Fonar enhances the overall patient experience and optimizes the utilization of its imaging technology.
Products
1. Upright MRI Scanners
Fonar is particularly renowned for its Upright MRI scanners, a groundbreaking innovation that addresses common discomforts associated with traditional MRI procedures. Patients can remain in an upright position, which is especially beneficial for diagnosing spinal conditions like herniated discs, scoliosis, and other orthopedic issues. The Upright MRI allows for dynamic imaging, enabling healthcare professionals to visualize the spine and other structures in various postures, thereby providing a more comprehensive overview of the patient’s condition.
2. Neuro- and Extremity MRI Scanners
Fonars line of neuro and extremity MRI scanners expands imaging capabilities beyond traditional full-body scanners. These specialized machines are tailored for specific diagnostic applications, including neurological assessments and extremity imaging, making them suitable for orthopedics and neurology. Their design ensures that they provide high-resolution images while accommodating the unique anatomical features of the patients limbs and head.
3. Related MRI Accessories and Peripherals
To complement its MRI scanning technology, Fonar offers an extensive range of accessories and peripherals. These products are essential in enhancing the functionality and performance of the MRI systems. This includes upgrades for patient tables, accessories for patient comfort, and advanced software solutions that improve image processing and diagnostics. These offerings ensure that healthcare facilities can maximize the utility of their Fonar MRI systems.
Services
1. Installation and Integration Services
Fonar provides expert installation and integration services for all its MRI products. This ensures that health care facilities can smoothly incorporate new imaging technology into their operations. The technicians work closely with healthcare providers to tailor the installation process to their specific environments, ensuring optimal setup and functionality.
2. Training and Support Services
Recognizing that effective equipment usage is crucial for successful patient outcomes, Fonar offers comprehensive training and support services. This includes educational programs for healthcare providers to enhance their understanding of the MRI equipment and its functionalities. Fonars support services encompass both technical support for resolving equipment issues and clinical support to help healthcare professionals leverage the full capabilities of the MRI technology.
3. Maintenance and Repair Services
Fonar’s maintenance and repair services are pivotal in ensuring the longevity and reliability of its MRI scanners. The company’s experienced technicians carry out routine maintenance checks and address any potential issues swiftly to minimize downtime. This proactive approach helps clinics and hospitals maintain high operational efficiency and ensures that diagnostic capabilities are never compromised.
In summary, Fonar Corporation stands out in the medical imaging field not only by manufacturing advanced MRI technologies but also through exceptional service offerings that support healthcare providers in delivering high-quality patient care. By integrating product innovation with comprehensive management and support services, Fonar continues to play a significant role in the evolution of medical imaging.
Segments
1. Manufacturing and Sales of MRI Scanners
Fonar specializes in designing and manufacturing cutting-edge MRI scanners that are deployed in hospitals and imaging centers globally. The MRI scanners developed by Fonar are known for their high image quality and advanced capabilities, which play a crucial role in the accurate diagnosis of various medical conditions. Fonar’s MRI machines are particularly respected for their innovative design and user-friendly interfaces, enhancing both operator efficiency and patient comfort.
2. Provision of Management Services
This segment focuses on the operational management of Fonar’s wholly-owned diagnostic imaging centers. Fonar not only provides MRI services to patients but also ensures that the diagnostic centers operate smoothly and effectively. The management services include operational support, staff training, and processes aimed at delivering high-quality patient care and ensuring compliance with medical standards. By integrating effective management strategies, Fonar enhances the overall patient experience and optimizes the utilization of its imaging technology.
Products
1. Upright MRI Scanners
Fonar is particularly renowned for its Upright MRI scanners, a groundbreaking innovation that addresses common discomforts associated with traditional MRI procedures. Patients can remain in an upright position, which is especially beneficial for diagnosing spinal conditions like herniated discs, scoliosis, and other orthopedic issues. The Upright MRI allows for dynamic imaging, enabling healthcare professionals to visualize the spine and other structures in various postures, thereby providing a more comprehensive overview of the patient’s condition.
2. Neuro- and Extremity MRI Scanners
Fonars line of neuro and extremity MRI scanners expands imaging capabilities beyond traditional full-body scanners. These specialized machines are tailored for specific diagnostic applications, including neurological assessments and extremity imaging, making them suitable for orthopedics and neurology. Their design ensures that they provide high-resolution images while accommodating the unique anatomical features of the patients limbs and head.
3. Related MRI Accessories and Peripherals
To complement its MRI scanning technology, Fonar offers an extensive range of accessories and peripherals. These products are essential in enhancing the functionality and performance of the MRI systems. This includes upgrades for patient tables, accessories for patient comfort, and advanced software solutions that improve image processing and diagnostics. These offerings ensure that healthcare facilities can maximize the utility of their Fonar MRI systems.
Services
1. Installation and Integration Services
Fonar provides expert installation and integration services for all its MRI products. This ensures that health care facilities can smoothly incorporate new imaging technology into their operations. The technicians work closely with healthcare providers to tailor the installation process to their specific environments, ensuring optimal setup and functionality.
2. Training and Support Services
Recognizing that effective equipment usage is crucial for successful patient outcomes, Fonar offers comprehensive training and support services. This includes educational programs for healthcare providers to enhance their understanding of the MRI equipment and its functionalities. Fonars support services encompass both technical support for resolving equipment issues and clinical support to help healthcare professionals leverage the full capabilities of the MRI technology.
3. Maintenance and Repair Services
Fonar’s maintenance and repair services are pivotal in ensuring the longevity and reliability of its MRI scanners. The company’s experienced technicians carry out routine maintenance checks and address any potential issues swiftly to minimize downtime. This proactive approach helps clinics and hospitals maintain high operational efficiency and ensures that diagnostic capabilities are never compromised.
In summary, Fonar Corporation stands out in the medical imaging field not only by manufacturing advanced MRI technologies but also through exceptional service offerings that support healthcare providers in delivering high-quality patient care. By integrating product innovation with comprehensive management and support services, Fonar continues to play a significant role in the evolution of medical imaging.