Fonar Corporation, a Delaware corporation, was established on July 17, 1978. The company divides the business into two parts. Their medical device division goes directly through Fonar. Their Physician Management and Diagnostic Services segment is conducted through their subsidiary Health Diagnostic Management, LLC (" HMCA "), which is also known as Health Management Corporation of America. HMCA provides management services, administrative services, billing and collection services, voucher services, contract negotiation, compliance consulting, procurement, IT services, recruitment, conducting interviews and managing personnel, medical record storage, office space, equipment, repair, maintenance services, and clerical and other non-medical personnel of medical service providers engaged in diagnostic imaging. In addition to acting as a management company, HMCA owns and operates four diagnostic imaging facilities in Florida, where corporate medical operations are permitted. Fonar is engaged in the business of designing, manufacturing, selling and repairing magnetic resonance imaging scanners (also known as "MRI" or "MR" scanners), which utilize MRI technology to detect and diagnose human diseases, abnormalities, other medical conditions and injuries.
