FONAR Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2023

FONAR Corporation is engaged in the business of designing, manufacturing, selling and servicing magnetic resonance imaging scanners, MRI, which utilize MRI technology for the detection and diagnosis of human disease, abnormalities, other medical conditions and injuries. The Company conducts its business in two segments. The medical equipment segment is conducted directly through FONAR. The physician management and diagnostic services segment is conducted through its subsidiary Health Management Corporation of America (HMCA). HMCA provides management services, administrative services, billing and collection services, credentialing services, contract negotiations, compliance consulting, purchasing, information technology (IT) services, hiring, conducting interviews and managing personnel, storage of medical records, office space, equipment, repair, maintenance service, and clerical and other non-medical personnel to medical providers engaged in diagnostic imaging.