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FONAR Board of Directors Appoints Independent Director
Melville, New York--(Newsfile Corp. - July 2, 2025) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that on July 2, 2025, its board of directors appointed Mr. Robert M. Carrino as an independent director of the Company's board of directors. This appointment fills a vacancy on the board left by Ms. Claudette J.V. Chan, who recently retired from her position. The Company is very grateful for Ms. Chan's years of service and loyalty to FONAR.
Timothy Damadian, chairman and CEO of FONAR, said, "Our primary source of income and growth is attributable to our diagnostic imaging management subsidiary, Health Management Company of America (HMCA). In 2009, HMCA managed 9 MRI scanners; today it manages 44 MRI in New York and Florida that collectively complete over 200,000 MRI scans per year. We are proud of the success of HMCA and are committed to see it grow for years to come."
Mr. Damadian continued, "Mr. Carrino's extensive public accounting experience will be a tremendous asset to our organization. His nine years at CFGI, the leading global independent accounting and business advisory firm, which provides consulting services for various industries, including healthcare, will be helpful to us as we take initiatives to improve our business. His accounting expertise will be an invaluable resource as FONAR is transitioning into accelerated filer status. We are very fortunate to have Mr. Carrino on FONAR's board of directors and we look forward to working with him."
Mr. Carrino is a partner at CFGI, LLC in New York City, where he leads the firm's SPAC practice. He provides complex accounting and consulting services to both public and private companies. Prior to joining CFGI, Mr. Carrino was an audit manager at KPMG, LLP's Metro New York Long Island Office. Mr. Carrino, a Certified Public Accountant, earned the degree of Bachelor of Science in Business Administration with a concentration in accounting from Western New England University.
About FONAR
FONAR, The Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI Company in the industry. FONAR went public in 1981 (Nasdaq:FONR). FONAR sold the world's first commercial MRI to Ronald J. Ross, MD, Cleveland, Ohio. It was installed in 1980. Dr. Ross and his team began the world's first clinical MRI trials in January 1981. The results were reported in the June 1981 edition of Radiology/Nuclear Medicine Magazine and the April 1982 peer-reviewed article in the Journal Radiology. The technique used for obtaining T1 and T2 values was the FONAR technique (Field fOcusing Nuclear mAgnetic Resonance), not the back projection technique. www.fonar.com/innovations-timeline.html.
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