Fonar subsidiary purchases MSO

Fonar's physician practice management subsidiary, U.S. Health Management, has purchased a managed service organization (MSO) managing four high-volume primary-care practices in New York City. The practices are expected to add about $2 million to HMC's operating profits over the next twelve months, according to Fonar of Melville, NY.

Accounting for over 52,000 patient visits per year, the practices have experienced an annual growth rate of 30% over the past five years and have contracts with several third-party payors and major managed-care organizations, according to Fonar. Fonar president and chairman Dr. Raymond Damadian said he is pleased with the growth of the HMC subsidiary and is encouraged by the potential the expansion offers for future Fonar MRI sales.