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Fonar Corp. Message Board

  • bacidog2 bacidog2 Feb 22, 2013 4:01 PM Flag

    Samsung Acquisition potential

    Samsung is expanding into medical imaging, and just purchased niche CT manufacturer Neurologica last month. No big companies to buy, so they will probably be looking at a smaller niche MR company with engineering know-how in MR next....

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    • Engineering know-how? Fonar doesn't even make stand-up machines anymore. Their .6T Standup MRI is now 14 years old (introduced in 1999), and they scrapped their manufacturing facility about 5 - 6 years ago. All they are attempting to sell are used machines. The only company that now seems to be selling new standup or upright MRI machines is Paramed Medical. Fonar doesn't even bother showing up at radiology trade shows anymore, Dr. Damadian, the CEO and only scientist for the company is turning 78 next month and is now a part time employee. They virtually shut down R&D years ago and have no new technology to offer. If Samsung enters the MRI arena, you can bet it will be with new technology and not something 14 years old. Dream on. FYI, their last MRI machine sale was Nov., 2011 and that was a used/refurbished machine. If you scan the market for used MRI machines you will see several Fonar machines for sale for $445k. Go to the company website and see if you can find out there how to buy a machine? Fonar is now a service and medical billing company.

      • 1 Reply to a_c_t_u
      • Look at Fonar's old 10k's and you will see they use to make some good money on their Technology License and Royalty fees from 1999 - 2005. When their technology was relevant they had about $2.4 million a year in License and Royalty Fee revenue but they have not seen a single dime for those fees since 2005. That should tell you something. They currently have no patents anyone needs nor wants. Oh, and design patents in the US have a life of 14 years so if Fonar's Upright MRI was introduced in 1999, do the math.

    • Bacidog2, very good point. Samsung is trying to keep up with the Germans and Japanese. If they want to play with Siemens and Hitachi they may HAVE to buy Fonar. Damadian has no beef with Samsung.

      Sentiment: Strong Buy

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