MRI vendor Fonar announced that effective February 11, Timothy Damadian, the elder son of founder Dr. Raymond Damadian, will become president and CEO of Fonar. Dr. Damadian will remain chairman of the board.
Timothy Damadian started his career at Fonar at the age of 21 installing magnets, shielded rooms, and electronics. He worked his way up the corporate ladder, eventually becoming vice president of operations. In 1997, he formed Health Management Company of America (HMCA), a wholly owned subsidiary of Fonar that would soon manage dozens of medical and diagnostic imaging offices that generated approximately $40 million in revenue for HMCA.
In 2001, Timothy Damadian left Fonar to form Integrity Health Care Management, a diagnostic imaging management company that would eventually manage 11 MRI scanning centers in New York and Florida. The company was sold to Health Diagnostics in 2007, and he returned to Fonar as a consultant in 2010.
