MELVILLE, N.Y.--(BUSINESS WIRE)--FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, announced today that its Chairman, President and Founder, Raymond Damadian, M.D., purchased 8,500 shares of FONAR stock in the open market on May 15, 2007. This brings his ownership to 120,302.12 shares of common stock. Dr. Damadian has not sold a share of FONAR stock in more than a decade. The purchase was made pursuant to the Company’s corporate governance guidelines for insider stock purchases.
