FONAR Set to Join Russell Microcap Index
June 24 2013 - 11:00AM
Marketwired
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™,
announced today at its annual meeting at the Double Tree Hotel,
Wilmington Downtown, Wilmington, Delaware that it has been selected
to join the Russell Microcap Index when Russell Investments
reconstitutes its comprehensive set of U.S. and global equity
indexes on June 28.
Membership in the Russell Microcap Index, which remains in place
for one year, means automatic inclusion in the appropriate growth
and value style indexes. Russell determines membership for its
equity indexes primarily by objective, market-capitalization
rankings and style attributes.
Raymond V. Damadian, MD, President and Chairman of FONAR has
remarked how pleased he was to have FONAR's common stock selected
for this prestigious index. Dr. Damadian has decided to make this
announcement at FONAR's annual meeting.
Indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and
active investment strategies. Russell calculates more than 700,000
benchmarks daily covering approximately 98 percent of the
investable market globally, 80 countries and more than 10,000
securities. Approximately $4.1 trillion in assets are benchmarked
to the Russell Indexes.
Annual reconstitution of Russell Indexes captures the 4,000
largest U.S. stocks as of the end of May, ranking them by total
market capitalization to create the Russell 3000 Index and Russell
Microcap Index. These investment tools originated from Russell's
multi-manager investment business in the early 1980s when the
company saw the need for a more objective, market-driven set of
benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell Microcap and other Russell
Indexes is available at
http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.
About Russell:
Russell Investments (Russell) is a global asset manager and one
of only a few firms that offers actively managed multi-asset
portfolios and services that include advice, investments and
implementation. Russell stands with institutional investors,
financial advisors and individuals working with their advisors --
using the firm's core capabilities that extend across capital
market insights, manager research, portfolio construction,
portfolio implementation and indexes to help each achieve their
desired investment outcomes.
Russell has more than $173 billion in assets under management
(as of 3/31/2013) and works with over 2,500 institutional clients,
independent distribution partners and individual investors
globally. As a consultant to some of the largest pools of capital
in the world, Russell has $2.6 trillion in assets under advisement
(as of 12/31/2012). It has four decades of experience researching
and selecting investment managers and meets annually with more than
2,200 managers around the world. Russell traded more than $1.4
trillion in 2012 through its implementation services business.
About FONAR
FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR
Scanning™, is an AMERICAN COMPANY that was incorporated in 1978,
and is the first, oldest and most experienced MRI company in the
industry. FONAR introduced the world's first commercial MRI in
1980, and went public in 1981. Since its inception, nearly 300
recumbent-OPEN MRIs and over 150 UPRIGHT® Multi-Position™ MRI
scanners have been installed worldwide. FONAR's stellar product is
the UPRIGHT® MRI (also known as the STAND-UP® MRI), the only
whole-body MRI that performs Position™ imaging (pMRI™) and scans
patients in numerous weight-bearing positions, i.e. standing,
sitting, in flexion and extension, as well as the conventional
lie-down position. The FONAR UPRIGHT® MRI often sees the patient's
problem that other scanners cannot because they are lie-down only.
The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic
rejection rate by patients. As a FONAR customer states, "If the
patient is claustrophobic in this scanner, they'll be
claustrophobic in my parking lot." Approximately 85% of patients
are scanned sitting while they watch a 42" flat screen TV. FONAR is
headquartered on Long Island, New York.
UPRIGHT® and STAND-UP® are registered trademarks and The
Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™,
Upright Radiology™, The Proof is in the Picture™, True Flow™,
pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and
Landscape™, are trademarks of FONAR Corporation.
This release may include forward-looking statements from the
company that may or may not materialize. Additional information on
factors that could potentially affect the company's financial
results may be found in the company's filings with the Securities
and Exchange Commission.
Contact: Daniel Culver Director of Communications E-mail: Email
Contact www.fonar.com
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