Tech - 3332: Very Profitable, Established, Upright MRI Center in North East with Good Growth Potential

Unique Possibilities of Upright FONAR MRI Expands Geographic Market

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Patient Sitting in Upright MRIThis is an established 8-year old Center and one of only a handful of Upright centers in the state. As a result, it has enjoyed a very high patient volume (average of over 325 scans / month). Whereas the scan volumes have been pretty stable over past several years, it is about to enjoy a period of high growth due to a number of reasons:

a. Acceptance of Aetna insurance
b. Expansion into personal injury area, where upright scanner enjoys some unique advantages and
c. Expansion of insured patient volume as Affordable Care Act takes hold.

The Center had a record 400+ scans in October 2014 and the revenues are tracking the previous year's revenues.


World's First Radiation-Free Diagnosis and Evaluation of ScoliosisFonar upright machines are unique open MRIs as they do not force the patients to lie down and hence are preferred by many patients as well as physicians. Besides being friendly to claustrophobic patients, Fonar allows scan in the normal posture of the patients. Unlike other static MRIs, only Upright machines allow scans of spines and joints to be taken in positions (standing or sitting) where patients are feeling the pain, by allowing the patients to put normal weight load on these areas. This allows physicians, and surgeons to better treat their patients. This is also ideal in injury cases where injuries are better observed under normal weight bearing positions.

Because of its uniqueness, patients routinely travel up to one hour to come to this center, and it is not unusual for them to come from as far as three to four hours away. Whereas usual imaging centers attract patients from about 10 mile-radius, this Center has patients coming from throughout the county as well as two adjoining states.


The Center has seen a steady volume of last few years. This year the Center is expecting significant growth in volume for multiple reasons outlined below:

  1. Center started accepting Aetna insurance in mid-2014. Although it accepts most major insurances it was not accepting Aetna. Acceptance of Aetna may bring significant additional reads per month.
  2.  Majority of the scan volume at the Center, is currently pure medical, for truly claustrophobic patients. They have recently started marketing the Center for automotive injury referrals and it is expected that this segment of the referral business will increase once the referring population understands the increase in hidden pathology realized by weight-bearing technology. This is expected to bring a fair number of such cases (estimated at about 15-20 per month).
  3. With Affordable Healthcare law, more patients will be in the insurance pool and the Center will also see more volume as the law gains foothold.



The sellers have many other businesses and looking to free up some time. However, one of the partners, Radiologist, will stay on and become partners with new buyer.


This is an attractive opportunity for many different types of buyers.

  • Very successful, high volume, solid profits, entering a growth period
  • Competitive Advantages of an Upright – weight-bearing scans, very comfortable, wider marketing area
  • High Barrier of Entry – Expensive to start a new center, new centers closed to major insurances
  • Great Location – In a modern, Class A Medical / Professional Building, in medical corridor, close to three hospitals, medical office complexes, adult care centers, adult homes


•  Gross Revenue: $1.66 million
•  EBITDA: $426K
•  Assets: $700K + Buildout (about $450K)
•  Offered Debt Free
•  Asking Price: $1.75 million ((includes $300K of collectiblle accounts receivable, and prepaid expenses / cash that the buyer will get))

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