M&A · Healthcare · Electromedical & Electrotherapeutic Apparatus
Management Group led by Timothy Damadian to acquire Fonar Corp
Announced Dec 29, 2025 · Closed Jun 3, 2026
Deal value—
Premium31.5%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$19.00 per share
Transaction
- Acquirer
- Management Group led by Timothy Damadian
- Target
- Fonar Corp (FONR)
- Buyer type
- Strategic
- Offer price per share
- $19.00
- Enterprise value
- —
- Status
- Closed Jun 3, 2026
Deal protections
- Break fee (target pays)
- $0.5M
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Not disclosed
Sector context · Healthcare
- Comparable deals
- 97 in the prior 24 months
- Premium
- 31.5% vs. 59.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- Sector median 3.4%
Timeline
- AnnouncedDec 29, 2025
- Proxy filedFeb 26, 2026
- Definitive proxyApr 16, 2026
- Shareholder voteMay 28, 2026
- ClosedJun 3, 2026
Valuation · fairness opinions
Other analysis$10.32$11.06
Offer $19.00
Implied value per Fonar Corp share by analysis.