Exhibit (c)(ii)

 

FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee As of July 7, 2025

FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Table of Contents Valuation as of July 7, 2025 Table of Contents Exhibit # Conclusion Summary of Value. Exhibit 1 Fairness Opinion Analysis Football Field Analysis.Exhibit 2 Historical Financial Statements Analysis Comparative Balance Sheets.Exhibit 3 Comparative Income Statements. Exhibit 4 Financial Ratio Analysis.Exhibit 5 Income Approach Discounted Cash Flow Analysis. Exhibit 6 Tax Amortization Benefit (TAB). Exhibit 7 Working Capital Analysis.Exhibit 8 Depreciation and Capital Expenditures Analysis. Exhibit 9 WACC—Capital Asset Pricing Model.Exhibit 10 Market Approach Guideline Public Company—BS & IS Analysis.Exhibit 11 Guideline Public Company—Ratio Analysis.Exhibit 12 Guideline Public Company—Trend Analysis.Exhibit 13 Guideline Public Company—Benchmarking. Exhibit 14 Guideline Public Company—Market and Financial Data. Exhibit 15 Guideline Public Company—Multiple Analysis.Exhibit 16 Market Approach: Guideline Public Company Method.Exhibit 17 One Day Stock Premium Market Transactions.Exhibit 18 Cost Approach Liquidation Scenario—Third Party Collection.Exhibit 19 Guideline Public Company Tearsheet GPC FONAR Corporation. GPC 1 Ardent Health, Inc. GPC 2 Astrana Health, Inc. GPC 3 Bruker Corporation. GPC 4 Community Health Systems, Inc.GPC 5 HCA Healthcare, Inc. GPC 6 Hologic, Inc. GPC 7 Nutex Health Inc. GPC 8 RadNet, Inc. GPC 9 Tenet Healthcare Corporation. GPC 10

Exhibit 1 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Summary of Value Valuation as of July 7, 2025 Valuation Method Weight (1) Value Indications Low Mid High Income Approach (2) Discounted Cash Flow Method 50.0% $ 95,200 $ 97,700 $ 100,500 Market Approach (3) Guideline Public Company Method 25.0% $ 104,400 $ 110,900 $ 117,500 Cost Approach (4) Liquidation Scenario 25.0% $ 88,300 $ 89,300 $ 90,200 Fair Market Value of Common Equity (Control) $ 95,775 $ 98,900 $ 102,175 (5) Divided by: Fully-Diluted Number of Shares Outstanding 6,203.5 6,203.5 6,203.5 Fair Market Value Per Share $ 15.44 $ 15.94 $ 16.47 Implied Control Premium Offer Price Per Share vs air Market Value Per Share Offer Price as of July 7, 2025 (A) $ 17.25 $ 17.25 $ 17.25 Fair Market Value Per Share (B) $ 15.44 $ 15.94 $ 16.47 Implied Control Premium (A / B—1) 11.7% 8.2% 4.7% Offer Price Per Share vs 90 ay Average Price Per Share Offer Price as of July 7, 2025 (A) $ 17.25 $ 17.25 $ 17.25 (6) FONAR 90 Day Average Closing Price -June 30, 2025 (B) $ 13.60 $ 13.60 $ 13.60 Implied Control Premium (A / B—1) 26.8% 26.8% 26.8% Market Reference Data—Control Premium (7) One Day Stock Premium Market Transactions 15.00% 20.0% 25.0% Notes: (1) A lower weight was assigned to the Market Approach due to differences in size and core business operations between FONAR and the selected guideline public companies. Similarly, the Liquidation Scenario under the Cost Approach was given less weight, as the Company’s demonstrated ability to generate positive cash flows makes a liquidation outcome unlikely. (2) See Exhibit 6. (3) See Exhibit 17. (4) See Exhibit 19. (5) Sourced from FONAR’s 3/31/2025 10-Q Filing. (6) Reflects the 90-day average closing price. (7) See Exhibit 18.

Exhibit 2 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Football Field Analysis Valuation as of July 7, 2025 Price Per Share Offer Price $17.25 $15.44 $16.47 Weighted $15.35 $16.20 DCF $16.83 $18.94 GPC $14.23 $14.54 Liquidation $12.02 $14.96 Price 90D Range (As of 6/30/25) $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 Notes: Calculated based on information presented in Exhibit 1.

Exhibit 3 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Comparative Balance Sheets Valuation as of July 7, 2025 (in $ Thousands) Fiscal Years EndedJune 30, 2021 2022 2023 2024 2025 Assets Cash & Equivalents $ 44,460 23.5% $ 48,723 24.4% $ 51,280 25.6% $ 56,341 26.3% $ 56,334 26.0% Short-Term Investments 32 0.0% 32 0.0% 33 0.0% 136 0.1% 120 0.1% Accounts Receivable 61,200 32.3% 66,467 33.3% 70,171 35.0% 79,846 37.3% 82,944 38.2% Inventory 1,663 0.9% 2,360 1.2% 2,570 1.3% 2,715 1.3% 2,813 1.3% Prepaid Expenses and Other Current Assets 1,227 0.6% 1,104 0.6% 1,608 0.8% 1,286 0.6% 2,604 1.2% Total Current Assets 108,583 57.3% 118,686 59.5% 125,661 62.6% 140,324 65.5% 144,815 66.7% Net Property & Equipment 21,850 11.5% 22,282 11.2% 22,146 11.0% 18,709 8.7% 18,532 8.5% Goodwill 4,269 2.3% 4,269 2.1% 4,269 2.1% 4,269 2.0% 4,269 2.0% Intangible Assets, Net 4,038 2.1% 3,704 1.9% 3,432 1.7% 2,870 1.3% 2,992 1.4% Right of Use Assets—Operating Leases 30,133 15.9% 34,232 17.2% 33,069 16.5% 38,428 17.9% 35,136 16.2% Right of Use Asset—Financing Leases 1,127 0.6% 928 0.5% 729 0.4% 530 0.2% 377 0.2% Accounts Receivable Long-Term 2,880 1.5% 1,872 0.9% 710 0.4% 829 0.4% 3,550 1.6% Deferred Tax Assets, Long-Term 15,959 8.4% 12,842 6.4% 10,042 5.0% 7,223 3.4% 6,346 2.9% Other Long-Term Assets 667 0.4% 526 0.3% 524 0.3% 481 0.2% 476 0.2% Loans Receivable, Long-Term—0.0%—0.0%—0.0% 581 0.3% 555 0.3% Total Noncurrent Assets 59,073 31.2% 58,374 29.3% 52,775 26.3% 55,213 25.8% 53,701 24.7% Total Assets 189,506 100.0% 199,342 100.0% 200,582 100.0% 214,246 100.0% 217,048 100.0% Liabilities & Equity Current Portion of Long-Term Debt $ 173 0.1% $ 40 0.0% $ 44 0.0% $ 47 0.0% $—0.0% Financing Lease Liability, Current Portion 203 0.1% 210 0.1% 218 0.1% 226 0.1% 244 0.1% Accounts Payable 1,866 1.0% 1,551 0.8% 1,579 0.8% 1,856 0.9% 1,302 0.6% Accrued Expenses 6,279 3.3% 5,180 2.6% 4,822 2.4% 5,131 2.4% 6,975 3.2% Operating Lease Liability-current Portion 3,534 1.9% 3,880 1.9% 3,905 1.9% 3,474 1.6% 3,383 1.6% Unearned Revenue 5,112 2.7% 4,650 2.3% 4,435 2.2% 4,314 2.0% 4,866 2.2% Income Tax Payable 774 0.4% 382 0.2% 48 0.0% 1,461 0.7%—0.0% Other Current Liabilities 2,109 1.1% 855 0.4% 574 0.3% 1,349 0.6% 354 0.2% Total Current Liabilities 20,049 10.6% 16,749 8.4% 15,624 7.8% 17,857 8.3% 17,124 7.9% Long-Term Debt 760 0.4% 155 0.1% 115 0.1% 67 0.0%—0.0% Financing Lease Liability—Long-Term 1,048 0.6% 838 0.4% 620 0.3% 395 0.2% 143 0.1% Operating Lease Liability, Long Term 28,975 15.3% 33,091 16.6% 32,105 16.0% 37,468 17.5% 35,149 16.2% Unearned Revenue, Non-Current 2,801 1.5% 1,857 0.9% 760 0.4% 1,175 0.5% 3,801 1.8% Deferred Tax 238 0.1% 216 0.1% 395 0.2% 372 0.2% 372 0.2% Other Liabilities 171 0.1% 107 0.1% 42 0.0% 32 0.0% 173 0.1% Due to Related Medical Practices 93 0.0% 93 0.0% 93 0.0% 93 0.0% 93 0.0% Total Long-Term Liabilities 34,087 18.0% 36,357 18.2% 34,130 17.0% 39,601 18.5% 39,729 18.3% Total Liabilities 54,136 28.6% 53,106 26.6% 49,755 24.8% 57,458 26.8% 56,854 26.2% Common Stock 1 0.0% 1 0.0% 1 0.0% 1 0.0% 1 0.0% Additional Paid In Capital 185,101 97.7% 184,532 92.6% 182,613 91.0% 180,608 84.3% 178,757 82.4% Retained Earnings (46,008) -24.3% (33,567) -16.8% (24,191) -12.1% (13,624) -6.4% (5,199) -2.4% Treasury Stock (675) -0.4% (675) -0.3% (516) -0.3% (1,017) -0.5% (860) -0.4% Minority Interest (3,049) -1.6% (4,054) -2.0% (7,079) -3.5% (9,180) -4.3% (12,504) -5.8% Total Stockholders’ Equity 135,370 71.4% 146,236 73.4% 150,827 75.2% 156,788 73.2% 160,195 73.8% Total Liabilities & Equity $ 189,506 100.0% $ 199,342 100.0% $ 200,582 100.0% $ 214,246 100.0% $ 217,048 100.0% Working Capital Calculations—As a % of Total Assets Working Capital (WC) $ 88,534 46.7% $ 101,937 51.1% $ 110,036 54.9% $ 122,467 57.2% $ 127,691 58.8% Debt-Free Working Capital (DFWC) $ 88,910 46.9% $ 102,188 51.3% $ 110,298 55.0% $ 122,740 57.3% $ 127,935 58.9% Debt-Free, Cash-Free Working Capital (DFCFWC) $ 44,417 23.4% $ 53,432 26.8% $ 58,985 29.4% $ 66,263 30.9% $ 71,481 32.9% Notes: Financials for 2021 through 2024 are sourced from the Company’s audited financial statements, while 2025 financials are based on the Company’s internal statements.

Exhibit 4 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Comparative Income Statements Valuation as of July 7, 2025 (in $ Thousands) Fiscal Years Ended June 30, 2021 2022 2023 2024 2025 Net Service and Repair Fees-related Parties 110 0.1% 110 0.1% 110 0.1% 139 0.1% 180 0.2% Product Sales 1,288 1.4% 518 0.5% 732 0.7% 738 0.7% 563 0.5% Net Service and Repair Fees 7,639 8.5% 7,591 7.8% 7,419 7.5% 7,452 7.2% 8,234 7.9% Net Patient Fee Revenue 23,307 25.9% 29,582 30.3% 29,794 30.2% 33,816 32.9% 33,179 31.8% Management Fees 10,976 12.2% 11,564 11.8% 11,950 12.1% 11,950 11.6% 11,950 11.5% Management and Other Fees 46,609 51.8% 48,227 49.4% 48,640 49.3% 48,789 47.4% 50,245 48.1% Net Revenue $ 89,930 100.0% $ 97,592 100.0% $ 98,645 100.0% 102,884 100.0% 104,351 100.0% Total Cost of Goods Sold 46,456 51.7% 50,578 51.8% 52,897 53.6% 57,744 56.1% 57,718 55.3% Gross Profit 43,474 48.3% 47,014 48.2% 45,748 46.4% 45,140 43.9% 46,633 44.7% Operating Expenses: Selling, General and Administrative Expenses 20,658 23.0% 18,977 19.4% 24,851 25.2% 22,272 21.6% 28,969 27.8% R & D Exp. 1,636 1.8% 1,494 1.5% 1,568 1.6% 1,736 1.7% 1,576 1.5% Depreciation 3,697 4.1% 4,114 4.2% 4,149 4.2% 4,227 4.1% 3,911 3.7% Amort. of Intangibles 385 0.4% 422 0.4% 392 0.4% 369 0.4% 578 0.6% Total Operating Expenses 26,376 29.3% 25,007 25.6% 30,959 31.4% 28,605 27.8% 35,034 33.6% Operating Profit (EBIT) 17,098 19.0% 22,007 22.6% 14,789 15.0% 16,535 16.1% 11,599 11.1% Other Income (Expenses) Interest Expense (249) -0.3% (347) -0.4% (50) -0.1% (77) -0.1% (26) 0.0% Investment Income 312 0.3% 247 0.3% 1,222 1.2% 2,126 2.1% 2,119 2.0% Investment Income-related Party—0.0%—0.0%—0.0% 26 0.0% 52 0.0% Other Income (Expenses) 504 0. 6% 861 0.9% (203) -0.2% 79 0.1% 36 0.0% Other Income (Expenses)-related Party—0.0%—0.0%—0.0% 577 0.6%—0.0% Total Other Income (Expenses) 568 0.6% 762 0.8% 969 1.0% 2,731 2.7% 2,181 2.1% Profit (Loss) Before Taxes 17,665 19.6% 22,769 23.3% 15,759 16.0% 19,266 18.7% 13,780 13.2% Minority Interest 3,466 3.9% 4,794 4.9% 2,751 2.8% 3,530 3.4% 2,339 2.2% Income Tax Expense (Benefit) 3,992 4.4% 5,534 5.7% 3,632 3.7% 5,169 5.0% 3,017 2.9% Net Income (Loss) $ 10,208 11.4% $ 12,441 12.7% $ 9,376 9.5% $ 10,567 10.3% $ 8,424 8.1% EBITDA Calculation Operating Profit (EBIT) 17,098 19.0% 22,007 22.6% 14,789 15.0% 16,535 16.1% 11,599 11.1% Add: Depreciation 3,697 4.1% 4,114 4.2% 4,149 4.2% 4,227 4.1% 3,911 3.7% Add: Amortization 385 0.4% 422 0.4% 392 0.4% 369 0.4% 578 0.6% EBITDA $ 21,179 23.6% $ 26,542 27.2% $ 19,329 19.6% $ 21,132 20.5% $ 16,088 15.4% Additional Data Distributions to Holders of Minority Interest $ 6,570 4.9% $ 5,822 4.0% $ 5,776 3.8% $ 5,630 3.6% $ 5,306 3.3% Capital Expenditures $ 3,533 3.9% $ 4,545 4.7% $ 4,218 4.3% $ 790 0.8% $ 3,560 3.4% Notes: Financials for 2021 through 2024 are sourced from the Company’s audited financial statements, while 2025 financials are based on the Company’s internal statements.

Exhibit 5 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Financial Ratio Analysis Valuation as of July 7, 2025 Fiscal Year End as of June 30, FYE FYE 2021 2022 2023 2024 2025 Average Median Short-Term Liquidity Measures Current Ratio 5.4 7.1 8.0 7.9 8.5 7.4 7.9 Quick Ratio 5.3 6.9 7.8 7.6 8.1 7.1 7.6 Activity Ratios Accounts Receivable Turnover 1.5 1.5 1.4 1.3 1.3 1.4 1.4 Accounts Collection Period (Days) 248.4 248.6 259.6 283.3 290.1 266.0 259.6 Inventory Turnover 27.9 21.4 20.6 21.3 20.5 22.3 21.3 Inventory Holding Period (Days) 13.1 17.0 17.7 17.2 17.8 16.6 17.2 Fixed Asset Turnover Ratio 4.1 4.4 4.5 5.5 5.6 4.8 4.5 Total Asset Turnover Ratio 0.5 0.5 0.5 0.5 0.5 0.5 0.5 Working Capital Measures Sales-to-Working Capital 1.0 1.0 0.9 0.8 0.8 0.9 0.9 Working Capital / Sales (%) 98.4% 104.5% 111.5% 119.0% 122.4% 111.2% 111.5% Debt-Free Working Capital / Sales (%) 98.9% 104.7% 111.8% 119.3% 122.6% 111.5% 111.8% Debt-Free, Cash-Free Working Capital / Sales (%) 49.4% 54.8% 59.8% 64.4% 68.5% 59.4% 59.8% Leverage Ratios Total Debt-to-Total Capital 1.6% 0.8% 0.7% 0.5% 0.2% 0.8% 0.7% Equity-to-Total Capital 98.4% 99.2% 99.3% 99.5% 99.8% 99.2% 99.3% Total Liabilities-to-Total Assets 28.6% 26.6% 24.8% 26.8% 26.2% 26.6% 26.6% Equity-to-Total Assets 71.4% 73.4% 75.2% 73.2% 73.8% 73.4% 73.4% Fixed Assets-to-Equity 0.2 0.2 0.1 0.1 0.1 0.1 0.1 EBITDA / Interest Expense 85.2 76.6 385.8 274.4 628.2 290.0 274.4 Return Measurements Return on Equity (ROE) 7.5% 8.5% 6.2% 6.7% 5.3% 6.9% 6.7% Return on Investment (ROI) 7.6% 8.7% 6.2% 6.8% 5.3% 6.9% 6.8% Return on Total Assets (ROA) 5.5% 6.4% 4.7% 5.0% 3.9% 5.1% 5.0% Asset Utilization Ratios Sales-to-Cash 2.0 2.0 1.9 1.8 1.8 1.9 1.9 Sales-to-Accounts Receivable 1.5 1.5 1.4 1.3 1.3 1.4 1.4 Sales-to-Inventory 54.1 41.4 38.4 37.9 37.1 41.8 38.4 Growth Over Prior Year Total Revenue (%) 4.9% 8.5% 1.1% 4.3% 1.4% 4.1% 4.3% EBITDA (%) 20.6% 25.3% -27.2% 9.3% -23.9% 0.8% 9.3% EBIT (%) 25.2% 28.7% -32.8% 11.8% -29.9% 0.6% 11.8% Notes: Calculated based on data presented in Exhibit 3 and Exhibit 4.

Exhibit 6 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Discounted Cash Flow Analysis Valuation as of July 7, 2025 (in $ Thousands) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal (1) Net Revenue $ 106,438 $ 108,567 $ 110,738 $ 112,953 $ 115,212 $ 117,517 $ 119,867 $ 122,264 $ 124,709 $ 127,204 $ 129,748 % Growth 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% (1) Cost of Goods Sold 58,541 59,712 60,906 62,124 63,367 64,634 65,927 67,245 68,590 69,962 71,361 % of Net Revenue 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% 55.0% Gross Profit 47,897 48,855 49,832 50,829 51,846 52,882 53,940 55,019 56,119 57,242 58,386 % of Net Revenue 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% 45.0% (1) Total Operating Expenses (Excl. D&A) 31,718 31,190 30,617 31,593 32,585 32,122 33,180 34,258 34,359 35,481 36,191 % of Net Revenue 29.8% 28.7% 27.6% 28.0% 28.3% 27.3% 27.7% 28.0% 27.6% 27.9% 27.9% EBITDA 16,180 17,666 19,216 19,236 19,261 20,761 20,761 20,761 21,761 21,761 22,196 % of Net Revenue 15.2% 16.3% 17.4% 17.0% 16.7% 17.7% 17.3% 17.0% 17.4% 17.1% 17.1% (2) Depreciation 3,982 5,878 5,921 5,965 6,011 4,204 2,397 2,445 2,494 2,544 2,595 EBIT 12,198 11,788 13,294 13,270 13,250 16,557 18,363 18,315 19,266 19,216 19,601 % of Net Revenue 11.5% 10.9% 12.0% 11.7% 11.5% 14.1% 15.3% 15.0% 15.4% 15.1% 15.1% (3) Income Tax Expense (@ 27.0%) 3,293 3,183 3,589 3,583 3,577 4,470 4,958 4,945 5,202 5,188 5,292 Debt-Free Net Income 8,904 8,605 9,705 9,687 9,672 12,087 13,405 13,370 14,064 14,028 14,309 (2) Add: Depreciation 3,982 5,878 5,921 5,965 6,011 4,204 2,397 2,445 2,494 2,544 2,595 (2) Less: Capital Expenditures (2,129) (2,171) (2,215) (2,259) (2,304) (2,350) (2,397) (2,445) (2,494) (2,544) (2,595) (4) Less: Decrease / (Increase) in Working Capital (1,421) (1,458) (1,487) (1,517) (1,547) (1,578) (1,610) (1,642) (1,675) (1,708) (1,742) Net Cash Flow $ 9,337 $ 10,853 $ 11,924 $ 11,877 $ 11,832 $ 12,362 $ 11,795 $ 11,728 $ 12,390 $ 12,320 $ 12,566 Discount Period (Mid-Year Convention) 0.50 1.50 2.50 3.50 4.50 5.50 6.50 7.50 8.50 9.50 (5) Present Value Factor (@ 15.5%) 0.9305 0.8056 0.6975 0.6039 0.5229 0.4527 0.3919 0.3393 0.2938 0.2544 Present Value of Cash Flow $ 8,687 $ 8,744 $ 8,317 $ 7,172 $ 6,186 $ 5,596 $ 4,623 $ 3,980 $ 3,640 $ 3,134 Terminal Value Present Value of Cash Flows $ 60,079 Terminal Year Cash Flow $ 12,566 Present Value of Terminal Value $ 23,678 (10) Divided by: Capitalization Rate 13.5% Present Value of Total Cash Flows $ 83,757 Terminal Year Value $ 93,082 (6) Add: Present Value of Tax Amortization Benefit 570 Multiplied by: Present Value Factor 0.2544 Enterprise Value (Control) $ 84,327 Present Value of Terminal Value $ 23,678 (7) Add: Cash & Cash Equivalents 56,334 Implied Revenue Exit Multiple 0.7x (8) Less: American Transit Insurance Company—Reserve (2,349) Implied EBITDA Exit Multiple 4.2x (7) Less: Total Interest Bearing Debt—Fair Market Value of Total Equity (Control) $ 138,311 (9) Less: Minority Interest (@ 29.37%) $ (40,622) Fair Market Value of Common Equity—Control (Rounded) $ 97,700 Notes: (1) Per Management, revenue growth over the forecast period was expected to be nominal, with the long-term growth rate in the terminal year based on long-term real GDP growth from BVR Economic Outlook. Gross margin was based on the Company’s most recent historical levels and held flat over the forecast period. EBITDA was based on Management’s estimate using the free cash flow as a proxy for EBITDA, which closely approximates EBITDA. (2) Capex forecast of 2.0% of revenue is based on the Company’s expected capex needs and was based on reviewing both the Company’s historical capex levels and the GPCs. Depreciation reflects 5 SLD for existing assets and 100% bonus depreciation for new capex per the OBBBA. (3) Based on the effective federal and NY state tax rate. (4) DFCFWC was projected at 68.0% of revenue, based on the the Compnay’s most recent year end DFCFWC level. (5) See Exhibit 10. (6) See Exhibit 7. (7) Balance Sheet balance as of 6/30/2025. (8) The Company established a reserve against accounts receivables from American Transit Insurance (ATI) due to their ongoing financial difficulties. ATI reserve balance is as of 3/31/2025. (9) FONAR’s wholly-owned subsidiary, Health Management Corporation of America (“HMCA”), has the controlling interest in Health Diagnostics Management, LLC (“HDM”). Presently, FONAR (through HMCA) owns a 70.63% controlling interest in HDM, with the remaining 29.37% held by minority investors. (10) Calculated as WACC—LTGR, where WACC = 15.50% and LTGR = 2.00% based on projected consumer price inflation, economic indicators and industry growth.

Exhibit 7 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Tax Amortization Benefit (TAB) Valuation as of July 7, 2025 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 (1) Total Amortization Expense 578 578 578 578 578 102 (2) Tax Amortization Benefit (@ 27.0%) 156 156 156 156 156 28 Discount Period (Mid-Year Convention) 0.50 1.50 2.50 3.50 4.50 5.50 (3) Present Value Factor (@ 15.5%) 0.9305 0.8056 0.6975 0.6039 0.5229 0.4527 Present Value of Tax Amortization Benefit $ 145 $ 126 $ 109 $ 94 $ 82 $ 12 Present Value of Tax Amortization Benefit (Rounded) $ 570 Notes: (1) Estimated based on the Company’s FY 2025 amortization expenses. (2) Based on the effective federal and state tax rate. (3) See Exhibit 10.

Exhibit 8 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Working Capital Analysis Valuation as of July 7, 2025 (in $ Thousands) Historical—Fiscal Year End June 30, Forecasted 2020 2021 2022 2023 2024 2025 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal (1) Net Revenue $ 85,690 $ 89,930 $ 97,592 $ 98,645 $ 102,884 $ 104,351 $ 106,438 $ 108,567 $ 110,738 $ 112,953 $ 115,212 $ 117,517 $ 119,867 $ 122,264 $ 124,709 $ 127,204 $ 129,748 % Growth NA 4.9% 8.5% 1.1% 4.3% 1.4% 3.5% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% (2) Debt-Free, Cash-Free Working Capital (DFCFWC) 40,575 44,417 53,432 58,985 66,263 71,481 72,902 74,360 75,847 77,364 78,911 80,489 82,099 83,741 85,416 87,124 88,867 % of Net Revenue 47.4% 49.4% 54.8% 59.8% 64.4% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% 68.5% (3) Change in DFCFWC NA $ (3,842) $ (9,015) $ (5,553) $ (7,277) $ (5,218) $ (1,421) $ (1,458) $ (1,487) $ (1,517) $ (1,547) $ (1,578) $ (1,610) $ (1,642) $ (1,675) $ (1,708) $ (1,742) Notes: (1) See Exhibit 4 and Exhibit 6. (2) See Exhibit 3. (3) Projected DFCFWC was based on the Company’s most recent year end indication.

Exhibit 9 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Depreciation and Capital Expenditures Analysis Valuation as of July 7, 2025 (in $ Thousands) Historical—Fiscal Year End June 30, Forecasted 2020 2021 2022 2023 2024 2025 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 (1) Net Revenue $ 85,690 $ 89,930 $ 97,592 $ 98,645 $ 102,884 $ 104,351 $ 106,438 $ 108,567 $ 110,738 $ 112,953 $ 115,212 $ 117,517 $ 119,867 $ 122,264 $ 124,709 $ 127,204 (2) Capital Expenditures 7,523 3,533 4,545 4,218 790 3,560 2,129 2,171 2,215 2,259 2,304 2,350 2,397 2,445 2,494 2,544 % of Net Revenue 8.8% 3.9% 4.7% 4.3% 0.8% 3.4% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% (3) Depreciation on Existing PP&E 1,853 3,706 3,706 3,706 3,706 1,853 — —(4) Depreciation on Capital Expenditures—Bonus 2,129 2,171 2,215 2,259 2,304 2,350 2,397 2,445 2,494 2,544 Total Depreciation $ 3,145 $ 3,697 $ 4,114 $ 4,149 $ 4,227 $ 3,911 $ 3,982 $ 5,878 $ 5,921 $ 5,965 $ 6,011 $ 4,204 $ 2,397 $ 2,445 $ 2,494 $ 2,544 % of Net Revenue 3.7% 4.1% 4.2% 4.2% 4.1% 3.7% 3.7% 5.4% 5.3% 5.3% 5.2% 3.6% 2.0% 2.0% 2.0% 2.0% Notes: (1) See Exhibit 4 and Exhibit 6. (2) See Exhibit 4 and Exhibit 6. (3) Depreciation reflects 5 SLD for existing assets. (4) 100% bonus depreciation for new capex per the OBBBA.

Exhibit 10 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee WACC—Capital Asset Pricing Model Valuation as of July 7, 2025 (in $ Millions) Book Value Observed Adjusted Effective / Unlevered Relevered S&P Book Value of Preferred Market Value Market Value Debt-to- Equity-to- Levered Levered Marginal Equity Equity Guideline Public Company Name Ticker Credit Rating of Debt (1) Equity (1) NCI Equity (2) Total Capital Capital Capital Equity Beta (3) Equity Beta (4) Tax Rate (5) Beta (6) Beta (7) * FONAR Corporation FONR NA 0—(12) 97 86 0.5% 99.5% 0.48 0.68 23.0% 0.67 0.76 Ardent Health, Inc. ARDT B+ 1,113—389 1,902 3,405 32.7% 67.3% 0.38 0.61 14.9% 0.43 0.49 Astrana Health, Inc. ASTH NA 417—(228) 1,206 1,396 29.9% 70.1% 1.18 1.12 38.2% 0.88 1.00 Bruker Corporation BRKR NA 2,133—34 6,254 8,421 25.3% 74.7% 1.05 1.04 28.5% 0.84 0.94 Community Health Systems, Inc. CYH CCC+ 11,332—594 445 12,371 91.6% 8.4% 1.82 1.53 48.7% 0.23 0.26 HCA Healthcare, Inc. HCA BBB- 44,576—3,081 91,173 138,830 32.1% 67.9% 0.93 0.96 21.0% 0.70 0.79 Hologic, Inc. HOLX BBB- 2,531 — 14,345 16,876 15.0% 85.0% 0.40 0.63 19.4% 0.55 0.62 Nutex Health Inc. NUTX NA 309—78 698 1,085 28.5% 71.5% 2.11 1.71 0.6% 1.23 1.39 RadNet, Inc. RDNT B+ 1,010—238 4,146 5,395 18.7% 81.3% 1.26 1.17 21.8% 0.99 1.12 Tenet Healthcare Corporation THC BB- 13,170—4,472 16,077 33,719 39.1% 60.9% 1.38 1.25 22.2% 0.83 0.94 Average 34.8% 65.2% 1.17 1.11 23.9% 0.74 0.84 Median 29.9% 70.1% 1.18 1.12 21.8% 0.83 0.94 Selected 15.0% 85.0% 0.94 Source: *Excluded from the average and median calculations. Risk-Free Rate 4.93% 20-year U.S. Treasury as of the Valuation Date. Source: Federal Reserve Statistical Release Equity Risk Premium 6.26% Kroll’ Long-Horizon Expected Equity Risk Premium (supply side) from 1926-2024 Relevered Equity Beta 0.94 Based on the selected GPCs’ relevered equity beta. Cost of Equity Capital 10.81% Cost of Equity Capital = Risk-Free Rate + [Equity Beta x Equity Risk Premium] Unsystematic Risk Factors: Size Premium 2.66% Source: Kroll Cost of Capital Navigator—Micro Cap Company-Specific Risk Premium 4.00% Forecast risk given the Company’s revenue concentration in personal injury-related imaging, potential elimination of Florida’s PIP laws (regulatory risk), and credit risk exposure from American Transit. Cost of Equity Capital 17.47% Corporate Pre-Tax Cost of Debt Capital 6.45% Based on S&P BBB rated bond yields as of the Valuation ate. Tax Rate 27.00% Based on the effective federal and NY state tax rate After-Tax Cost of Debt 4.71% Debt-to-Capital 15.00% Based on reviewing the GPCs and FONAR’s debt-to-capital ratio. Equity-to-Capital 85.00% Based on reviewing the GPCs and FONAR’s debt-to-capital ratio. Weighted Average Cost of Capital 15.56% WACC = [(Debt-to-Capital x Cost of Debt x (1—Tax Rate)] + [Equity-to-Capital x Cost of Equity Capital] Weighted Average Cost of Capital (Rounde 15.50% Notes: Source: Capital IQ. (1) Book value of debt, less capitalized leases, used as an approximation of market value. For purposes of calculating capital structure, preferred equity, if any, was added to debt at book value. (2) Represents stock price times common shares outstanding. (3) 5-year monthly beta calculated from the S&P 500 Index for the GPCs with more than 5 years of trading history. Two-year weekly beta calculated from the S&P 500 Index for the GPCs with less than 5 years of trading history. (4) Marshall Blume Adjustment = (Observed Beta * 0.635) + (0.371) (5) Based on the GPC’s 5-year median historical effective/marginal tax rate if available. (6) Unlevered Equity Beta = Adjusted Levered Equity Beta / [1 + (1—Effective or Marginal Tax Rate) x GPC’s Debt-to-Equity] (7) Levered Equity Beta = Unlevered Equity Beta x [1 + (1—Tax Rate) x Selected Debt-to-Equity]

Exhibit 11 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—BS & IS Analysis Valuation as of July 7, 2025 Company Ticker ARDT ASTH BRKR CYH HCA HOLX NUTX RDNT THC Average Median FONAR (1) LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM FYE Financial Periods Ended 6/30/25 3/31/25 6/30/25 6/30/25 6/30/25 6/28/25 3/31/25 3/31/25 6/30/25 6/30/25 Balance Sheet Comparison Cash & Short Term Investments 10.3% 19.6% 3.3% 3.1% 2.0% 19.0% 11.1% 21.5% 10.3% 11.1% 10.3% 26.0% Receivables, Net 16.9% 24.7% 11.8% 16.7% 18.5% 7.5% 39.3% 7.0% 13.0% 17.3% 16.7% 38.2% Inventory 2.5% 0.0% 18.8% 2.4% 3.0% 8.4% 0.4% 0.0% 1.2% 4.1% 2.4% 1.3% Other Current Assets 6.3% 1.8% 1.7% 2.3% 3.7% 2.6% 1.9% 1.9% 2.6% 2.7% 2.3% 1.2% Total Current Assets 35.9% 46.1% 35.6% 24.5% 27.2% 37.6% 52.7% 30.4% 27.1% 35.2% 35.6% 66.7% Total Fixed Assets, Net 42.0% 3.6% 11.6% 38.6% 53.3% 6.5% 42.0% 41.2% 20.5% 28.8% 38.6% 8.5% Goodwill and Intangible Assets 19.4% 39.7% 41.0% 27.2% 17.1% 50.3% 3.8% 23.9% 41.7% 29.4% 27.2% 3.3% Total Other Assets 2.7% 10.7% 11.8% 9.6% 2.4% 5.7% 1.5% 4.5% 10.8% 6.6% 5.7% 21.4% Total Assets 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Short-Term Debt 0.4% 1.0% 0.6% 0.2% 5.9% 0.7% 3.8% 0.7% 0.3% 1.5% 0.7% 0.1% Accounts Payable 7.6% 1.1% 4.1% 7.0% 7.5% 2.4% 2.8% 11.0% 4.5% 5.3% 4.5% 0.6% Deferred Revenue 0.0% 0.1% 7.9% 0.0% 0.0% 2.5% 0.0% 0.1% 0.0% 1.2% 0.0% 2.4% Other Current Liabilities 9.0% 25.0% 10.0% 9.8% 9.4% 5.9% 16.6% 3.3% 10.4% 11.0% 9.8% 4.8% Total Current Liabilities 16.9% 27.1% 22.7% 17.1% 22.8% 11.6% 23.2% 15.1% 15.2% 19.1% 17.1% 7.9% Total Long-Term Debt 22.3% 30.4% 35.3% 81.4% 68.7% 28.9% 36.8% 29.5% 44.7% 42.0% 35.3% 0.1% Total Other Long-Term Liabilities 28.9% 3.6% 10.8% 11.1% 9.3% 5.4% 4.0% 21.2% 10.4% 11.7% 10.4% 18.2% Total Preferred Equity 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Total Stockholders’ Equity 31.9% 38.9% 31.2% -9.6% -0.7% 54.1% 36.1% 34.1% 29.6% 27.3% 31.9% 73.8% Total Liabilities & Equity 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Income Statement Comparison Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Total Cost of Goods Sold 42.7% 88.1% 50.1% 58.2% 59.1% 39.0% 48.0% 81.4% 59.6% 58.5% 58.2% 55.3% Gross Profit 57.3% 11.9% 49.9% 41.8% 40.9% 61.0% 52.0% 18.6% 40.4% 41.5% 41.8% 44.7% Total Operating Expenses 50.7% 8.3% 38.3% 35.0% 25.8% 37.3% 18.6% 14.2% 23.9% 28.0% 25.8% 33.6% EBIT 6.6% 3.7% 11.6% 6.8% 15.1% 23.7% 33.4% 4.5% 16.5% 13.5% 11.6% 11.1% Net Interest Expense -1.0% -0.9% -1.3% -6.9% -2.9% -0.7% -3.5% -4.9% -4.0% -2.9% -2.9% 2.0% Other Income (Expense) 0.7% 0.2% -5.6% -1.8% -0.2% -6.1% -2.3% 0.9% 1.8% -1.4% -0.2% 0.0% Income Tax Expense -1.1% -1.2% -2.3% -0.7% -2.7% -3.1% -5.2% -0.2% -2.8% -2.2% -2.3% -2.9% Extra. Items / Disc. Ops. / Minority Interest -1.5% -0.2% 0.0% -1.2% -1.3% 0.0% -11.7% -1.9% -4.4% -2.5% -1.3% 2.2% Net Income 3.7% 1.6% 2.3% -3.9% 8.1% 13.8% 10.8% -1.7% 7.1% 4.6% 3.7% 8.1% EBITDA 9.0% 5.0% 17.4% 9.9% 19.9% 31.1% 36.4% 12.0% 20.4% 17.9% 17.4% 15.4% Capital Expenditures 3.1% 0.5% 3.5% 2.8% 6.6% 3.4% 0.3% 9.6% 4.2% 3.8% 3.4% 3.4% Notes: Source: Capital IQ. (1) See Exhibit 3 and Exhibit 4.

Exhibit 12 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—Ratio Analysis Valuation as of July 7, 2025 Company Ticker ARDT ASTH BRKR CYH HCA HOLX NUTX RDNT THC Average Median FONAR (1) LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM FYE Financial Periods Ended 6/30/25 3/31/25 6/30/25 6/30/25 6/30/25 6/28/25 3/31/25 3/31/25 6/30/25 6/30/25 Short-Term Liquidity Measures Current Ratio 2.1 1.7 1.6 1.4 1.2 3.2 2.3 2.0 1.8 1.9 1.8 8.5 Quick Ratio 1.6 1.6 0.7 1.2 0.9 2.3 2.2 1.9 1.5 1.5 1.6 8.1 Activity Ratios Accounts Receivable Turnover 7.3 6.8 4.9 5.4 6.5 6.2 2.1 8.0 5.4 5.8 6.2 1.3 Accounts Collection Period (Days) 50.2 53.3 74.3 67.1 56.5 58.4 175.0 45.9 67.7 72.1 58.4 290.1 Inventory Turnover 21.4 NA 1.5 22.5 23.6 2.2 96.2 NA 35.6 29.0 22.5 20.5 Inventory Holding Period (Days) 17.1 NA 236.1 16.2 15.5 166.6 3.8 NA 10.3 66.5 16.2 17.8 Fixed Asset Turnover Ratio 2.9 47.3 5.0 2.4 2.2 7.2 2.0 1.4 3.4 8.2 2.9 5.6 Total Asset Turnover Ratio 1.2 1.7 0.6 0.9 1.2 0.5 0.8 0.6 0.7 0.9 0.8 0.5 Working Capital (“WC”) Measures Sales-to-Working Capital 6.5 8.9 4.5 12.2 27.2 1.8 2.8 3.7 5.9 8.2 5.9 0.8 Working Capital / Sales (%) 15.5% 11.2% 22.2% 8.2% 3.7% 55.1% 36.0% 27.3% 16.9% 21.8% 16.9% 122.4% Debt-Free WC / Sales (%) 15.8% 11.8% 23.3% 8.4% 8.6% 56.6% 40.6% 28.6% 17.3% 23.4% 17.3% 122.6% Debt-Free, Cash-Free WC / Sales (%) 7.5% 0.3% 18.0% 5.0% 7.1% 21.1% 27.1% -9.7% 2.7% 8.8% 7.1% 68.5% Leverage Ratios Total Debt-to-Total Capital 41.6% 44.6% 53.5% 113.3% 101.0% 35.4% 52.9% 47.1% 60.3% 61.1% 52.9% 0.2% Equity-to-Total Capital 40.7% 53.4% 46.5% -12.5% -1.0% 64.6% 44.6% 39.4% 39.7% 35.0% 40.7% 99.8% Total Liabilities-to-Total Assets 68.1% 61.1% 68.8% 109.6% 100.7% 45.9% 63.9% 65.9% 70.4% 72.7% 68.1% 26.2% Equity-to-Total Assets 31.9% 38.9% 31.2% -9.6% -0.7% 54.1% 36.1% 34.1% 29.6% 27.3% 31.9% 73.8% Fixed Assets-to-Equity 1.3 0.1 0.4 -4.0 -72.8 0.1 1.2 1.2 0.7 -8.0 0.4 0.1 EBITDA / Interest Expense 9.0 3.4 10.7 1.4 6.8 10.1 10.5 2.4 5.2 6.6 6.8 628.2 Return Measurements Return on Equity (ROE) 14.4% 6.8% 4.3% 36.7% -1319.4% 12.1% 24.4% -2.8% 16.8% -134.1% 12.1% 5.3% Return on Investment (ROI) 7.4% 7.0% 3.4% 3.6% 17.1% 9.5% 14.4% 2.1% 10.4% 8.3% 7.4% 5.3% Return on Total Assets (ROA) 5.8% 5.1% 2.3% 2.8% 13.2% 8.0% 11.7% 1.8% 7.8% 6.5% 5.8% 3.9% Asset Utilization Ratios Sales-to-Cash 12.2 8.7 18.7 29.4 67.5 2.8 7.4 2.6 6.8 17.3 8.7 1.8 Sales-to-Accounts Receivable 7.3 6.8 4.9 5.4 6.5 6.2 2.1 8.0 5.4 5.8 6.2 1.3 Sales-to-Inventory 50.1 NA 3.1 38.6 39.9 5.6 200.2 NA 59.7 56.7 39.9 37.1 Growth Over Prior Year Total Revenue (%) 8.9% 54.8% 14.8% 1.0% 7.3% 1.7% 141.3% 12.8% -1.8% 26.8% 8.9% 1.4% EBITDA (%) 40.9% 1.2% 5.4% -6.5% 10.5% 5.2% 913.3% -2.8% 9.5% 108.5% 5.4% -23.9% EBIT (%) 62.3% -10.6% -10.0% -8.1% 11.2% 8.7% 4652.6% -17.8% 13.8% 522.5% 8.7% -29.9% CAGR (3-Year) Total Revenue (%) NA 37.7% 11.9% 0.5% 6.2% -9.3% 23.0% 11.6% 1.8% 10.4% 8.9% 2.3% EBITDA (%) NA -3.0% 4.6% -9.1% 4.6% -20.3% 10.7% 6.0% 6.5% 0.0% 4.6% -15.4% EBIT (%) NA -7.8% -2.8% -11.7% 4.3% -22.3% 8.6% -1.5% 8.7% -3.1% -2.2% -19.2% Notes: Source: Capital IQ. (1) See Exhibit 4 and Exhibit 5.

Exhibit 13 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—Trend Analysis Valuation as of July 7, 2025 (in $ Millions, except per share data) Page 1 of 5 Historical Revenue Growth Forecasted Revenue Growth (1) Guideline Public Company Name CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 Ardent Health, Inc. 17.0% 5.3% 5.5% 10.3% 6.1% 5.5% 5.3% 7.1% NM Astrana Health, Inc. 12.6% 47.8% 21.2% 46.7% 56.0% 27.1% 9.6% 5.5% 7.8% Bruker Corporation 21.7% 4.7% 17.1% 13.6% 4.5% 4.2% 5.7% 7.3% 1.4% Community Health Systems, Inc. 4.9% -1.3% 2.3% 1.2% -2.1% 3.3% 4.0% NM NM HCA Healthcare, Inc. 14.0% 2.5% 7.9% 8.7% 5.8% 5.0% 5.2% 7.1% 5.2% Hologic, Inc. 21.1% -18.7% -11.1% 1.8% 1.9% 5.2% 5.6% 6.3% NM Nutex Health Inc. 21.0% -33.9% 12.9% 93.8% 54.9% 4.3% NM NM NM RadNet, Inc. 20.6% 8.0% 13.0% 13.2% 7.2% 8.0% NM NM NM Tenet Healthcare Corporation 10.5% -1.6% 7.2% 0.6% 1.2% 4.9% 5.3% 0.6% 3.8% Min 4.9% -33.9% -11.1% 0.6% -2.1% 3.3% 4.0% 0.6% 1.4% 25th Percentile 12.6% -1.6% 5.5% 1.8% 1.9% 4.3% 5.3% 5.7% 3.2% Median 17.0% 2.5% 7.9% 10.3% 5.8% 5.0% 5.3% 6.7% 4.5% Average 15.9% 1.4% 8.4% 21.1% 15.1% 7.5% 5.8% 5.6% 4.6% 75th Percentile 21.0% 5.3% 13.0% 13.6% 7.2% 5.5% 5.6% 7.1% 5.8% Max 21.7% 47.8% 21.2% 93.8% 56.0% 27.1% 9.6% 7.3% 7.8% (2) FONAR 8.5% 1.1% 4.3% 1.4% 2.0% 2.0% 2.0% 2.0% 2.0% Notes: Revenue Growth Trend 25.0% (1) Source: Capital IQ. (2) See Exhibit 4 and Exhibit 6. 20.0% 15.0% 10.0% 5.0% 0.0% CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 -5.0% 25th Percentile Median 75th Percentile FONAR

Exhibit 13 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Com Guideline Public Company—Trend Analysis Valuation as of July 7, 2025 (in $ Millions, except per share data) Page 2 of 5 Historical EBITDA Growth Forecasted EBITDA Growth (1) Guideline Public Company Name CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 Ardent Health, Inc. 56.0% -23.2% 5.4% 54.8% 8.0% 7.4% 7.4% NM NM Astrana Health, Inc. 17.0% 5.3% -16.0% 14.6% 85.3% 34.7% 17.0% 10.6% 12.9% Bruker Corporation 48.7% 6.6% 10.2% -1.6% 6.0% 8.8% 11.9% 8.1% NM Community Health Systems, Inc. 69.6% -31.7% 10.9% -3.6% 21.2% 3.6% 1.7% NM NM HCA Healthcare, Inc. 25.5% -4.1% 5.7% 9.1% 7.0% 4.6% 5.6% 6.4% 5.2% Hologic, Inc. 16.9% -36.5% -28.2% 5.9% 5.2% 6.2% 5.4% 5.1% NM Nutex Health Inc. 14.3% -95.2% 90.6% 861.2% 52.6% 9.7% NM NM NM RadNet, Inc. 52.0% -17.5% 36.0% 11.1% 14.3% 17.2% NM NM NM Tenet Healthcare Corporation 40.8% -2.7% 10.2% 10.1% 3.0% 5.0% 6.1% 2.4% 5.0% Min 14.3% -95.2% -28.2% -3.6% 3.0% 3.6% 1.7% 2.4% 5.0% 25th Percentile 17.0% -31.7% 5.4% 5.9% 6.0% 5.0% 5.5% 5.1% 5.1% Median 40.8% -17.5% 10.2% 10.1% 8.0% 7.4% 6.1% 6.4% 5.2% Average 37.9% -22.1% 13.9% 106.8% 22.5% 10.8% 7.9% 6.5% 7.7% 75th Percentile 52.0% -2.7% 10.9% 14.6% 21.2% 9.7% 9.6% 8.1% 9.1% Max 69.6% 6.6% 90.6% 861.2% 85.3% 34.7% 17.0% 10.6% 12.9% (2) FONAR 25.3% -27.2% 9.3% -23.9% 0.6% 9.2% 8.8% 0.1% 0.1% EBITDA Growth Trend Notes: (1) Source: Capital IQ. 60.0% (2) See Exhibit 4 and Exhibit 6. 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 -10.0% -20.0% -30.0% -40.0% 25th Percentile Median 75th Percentile FONAR

Exhibit 13 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Com Guideline Public Company—Trend Analysis Valuation as of July 7, 2025 (in $ Millions, except per share data) Page 3 of 5 Historical EBITDA Margin Forecasted EBITDA Margin (1) Guideline Public Company Name CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 Ardent Health, Inc. 9.0% 6.6% 6.6% 9.3% 9.4% 9.6% 9.8% NA NA Astrana Health, Inc. 14.9% 10.6% 7.4% 5.8% 6.8% 7.3% 7.7% 8.1% 8.5% Bruker Corporation 21.3% 21.7% 20.4% 17.6% 17.9% 18.7% 19.8% 19.9% NA Community Health Systems, Inc. 13.8% 9.6% 10.4% 9.9% 12.2% 12.3% 12.0% NA NA HCA Healthcare, Inc. 21.3% 20.0% 19.6% 19.6% 19.8% 19.8% 19.8% 19.7% 19.7% Hologic, Inc. 48.3% 37.7% 30.4% 31.7% 32.7% 33.0% 33.0% 32.6% NA Nutex Health Inc. 54.0% 3.9% 6.6% 32.6% 32.2% 33.8% NA NA NA RadNet, Inc. 15.2% 11.6% 13.9% 13.7% 14.6% 15.8% NA NA NA Tenet Healthcare Corporation 17.5% 17.3% 17.8% 19.5% 19.9% 19.9% 20.0% 20.4% 20.6% Min 9.0% 3.9% 6.6% 5.8% 6.8% 7.3% 7.7% 8.1% 8.5% 25th Percentile 14.9% 9.6% 7.4% 9.9% 12.2% 12.3% 10.9% 19.7% 14.1% Median 17.5% 11.6% 13.9% 17.6% 17.9% 18.7% 19.8% 19.9% 19.7% Average 23.9% 15.4% 14.8% 17.7% 18.4% 18.9% 17.4% 20.1% 16.3% 75th Percentile 21.3% 20.0% 19.6% 19.6% 19.9% 19.9% 19.9% 20.4% 20.2% Max 54.0% 37.7% 30.4% 32.6% 32.7% 33.8% 33.0% 32.6% 20.6% (2) FONAR 27.2% 19.6% 20.5% 15.4% 15.2% 16.3% 17.4% 17.0% 16.7% EBITDA Margin Trend Notes: (1) Source: Capital IQ. 30.0% (2) See Exhibit 4 and Exhibit 6. 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% CY-3 CY- 2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 25th Percentile Median 75th Percentile FONAR

Exhibit 13 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Com Guideline Public Company—Trend Analysis Valuation as of July 7, 2025 (in $ Millions, except per share data) Page 4 of 5 Historical Gross Margin Forecasted Gross Margin (1) Guideline Public Company Name CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 Ardent Health, Inc. 52.9% 53.0% 55.9% 57.5% NA NA NA NA NA Astrana Health, Inc. 23.0% 17.4% 15.5% 13.3% 11.6% 11.8% NA NA NA Bruker Corporation 50.2% 51.6% 51.2% 50.0% 51.4% 51.7% 52.2% 52.8% 53.3% Community Health Systems, Inc. 41.1% 40.2% 40.7% 41.7% NA NA NA NA NA HCA Healthcare, Inc. 38.3% 38.5% 39.4% 40.6% 39.5% 39.0% 39.1% 39.0% 39.0% Hologic, Inc. 70.8% 65.4% 60.4% 60.9% NA NA NA NA NA Nutex Health Inc. 56.4% 13.0% 21.1% 44.8% 50.7% 51.5% NA NA NA RadNet, Inc. 15.2% 11.6% 21.2% 20.3% 25.3% 25.6% NA NA NA Tenet Healthcare Corporation 37.3% 36.8% 38.0% 39.7% 51.5% 51.3% 51.5% 41.4% 41.6% Min 15.2% 11.6% 15.5% 13.3% 11.6% 11.8% 39.1% 39.0% 39.0% 25th Percentile 37.3% 17.4% 21.2% 39.7% 28.8% 28.9% 45.3% 40.2% 40.3% Median 41.1% 38.5% 39.4% 41.7% 45.1% 45.1% 51.5% 41.4% 41.6% Average 42.8% 36.4% 38.2% 41.0% 38.3% 38.5% 47.6% 44.4% 44.6% 75th Percentile 52.9% 51.6% 51.2% 50.0% 51.2% 51.5% 51.9% 47.1% 47.5% Max 70.8% 65.4% 60.4% 60.9% 51.5% 51.7% 52.2% 52.8% 53.3% (2) FONAR 48.2% 46.4% 43.9% 44.7% 45.0% 45.0% 45.0% 45.0% 45.0% Gross Margin Trend Notes: (1) Source: Capital IQ. 60.0% (2) See Exhibit 4 and Exhibit 6. 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% CY-3 CY- 2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 25th Percentile Median 75th Percentile FONAR

Exhibit 13 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Com Guideline Public Company—Trend Analysis Valuation as of July 7, 2025 (in $ Millions, except per share data) Page 5 of 5 Historical Capital Expenditure % of Revenue Forecasted Capital Expenditure % of Revenue (1) Guideline Public Company Name CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 Ardent Health, Inc. 2.9% 2.9% 2.5% 3.1% 3.6% 3.8% 4.0% 0.0% NA Astrana Health, Inc. 2.5% 2.0% 2.1% 0.4% 0.4% 0.3% 0.4% 0.4% 0.3% Bruker Corporation 3.8% 5.1% 3.6% 3.4% 2.8% 2.8% 2.9% 2.6% 0.0% Community Health Systems, Inc. 3.8% 3.4% 3.7% 2.8% 3.0% 3.0% 3.1% NA NA HCA Healthcare, Inc. 6.1% 7.3% 7.3% 6.9% 6.8% 6.7% 6.6% 6.3% 6.3% Hologic, Inc. 3.1% 2.7% 4.0% 3.1% 1.6% 2.0% 2.0% 0.0% NA Nutex Health Inc. 11.1% 6.7% 3.8% 0.5% 0.0% 0.0% NA NA NA RadNet, Inc. 10.4% 8.4% 10.9% 10.3% 8.3% 7.4% NA NA NA Tenet Healthcare Corporation 3.4% 4.0% 3.7% 4.5% 3.7% 3.6% 3.6% 3.5% 3.5% Min 2.5% 2.0% 2.1% 0.4% 0.0% 0.0% 0.4% 0.0% 0.0% 25th Percentile 3.1% 2.9% 3.6% 2.8% 1.6% 2.0% 2.5% 0.1% 0.3% Median 3.8% 4.0% 3.7% 3.1% 3.0% 3.0% 3.1% 1.5% 1.9% Average 5.2% 4.7% 4.6% 3.9% 3.3% 3.3% 3.2% 2.1% 2.5% 75th Percentile 6.1% 6.7% 4.0% 4.5% 3.7% 3.8% 3.8% 3.3% 4.2% Max 11.1% 8.4% 10.9% 10.3% 8.3% 7.4% 6.6% 6.3% 6.3% (2) FONAR 4.7% 4.3% 0.8% 3.4% 2.0% 2.0% 2.0% 2.0% 2.0% Capital Expenditure Margin Trend Notes: (1) Source: Capital IQ. 8.0% (2) See Exhibit 4 and Exhibit 6. 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% CY-3 CY-2 CY-1 CY CY+1 CY+2 CY+3 CY+4 CY+5 -1.0% 25th Percentile Median 75th Percentile FONAR

Exhibit 14 FONAR Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—Benchmarking Valuation as of July 7, 2025 (in $ Millions) Size Total Assets LTM Revenue Total Equity (Book) Rank Company Indication Rank Company Indication Rank Company Indication 1 HCA Healthcare, Inc. 59,798.0 1 HCA Healthcare, Inc. 71,585.0 1 Tenet Healthcare Corporation 8,653.0 2 Tenet Healthcare Corporation 29,237.0 2 Tenet Healthcare Corporation 20,520.0 2 Hologic, Inc. 4,618.7 3 Community Health Systems, Inc. 13,890.0 3 Community Health Systems, Inc. 12,653.0 3 Bruker Corporation 1,851.2 4 Hologic, Inc. 8,545.1 4 Ardent Health, Inc. 6,024.3 4 Ardent Health, Inc. 1,564.5 5 Bruker Corporation 5,933.1 5 Hologic, Inc. 4,026.5 5 RadNet, Inc. 1,136.5 6 Ardent Health, Inc. 4,911.3 6 Bruker Corporation 3,446.1 6 Astrana Health, Inc. 517.7 7 RadNet, Inc. 3,336.3 7 Astrana Health, Inc. 2,250.6 7 Nutex Health Inc. 274.9 8 Astrana Health, Inc. 1,331.3 8 RadNet, Inc. 1,869.4 8 FONAR 160.2 9 Nutex Health Inc. 761.9 9 Nutex Health Inc. 624.3 9 HCA Healthcare, Inc. (438.0) 10 FONAR 217.0 10 FONAR 104.4 10 Community Health Systems, Inc. (1,329.0) Median (excluding FONAR) 5,933.1 Median (excluding FONAR) 4,026.5 Median (excluding FONAR) 1,136.5 FONAR compared to GPCs: Smaller FONAR compared to GPCs: Smaller FONAR compared to GPCs: Slightly Smaller Revenue Growth 1-Year Historical Revenue Growth 1-Year Projected evenue Growth 2-Year Projected Revenue Growth (CAGR) Rank Company Indication Rank Company Indication Rank Company Indication 1 Nutex Health Inc. 93.8% 1 Astrana Health, Inc. 56.0% 1 Astrana Health, Inc. 40.8% 2 Astrana Health, Inc. 46.7% 2 Nutex Health Inc. 54.9% 2 Nutex Health Inc. 27.1% 3 Bruker Corporation 13.6% 3 RadNet, Inc. 7.2% 3 RadNet, Inc. 7.6% 4 RadNet, Inc. 13.2% 4 Ardent Health, Inc. 6.1% 4 Ardent Health, Inc. 5.8% 5 Ardent Health, Inc. 10.3% 5 HCA Healthcare, Inc. 5.8% 5 HCA Healthcare, Inc. 5.4% 6 HCA Healthcare, Inc. 8.7% 6 Bruker Corporation 4.5% 6 Bruker Corporation 4.3% 7 Hologic, Inc. 1.8% 7 FON 2.0% 7 Hologic, Inc. 3.5% 8 FONAR 1.4% 8 Hologic, Inc. 1.9% 8 Tenet Healthcare Corporation 3.1% 9 Community Health Systems, Inc. 1.2% 9 Tenet Healthcare Corporation 1.2% 9 FONAR 2.0% 10 Tenet Healthcare Corporation 0.6% 10 Community Health Systems, Inc. -2.1% 10 Community Health Systems, Inc. 0.6% Median (excluding FONAR) 10.3% Median (excluding FONAR) 5.8% Median (excluding FONAR) 5.4% FONAR compared to GPCs: Slightly Weaker FONAR compared to GPCs: Similar FONAR compared to GPCs: Slightly Weaker EBITDA Growth 1-Year Historical EBITDA Growth 1-Year Projected EBITDA Growth 2-Year Projected EBITDA Growth (CAGR) Rank Company Indication Rank Company Indication Rank Company Indication 1 Nutex Health Inc. 861.2% 1 Astrana Health, Inc. 85.3% 1 Astrana Health, Inc. 58.0% 2 Ardent Health, Inc. 54.8% 2 Nutex Health Inc. 52.6% 2 Nutex Health Inc. 29.4% 3 Astrana Health, Inc. 14.6% 3 Community Health Systems, Inc. 21.2% 3 RadNet, Inc. 15.8% 4 RadNet, Inc. 11.1% 4 RadNet, Inc. 14.3% 4 Community Health Systems, Inc. 12.1% 5 Tenet Healthcare Corporation 10.1% 5 Ardent Health, Inc. 8.0% 5 Ardent Health, Inc. 7.7% 6 HCA Healthcare, Inc. 9.1% 6 HCA Healthcare, Inc. 7.0% 6 Bruker Corporation 7.4% 7 Hologic, Inc. 5.9% 7 Bruker Corporation 6.0% 7 HCA Healthcare, Inc. 5.8% 8 Bruker Corporation -1.6% 8 Hologic, Inc. 5.2% 8 Hologic, Inc. 5.7% 9 Community Health Systems, Inc. -3.6% 9 Tenet Healthcare Corporation 3.0% 9 FONAR 4.8% 10 FONAR -23.9% 10 FONAR 0.6% 10 Tenet Healthcare Corporation 4.0% Median (excluding FONAR) 10.1% Median (excluding FONAR) 8.0% Median (excluding FONAR) 7.7% FONAR compared to GPCs: Weaker FONAR compared to GPCs: Weaker FONAR compared to GPCs: Slightly Weaker

Exhibit 14 FONAR Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—Benchmarking Valuation as of July 7, 2025 (in $ Millions) Profitability LTM EBITDA Margin CY+1 EBITDA Margin CY+2 EBITDA Margin Rank Company Indication Rank Company Indication Rank Company Indication 1 Nutex Health Inc. 36.4% 1 Hologic, Inc. 32.7% 1 Nutex Health Inc. 33.8% 2 Hologic, Inc. 31.1% 2 Nutex Health Inc. 32.2% 2 Hologic, Inc. 33.0% 3 Tenet Healthcare Corporation 20.4% 3 Tenet Healthcare Corporation 19.9% 3 Tenet Healthcare Corporation 19.9% 4 HCA Healthcare, Inc. 19.9% 4 HCA Healthcare, Inc. 19.8% 4 HCA Healthcare, Inc. 19.8% 5 Bruker Corporation 17.4% 5 Bruker Corporation 17.9% 5 Bruker Corporation 18.7% 6 FONAR 15.4% 6 FONAR 15.2% 6 FONAR 16.3% 7 RadNet, Inc. 12.0% 7 RadNet, Inc. 14.6% 7 RadNet, Inc. 15.8% 8 Community Health Systems, Inc. 9.9% 8 Community Health Systems, Inc. 12.2% 8 Community Health Systems, Inc. 12.3% 9 Ardent Health, Inc. 9.0% 9 Ardent Health, Inc. 9.4% 9 Ardent Health, Inc. 9.6% 10 Astrana Health, Inc. 5.0% 10 Astrana Health, Inc. 6.8% 10 Astrana Health, Inc. 7.3% Median (excluding FONAR) 17.4% Median (excluding FONAR) 17.9% Median (excluding FONAR) 18.7% FONAR compared to GPCs: Similar FONAR compared to GPCs: Similar FONAR compared to GPCs: Similar Liquidity & Leverage Liquidity: Current Ratio Leverage: Total ebt-to-Total Capital (Book) Leverage: LTM Interest Coverage (EBITDA / Interest Expense) Rank Company Indication Rank Company Indication Rank Company Indication 1 FONAR 8.5 1 FON 0.2% 1 FONAR 628.2 2 Hologic, Inc. 3.2 2 Hologic, Inc. 35.4% 2 Bruker Corporation 10.7 3 Nutex Health Inc. 2.3 3 Ardent Health, Inc. 41.6% 3 Nutex Health Inc. 10.5 4 Ardent Health, Inc. 2.1 4 Astrana Health, Inc. 44.6% 4 Hologic, Inc. 10.1 5 RadNet, Inc. 2.0 5 RadNet, Inc. 47.1% 5 Ardent Health, Inc. 9.0 6 Tenet Healthcare Corporation 1.8 6 Nutex Health Inc. 52.9% 6 HCA Healthcare, Inc. 6.8 7 Astrana Health, Inc. 1.7 7 Bruker Corporation 53.5% 7 Tenet Healthcare Corporation 5.2 8 Bruker Corporation 1.6 8 Tenet Healthcare Corporation 60.3% 8 Astrana Health, Inc. 3.4 9 Community Health Systems, Inc. 1.4 9 HCA Healthcare, Inc. 101.0% 9 RadNet, Inc. 2.4 10 HCA Healthcare, Inc. 1.2 10 Community Health Systems, Inc. 113.3% 10 Community Health Systems, Inc. 1.4 Median (excluding FONAR) 1.8 Median (excluding FONAR) 52.9% Median (excluding FONAR) 6.8 FONAR compared to GPCs: Stronger FONAR compared to GPCs: Stronger FONAR compared to GPCs: Stronger Notes: Companies with not meaningful or not available indications were excluded from the rankings. Source: Capital IQ. Screening Criteria: 1) Company Type: Public 2) Sector/Industry (Primary): “Health Care Facilities” + “Health Care Equipment” 3) Business Description (Keyword): “imaging” See Exhibit 3 to Exhibit 6 for FONAR indications.

Exhibit 15 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—Market and Financial Data Valuation as of July 7, 2025 (in $ Millions, except per share data) 52-Week 52-Week Average Daily Stock Price Shares Market Add: Add: Preferred Add: Minority Total Invested Less: Enterprise Guideline Public Company Name Ticker High Low Volume (as of 7/07/25) Outstanding Capitalization Total Debt Stock Interest Capital Cash Value FONAR Corporation FONR 18.68 12.00 0.02 15.46 6.3 97.3 0.5 0.0 (11.6) 86.2 54.4 31.8 Ardent Health, Inc. ARDT 20.72 11.31 0.38 13.30 143.0 1,902.5 1,112.9 0.0 389.3 3,404.7 503.6 2,901.1 Astrana Health, Inc. ASTH 63.20 23.12 0.30 24.15 49.0 1,205.8 417.4 0.0 (227.7) 1,395.6 260.9 1,134.6 Bruker Corporation BRKR 72.94 34.10 1.72 41.27 151.5 6,253.7 2,132.9 0.0 34.0 8,420.6 193.7 8,226.9 Community Health Systems, Inc. CYH 6.29 2.24 2.41 3.33 133.7 445.4 11,332.0 0.0 594.0 12,371.4 431.0 11,940.4 HCA Healthcare, Inc. HCA 417.14 289.98 1.46 378.98 243.0 91,172.7 44,576.0 0.0 3,081.0 138,829.7 1,167.0 137,662.7 Hologic, Inc. HOLX 84.67 51.90 2.38 64.37 222.8 14,344.5 2,531.0 0.0 0.0 16,875.5 1,625.7 15,249.8 Nutex Health Inc. NUTX 184.28 4.16 0.09 125.73 5.5 698.4 308.9 0.0 77.8 1,085.1 84.7 1,000.4 RadNet, Inc. RDNT 93.65 45.00 0.68 55.26 75.0 4,146.2 1,010.1 0.0 238.4 5,394.7 717.3 4,677.3 Tenet Healthcare Corporation THC 178.76 109.82 1.43 173.09 92.9 16,077.5 13,170.0 0.0 4,472.0 33,719.5 2,999.0 30,720.5 LFY LTM Revenue EBITDA Guideline Public Company Name Ticker Date Date LFY LTM CY+1 CY+2 CY+3 LFY LTM CY+1 CY+2 CY+3 FONAR Corporation FONR 6/30/2024 3/31/2025 102.9 103.0 NA NA NA 21.1 16.3 NA NA NA Ardent Health, Inc. ARDT 12/31/2024 6/30/2025 5,966.07 6,024.26 6,329.7 6,680.44 7,033.1 552.1 544.2 596.1 640.4 687.7 Astrana Health, Inc. ASTH 12/31/2024 3/31/2025 2,034.5 2,250.6 3,173.7 4,034.4 4,423.2 117.3 112.3 217.3 292.8 342.6 Bruker Corporation BRKR 12/31/2024 6/30/2025 3,366.40 3,446.10 3,516.3 3,665.47 3,873.7 594.1 598.6 629.6 685.3 766.8 Community Health Systems, Inc. CYH 12/31/2024 6/30/2025 12,634.0 12,653.0 12,374.8 12,785.8 13,296.7 1,249.0 1,251.0 1,514.3 1,569.3 1,595.5 HCA Healthcare, Inc. HCA 12/31/2024 6/30/2025 70,603.00 71,585.00 74,732.1 78,496.59 82,606.5 13,859.0 14,219.0 14,833.5 15,512.4 16,377.9 Hologic, Inc. HOLX 9/28/2024 6/28/2025 4,030.3 4,026.5 4,115.1 4,328.9 4,571.4 1,272.0 1,252.3 1,346.0 1,429.2 1,506.3 Nutex Health Inc. NUTX 12/31/2024 3/31/2025 479.95 624.28 743.3 775.15 NA 156.7 227.3 239.1 262.4 NA RadNet, Inc. RDNT 12/31/2024 3/31/2025 1,829.7 1,869.4 1,960.6 2,118.2 NA 250.4 224.2 286.3 335.5 NA Tenet Healthcare Corporation THC 12/31/2024 6/30/2025 20,665.00 20,520.00 20,916.4 21,947.12 23,115.0 4,036.0 4,195.0 4,156.7 4,362.9 4,627.4 Notes: Source: Capital IQ.

Exhibit 16 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Guideline Public Company—Multiple Analysis Valuation as of July 7, 2025 (in $ Millions, except per share data) Unadjusted Revenue Multiples Selected Size Size-Adjusted Revenue Multiples Guideline Public Company Name Ticker LTM CY+1 Discount/Premium LTM CY+1 * FONAR Corporation FONR 0.3x NA 0.0% 0.3x NA Ardent Health, Inc. ARDT 0.5x 0.5x -10.0% 0.4x 0.4x Astrana Health, Inc. ASTH 0.5x 0.4x -10.0% 0.5x 0.3x Bruker Corporation BRKR 2.4x 2.3x -18.0% 2.0x 1.9x Community Health Systems, Inc. CYH 0.9x 1.0x -1.0% 0.9x 1.0x HCA Healthcare, Inc. HCA 1.9x 1.8x -29.0% 1.4x 1.3x Hologic, Inc. HOLX 3.8x 3.7x -25.0% 2.8x 2.8x Nutex Health Inc. NUTX 1.6x 1.3x -7.0% 1.5x 1.3x RadNet, Inc. RDNT 2.5x 2.4x -16.0% 2.1x 2.0x Tenet Healthcare Corporation THC 1.5x 1.5x -16.0% 1.3x 1.2x 25th Percentile 0.9x 1.0x -18.0% 0.9x 1.0x Median 1.6x 1.5x -16.0% 1.4x 1.3x Average 1.7x 1.7x -14.7% 1.4x 1.4x Unadjusted EBITD Multiples Selected Size Size-Adjusted EBITDA Multiples Guideline Public Company Name Ticker LTM CY+1 Discount/Premium LTM CY+1 * FONAR Corporation FONR 1.9x NA 0.0% 1.9x NA Ardent Health, Inc. ARDT 5.3x 4.9x -10.0% 4.8x 4.4x Astrana Health, Inc. ASTH 10.1x 5.2x -10.0% 9.1x 4.7x Bruker Corporation BRKR 13.7x 13.1x -18.0% 11.3x 10.7x Community Health Systems, Inc. CYH 9.5x 7.9x -1.0% 9.4x 7.8x HCA Healthcare, Inc. HCA 9.7x 9.3x -29.0% 6.9x 6.6x Hologic, Inc. HOLX 12.2x 11.3x -25.0% 9.1x 8.5x Nutex Health Inc. NUTX 4.4x 4.2x -7.0% 4.1x 3.9x RadNet, Inc. RDNT 20.9x 16.3x -16.0% 17.5x 13.7x Tenet Healthcare Corporation THC 7.3x 7.4x -16.0% 6.2x 6.2x 25th Percentile 7.3x 5.2x -18.0% 6.2x 4.7x Median 9.7x 7.9x -16.0% 9.1x 6.6x Average 10.4x 8.8x -14.7% 8.7x 7.4x Notes: * Excluded from the 25th Percentile, median, and average calculation. Source: Capital IQ.

Exhibit 17 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Market Approach: Guideline Public Company Method Valuation as of July 7, 2025 (in $ Thousands) Enterprise Value / Revenue Enterprise Value / EBITDA FYE Projected FYE Projected 6/30/2025 Year 1 6/30/2025 Year 1 * FONAR Corporation 0.3x NA 1.9x NA Ardent Health, Inc. 0.4x 0.4x 4.8x 4.4x Astrana Health, Inc. 0.5x 0.3x 9.1x 4.7x Bruker Corporation 2.0x 1.9x 11.3x 10.7x Community Health Systems, Inc. 0.9x 1.0x 9.4x 7.8x HCA Healthcare, Inc. 1.4x 1.3x 6.9x 6.6x Hologic, Inc. 2.8x 2.8x 9.1x 8.5x Nutex Health Inc. 1.5x 1.3x 4.1x 3.9x RadNet, Inc. 2.1x 2.0x 17.5x 13.7x Tenet Healthcare Corporation 1.3x 1.2x 6.2x 6.2x 25th Percentile 0.9x 1.0x 6.2x 4.7x Median 1.4x 1.3x 9.1x 6.6x Average 1.4x 1.4x 8.7x 7.4x Revenue EBITDA FYE Projected FYE Projected Indicated Enterprise Value Calculation: 6/30/2025 Year 1 6/30/2025 Year 1 (2) FONAR—Revenue / EBITDA $ 104,351 $ 106,438 $ 16,088 $ 16,180 Selected Multiples - Low 0.9x 0.9x 6.0x 5.5x (3) Selected Multiples—Mid 1.0x 1.0x 6.5x 6.0x Selected Multiples—High 1.1x 1.1x 7.0x 6.5x (4) Weights 25.0% 25.0% 25.0% 25.0% Indicated Enterprise Value (Control) Weighted Enterprise Value—Low (Rounded) 93,800 93,916 95,795 $ 96,527 $ 88,988 Enterprise Value—Mid (Rounded) 103,100 104,351 106,438 $ 104,570 $ 97,077 Enterprise Value—High (Rounded) 112,400 114,786 117,082 $ 112,614 $ 105,167 Add / (Less): (5) Add: Cash & Cash Equivalents 56,334 (6) Less: American Transit Insurance Company—Reserve (2,349) (5) Less: Total Interest Bearing Debt—Equity Value (Conrol)—Low 147,784 Equity Value (Conrol)—Mid 157,084 Equity Value (Conrol)—High 166,384 (7) Less: Minority Interest (@ 29.37%)—Low (43,404) (7) Less: Minority Interest (@ 29.37%)—Mid (46,136) (7) Less: Minority Interest (@ 29.37%)—High (48,867) Fair Market Value of Common Equity—Control (Rounded) Weighted Fair Market Value of Common Equity—Low (Rounded) $ 104,400 Fair Market Value of Common Equity—Mid (Rounded) $ 110,900 Fair Market Value of Common Equity—High (Rounded) $ 117,500 Notes: * Excluded from the 25th Percentile, median, and average calculation. (1) See Exhibit 16. (2) See Exhibit 4 and Exhibit 6. (3) Selected multiples are based on comparative historical and projected performance of the Subject Company compared to that of GPCs’. See Exhibit 11 to Exhibit 14. (4) Equal weight was assigned to each metric to reflect both the Company’s most recent performance and near-term expectations. (5) Balance Sheet balance as of 6/30/2025. (6) The Company established a reserve against accounts receivables from American Transit Insurance (ATI) due to their ongoing financial difficulties. (7) FONAR’s wholly-owned subsidiary, Health Management Corporation of America (“HMCA”), has the controlling interest in Health Diagnostics Management, LLC (“HDM”). Presently, FONAR (through HMCA) owns a 70.63% controlling interest in HDM, with the remaining 29.37% held by minority investors.

Exhibit 18 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee One Day Stock Premium Market Transactions Valuation as of July 7, 2025 (in $ Millions) Equity Close Premium (1) Date Buyer Target 1 Day 10/29/2021 Bioventus Inc. Misonix, Inc. 19.1% 12/13/2021 Baxter International Inc. Hill-Rom Holdings, Inc. 7.5% 12/16/2021 Allergan plc Soliton, Inc. 25.6% 1/4/2022 Centene Corporation Magellan Health, Inc. 14.7% 3/29/2022 Byram Healthcare Centers, Inc. Apria, Inc. 26.2% 5/13/2022 Medtronic plc Intersect ENT, Inc. 15.2% 5/24/2022 Altaris, LLC IntriCon Corporation 39.2% 6/28/2022 Stone Point Capital LLC; Trident IX, L.P. Tivity Health, Inc. 0.8% 7/21/2022 ArchiMed SAS; MED Platform II Natus Medical Incorporated 28.6% 10/3/2022 Patient Square Capital, LP Hanger, Inc. 25.8% 10/13/2022 Clayton, Dubilier & Rice, LLC; TPG Capital, L.P.; Covetrus, Inc. 16.5% 1/4/2023 Orthofix Medical Inc. SeaSpine Holdings Corporation 37.5% 1/31/2023 SD Biosensor, Inc; SJL Partners Meridian Bioscience, Inc. 1.3% 2/22/2023 OptumHealth, Inc. LHC Group, Inc. 8.1% 4/27/2023 Abbott Laboratories Cardiovascular Systems, Inc. 47.3% 4/27/2023 Biosynex SA Chembio Diagnostics, Inc. 26.7% 5/1/2023 CVS Health Corporation Oak Street Health, Inc. 15.8% 9/1/2023 Globus Medical, Inc. NuVasive, Inc. 26.1% 5/31/2024 Johnson & Johnson Shockwave Medical, Inc. 4.7% 9/17/2024 Boston Scientific Corporation Silk Road Medical, Inc 26.9% 11/15/2024 Boston Scientific Corporation Axonics, Inc. 23.3% 4/3/2025 Globus Medical, Inc. Nevro Corp. 16.5% 4/17/2025 Patient Square Capital, LP Patterson Companies, Inc. 35.7% 4/21/2025 Zimmer Biomet Holdings, Inc. Paragon 28, Inc. 20.0% 5/1/2025 electroCore, Inc. NeuroMetrix, Inc. 15.1% 25th Percentile 15.1% Median 20.0% 75th Percentile 26.7% Notes: (1) Source: Capital IQ Screening Criteria: Industry Classifications (Target/Issuer): “Health Care Facilities” + “Health Care Equipment” (Primary) Transaction Types: Merger/Acquisition All Transactions Closed Date: [6/30/2021-7/7/2025] Percent Sought (%): is greater than 50 Geographic Locations (Target/Issuer): United States of America (Primary)

Exhibit 19 FONAR Corporation (NasdaqCM: FONR) Fairness Opinion Prepared for FONAR Special Committee Liquidation Scenario—Third Party Collection Valuation as of July 7, 2025 (1) A/R Balance @ Liquidation Date (A) $ 82,944 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 (2) Expected Collection % (B) 52.4% 19.4% 15.5% 7.5% 4.2% 1.0% Expected Collections, Gross (A * B) $ 43,426 $ 16,066 $ 12,889 $ 6,201 $ 3,518 $ 843 (3) Total Expenses(@ 5.0%) (2,171) (803) (644) (310) (176) (42) Collections less Expenses $ 41,255 $ 15,263 $ 12,245 $ 5,891 $ 3,342 $ 801 Add: MRI Asset Liquidation 5,000 — — -Less: Costs to Remove MRI Equipment (2,000) (2,000) (2,000) — -Liquidation Cash Flow $ 44,255 $ 13,263 $ 10,245 $ 5,891 $ 3,342 $ 801 Discount Period (Mid-Year Convention) 0.5 1.5 2.5 3.5 4.5 5.5 (4) Present Value Factor (@ 4.0%) 0.9806 0.9429 0.9066 0.8717 0.8382 0.8060 Present Value of Liquidation Cash Flow 43,396 12,505 9,288 5,135 2,801 646 Total Present Value of Liquidation Cash Flow $ 73,771 (5) Add: Cash & Cash Equivalents 56,334 (6) Less: American Transit Reserve (2,349) (5) Less: Total Interest Bearing Debt—Fair Market Value of Total Equity (Control) $ 127,755 Discount Rate Senstivity (7) Less: Minority Interest (@ 29.37%) (37,522) 4.0% 5.5% 7.0% Fair Market Value of Common Equity—Control (Rounded) $ 90,200 $ 90,200 $ 89,300 $ 88,300 Notes: (1) Balance based on A/R report dated 6/30/25. (2) Expected collection rates over a six-year period reflect historical recovery patterns for receivables originating from 2020–2023 (COVID Period). (3) Per Management, outsourcing all of the billing and collections to a third-party (Med-Metrix) at 5.0%. (4) 5-year U.S. Treasury as of the Valuation Date. Source: Federal Reserve Statistical Release. (5) Balance Sheet balance as of 6/30/2025. (6) The Company established a reserve against accounts receivables from American Transit Insurance (ATI) due to their ongoing financial difficulties. ATI reserve balance is as of 3/31/2025. (7) FONAR’s wholly-owned subsidiary, Health Management Corporation of America (“HMC ”), has the controlling interest in Health Diagnostics Management, LLC (“HDM”). Presently, FONAR (through HMCA) owns a 70.63% controlling interest in HDM, with the remaining 29.37% held by minority investors.