Raymond Damadian
Damadian is the company's largest shareholder, with 8% of stock worth $6.5 million. Despite owning only 8% of the stock, he maintains almost 100% control of the company through a separate class of shares (Class C) that only Damadian controls 2007. Damadian later collaborated with Wilson Greatbatch, one early developer of the implantable pacemaker, to develop an MRI-compatible pacemaker. He invented a stand-up MRI system and has 15 MRI scanning centers across the United States. There are a number of independent MRI centers that use this technology both in the U.S. and around the world. The company conceived and built the world's first Upright Multi-Positional MRI, which was recognized as The Invention of the Year in 2007 by the Intellectual Properties Owners Association Education Foundation.
Weber Research Institute
The Microwave Research Institute (MRI) was founded in 1945 by Ernst Weber at the Polytechnic Institute of Brooklyn (which later became the Polytechnic Institute of New York University). Research conducted at the institute included work in the areas of "electromagnetic theory, antennas and radiation, network theory and microwave networks, microwave components and devices." MRI was internationally regarded as one of the foremost centers of research on microwave field theory in the world. In 1985 it was renamed the Weber Research Institute in honor of its founder.Among its most prominent members were Nathan Marcuvitz, Leo B. Felsen, Dante C. Youla and Arthur A. Oliner, all fellows of IEEE and members of the National Academy of Engineering. The institute has attracted researchers from all over the world, including Alexander Graham Bell Medal winner Tsuneo Nakahara, who in 1961 was a visiting research associate of the institute, and who went on to be vice chairman of the Sumitomo Electric Company, and Dr. Oguchi, who became chief engineer of Nippon Telegraph and Telephone. Another faculty member closely associated with MRI was KunMo Chung, Director of the Plasma Physics Laboratory from 1967 to 1975, who served as Minister of Science and Technology of South Korea two times and who was associated with numerous international science and technology agencies.