For more information
Ernest A. Bates, M.D., Chairman and CEO
San Francisco, CA, May 13, 2010 -- AMERICAN SHARED HOSPITAL SERVICES (NYSE AMEX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that it has entered into an agreement with Kettering Medical Center, Kettering, Ohio, to develop a proton beam radiation therapy (PBRT) center in Dayton.
"We have been working on this project for nearly three years as part of our 2016 master plan. Only recently has new technology made proton therapy economically practical for the Dayton area and its patient base," said Frank Perez, CEO of Kettering Health Network. "We are very comfortable with AMS' ability to bring proton therapy and a full continuum of cancer care to Dayton and the surrounding Midwest region."
AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "Long renowned for bringing the latest medical technology to patients in southwest Ohio, including a Leksell Gamma Knife® PerfexionTM system supplied by AMS, Kettering Medical Center is the ideal partner to develop this PBRT facility with us."
"Proton therapy is widely regarded as the optimal radiation treatment for a wide variety of cancers. Kettering is proud to take the lead in making this advanced therapy available to cancer patients in southwest Ohio. This agreement with AMS demonstrates our commitment to providing state-of-the-art care for our patients," said Roy Chew, PhD, President of Kettering Medical Center.
AMS previously has announced contracts to place PBRT devices at Tufts Medical Center in Boston, Orlando Regional Healthcare (with professional services to be provided exclusively by M.D. Anderson Cancer Center Orlando), and Long Beach Memorial Medical Center (in partnership with A.M. Nisar Syed & Associates, a leading radiation oncology group), and is developing PBRT facilities in San Francisco and New York City in partnership with Varian Medical Systems. "We are negotiating contracts to place additional PBRT systems in medical centers throughout the country," Dr. Bates said.About Kettering Medical Center
Kettering Medical Center (KMC) is home to Gamma Knife Perfexion, DaVinci robotic surgery, advanced medical imaging and other remarkable technologies. Named for the renowned inventor Charles F. Kettering, KMC strives to live up to Kettering's legacy of innovation every day. The medical center is part of Kettering Health Network (KHN), which is comprised of six hospitals in western Ohio. With the strength of 8,300 employees and 1,500 physicians, KHN was named last fall to Thomson Reuters' Top 10 Health Networks in America.About AMS (www.ashs.com)
American Shared Hospital Services provides turnkey technology solutions for advanced radiosurgical and radiation therapy services. AMS is the world leader in providing Gamma Knife radiosurgery equipment, a non-invasive treatment for malignant and benign brain tumors, vascular malformations and trigeminal neuralgia (facial pain). The Company also offers the latest IGRT and IMRT systems, as well as its proprietary Operating Room for the 21st Century® Concept. Through its preferred stock investment in Still River Systems, AMS also plans to complement these services with the Monarch 250TM proton beam radiation therapy (PBRT) system, which has not yet been approved by the FDA.
Safe Harbor Statement
This press release may be deemed to contain certain forward-looking statements with respect to the financial condition, results of operations and future plans of American Shared Hospital Services, which involve risks and uncertainties including, but not limited to, the risks of the Gamma Knife and radiation therapy businesses, the risks of developing The Operating Room for the 21st Century program, and the risks of investing in a development-stage company, Still River Systems, Inc., without a proven product. Further information on potential factors that could affect the financial condition, results of operations and future plans of American Shared Hospital Services is included in the filings of the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2008, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 and June 30, 2009, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on May 28, 2009.
American Shared Hospital Services
Ernest A. Bates, M.D., (415) 788-5300
Chairman and Chief Executive Officer
Neil Berkman, (310) 826-5051
Kettering Medical Center
Kevin Lavoie, Media Relations Specialist
(937) 384 3892