For more information
Ernest A. Bates, M.D., Chairman and CEO
San Francisco, CA, August 30, 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 a ten-year contract to supply radiation therapy services at Hospital Santa Paula (HSP) in São Paulo, Brazil. AMS will place an advanced technology linear accelerator with IMRT capabilities at HSP, and is expected to begin treating patients in early 2012 in conjunction with the expected completion of a new comprehensive cancer center to be built by the hospital.
AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "This is an exciting time for AMS as we sign our second international contract in the past six months. We are proud that AMS' creative financing solutions make it possible for us to bring the benefits of radiation therapy treatment services to cancer patients in the fifth most populous country in the world. With a population of over 190 million in Brazil and 11 million in São Paulo alone, we anticipate great demand for our radiation therapy services. Hospital Santa Paula will treat patients from all over Brazil as well as other countries in Latin America who now must travel long distances for these treatments."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 plans to complement these services with the Monarch 250TM proton beam radiation therapy (PBRT) system, which has not yet been approved by the FDA.About Hospital Santa Paula
Hospital Santa Paula, considered a center of excellence with specialties in oncology, neurosurgery, orthopedic and cardiovascular surgery, is located in the South Zone of São Paulo, Brazil. The Hospital has over 200 beds with 700 employees serving more than 100,000 patients a year. The Hospital plans to begin work on constructing a state-of-the-art comprehensive cancer center later this year.
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, 2009, the Quarterly Report on Form 10-Q for the quarters ended March 31, 2010 and June 30, 2010 and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 2, 2010.
American Shared Hospital Services
Ernest A. Bates, M.D., (415) 788-5300
Chairman and Chief Executive Officer
Neil Berkman, President, (310) 826-5051