For more information
Ernest A. Bates, M.D., Chairman and CEO
San Francisco, CA, November 2, 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 10-year contract to supply a Leksell Gamma Knife® PerfexionTM system to Fort Sanders Regional Medical Center in Knoxville, Tennessee. This system, the ninth placed by AMS to date, will be an upgrade to Perfexion specifications of an existing Gamma Knife previously supplied by AMS to another hospital in the area. Following the upgrade and move to its new location, the Perfexion system is expected to begin treating patients in the first quarter of 2011.
Keith Altshuler, President & Chief Administrative Officer of Fort Sanders Regional Medical Center, said, "Fort Sanders is a regional referral center, where other hospitals send their most difficult cases. This designation allows us the opportunity to bring the newest technologies and services to patients from all over East Tennessee and surrounding states. Our goal is excellence and we strive for nothing less. The Perfexion system is widely regarded as the most advanced stereotactic radiosurgery system available today, and we are excited to make this advanced treatment available to our cancer patients in partnership with Thompson Cancer Survival Center."
AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "Our newest clinical partner is the premier cancer treatment center in the East Tennessee region. We are pleased that our creative financing solutions have made possible this upgrade to next-generation radiosurgery technology at an affordable price."
About Leksell Gamma Knife® PerfexionTM
Leksell Gamma Knife Perfexion maintains full clinical compatibility with the classic Leksell Gamma Knife and is supported by efficacy and outcome data from 500,000 treated patients worldwide and thousands of peer-reviewed scientific articles, making it a proven choice for radiosurgery of the brain. According to Elekta, Leksell Gamma Knife Perfexion reduces unwanted body dose to the patient by up to 100 times compared with competing technologies, which is particularly important for treatment of children and women of childbearing age, and allows for a dramatically increased treatable volume, which is expected to increase the number of patients that can benefit from Gamma Knife surgery. Elekta estimates that the fully automated and efficient single push-button approach can save 3-5 working weeks of physician time per year at an average Gamma Knife center.
American Shared Hospital Services (www.ashs.com) provides turnkey technology solutions for advanced radiosurgical and radiation therapy services. Since 1991, AMS' creative financing solutions have enabled its clinical partners to make the latest advances in radiation oncology available to patients at an affordable price. 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. AMS also is a leader in proton beam radiation therapy (PBRT), the next great growth opportunity in radiation oncology. AMS currently is developing PBRT centers in Dayton, Ohio (Kettering Medical Center), Boston, Massachusetts (Tufts Medical Center), Orlando, Florida (Orlando Regional Healthcare) and Long Beach, California (Long Beach Memorial Medical Center), and is negotiating additional projects. AMS also owns a preferred stock investment in Still River Systems, developer of the compact Monarch 250 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, 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