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TMCNet:  American Shared Hospital Services Announces Contract to Supply a Gamma Knife Perfexion System to PeaceHealth Sacred Heart Medical Center at RiverBend

[August 07, 2014]

American Shared Hospital Services Announces Contract to Supply a Gamma Knife Perfexion System to PeaceHealth Sacred Heart Medical Center at RiverBend

SAN FRANCISCO --(Business Wire)--

AMERICAN SHARED HOSPITAL SERVICES (NYSE MKT:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that it has entered into a contract to supply a Gamma Knife® Perfexion™ system to PeaceHealth Sacred Heart Medical Center at RiverBend, Springfield, Oregon. This new Perfexion system, the fourteenth in AMS' portfolio, is expected to begin treating patients in the fourth quarter of 2014.

"The Gamma Knife Perfexion system is widely regarded as the most advanced stereotactic radiosurgery system available today," said John Hill, CEO of PeaceHealth Oregon West Network. "PeaceHealth Sacred Heart Medical Center will soon be the first hospital in the Willamette Valley to offer the Perfexion system for the treatment of brain tumors, trigeminal neuralgia, and other malformations within the brain."

AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D. said, "We are pleased that AMS' creative financing solutions will make it possible for patients at PeaceHealth Sacred Heart Medical Center to benefit from this advanced therapeutic technology. This installation represents our 28th new Gamma Knife site."

About Gamma Knife Perfexion

Gamma Knife Perfexion maintains full clinical compatibility with the classic Gamma Knife and is supported by efficacy and outcome data from 600,000 treated patients worldwide and thousands of peer-reviewed scientific articles, making it a proven choice for radiosurgery of the brain. 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.


About AMS

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 CenturySM concept. AMS owns a common stock investment in Mevion Medical Systems, Inc., developer of the compact MEVION S250 Proton Therapy System.

About PeaceHealth

PeaceHealth is a not-for-profit health care system with medical centers, critical access hospitals, medical group clinics and laboratories located in Alaska, Washington and Oregon. Founded by the Sisters of St. Joseph of Peace, PeaceHealth has provided exceptional medicine and compassionate care to Northwest communities for more than a century. PeaceHealth's Oregon operations include PeaceHealth Sacred Heart Medical Center at RiverBend in Springfield; PeaceHealth Sacred Heart Medical Center, University District in Eugene; PeaceHealth Peace Harbor Medical Center in Florence; and PeaceHealth Cottage Grove Community Medical Center in Cottage Grove. In addition, PeaceHealth Medical Group and PeaceHealth Laboratories operate numerous medical clinics and laboratories at various locations throughout Lane County. PeaceHealth employs approximately 6,000 caregivers in Lane County.

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, Mevion Medical 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 and Form 10-K/A for the year ended December 31, 2013, the Quarterly Report on Form 10-Q for the quarter ended on March 31, 2014, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 10, 2014.


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