American Shared Hospital Services Announces Contract to Supply a Gamma Knife Perfexion System to Methodist Hospitals-Southlake Campus, Merrillville, Indiana - May 10, 2018

Courtesy of NWIndianaLife.com • May 10, 2018 03:04 pm

Written by Methodist Hospitals

AMERICAN SHARED HOSPITAL SERVICES (NYSE American: 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 Methodist Hospitals–Southlake Campus, Merrillville, Indiana. This new Gamma Knife system is expected to begin treating patients in late 2018.

AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, “We are pleased that AMS’s risk sharing arrangements soon will make the Gamma Knife Perfexion system available to Methodist Hospitals–Southlake campus and the hospital’s brain tumor, trigeminal neuralgia and vascular malformation patients who will benefit from this advanced therapeutic technology. This will represent the Company’s 15th operating Gamma Knife Perfexion system. Our innovative financial approach is generating increased interest in today’s health care environment, and we anticipate additional new sites in the future.”

“We are gratified that this partnership with AMS allows Methodist to continue to offer residents of Northwest Indiana the benefits of the Gamma Knife, a non-invasive alternative to traditional treatments for complex, difficult brain conditions”, said Ray Grady, Methodist Hospitals President and Chief Executive Officer. “Methodist has been the only NWI hospital to offer the Gamma Knife since 2003.”

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 proton therapy and the latest IGRT and IMRT systems. AMS owns a common stock investment in Mevion Medical Systems, Inc., developer of the compact MEVION S250 Proton Therapy System.

About Methodist Hospitals
Methodist Hospitals, a not-for-profit, community-based healthcare system, is leading the way to better health for the communities of Northwest Indiana, implementing patient-centered initiatives that include investing in the latest treatments, technologies, and safety programs that are changing the way health care is delivered in Northwest Indiana. Methodist’s two full-service campuses are just 14 miles apart, with its Northlake Campus in Gary and the Southlake Campus in Merrillville, the heart of a large, growing suburban area and one of the Midwest’s busiest retail centers. In 2017, Methodist earned Magnet® designation by the American Nurses Credentialing Center.

Safe Harbor Statement
This press release may be deemed to contain certain forward looking statements with respect to the initiation of patient treatments using the Gamma Knife Perfexion system American Shared Hospital Services will supply to Methodist Hospitals. These statements involve risks and uncertainties including, but not limited to, the risks of the timing, financing, and operations of the Company’s Gamma Knife business. 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, 2017, and the definitive Proxy Statement for the Annual Meeting of Shareholders to be held on June 14, 2018.