American Shared Hospital Services Announces Start of Patient Treatments at its Radiation Therapy Facility, A.B. Radiocirugía y Radioterapia de Puebla, in Puebla, Mexico
06 Agosto 2024 - 6:00AM
American Shared Hospital Services (NYSE American: AMS) (the
"Company"), a leading provider of turnkey technology solutions for
stereotactic radiosurgery and advanced radiation therapy equipment
and services, today announced that it has begun treating patients
at its Radiation Therapy Facility, A.B. Radiocirugía y Radioterapia
de Puebla (“A.B.”), in Puebla, Mexico, located 80 miles from Mexico
City.
AMS has a Joint Venture (“JV”) agreement with the principal
owners of Guadalupe Amor Y Bien (“Guadalupe”) to treat public and
private cancer patients at A.B. AMS and Guadalupe hold 85% and 15%
ownership interests, respectively, in A.B. Under the agreement, AMS
has provided an Elekta Versa HD (“Versa”) linear accelerator
(“linac”), an upgrade to Guadalupe’s previous, older linac, and
Guadalupe was accountable for all site modification costs.
Guadalupe Amor Y Bien was a well-established, privately owned
radiation therapy facility. Founded in 1997, Guadalupe introduced
the first linac in the region which has a population of over six
million people. The facility had not previously operated since
2020. A.B. Radiocirugía y Radioterapia de Puebla is staffed by an
administrative and medical team, including a full-time Director
General and radiation oncologist Medical Director, physicists and
radiation therapists.
“We are excited about this first expansion of our international
strategy into Mexico, which also includes our existing Gamma Knife
centers in Peru and Ecuador. Moreover, we recently announced our
joint venture agreement with Hospital San Javier to treat patients
with the most advanced Leksell Gamma Knife Model Esprit in
Guadalajara, Mexico,” said Ray Stachowiak, Executive Chairman and
Chief Executive Officer. “We believe the start of patient
treatments in Puebla with the Versa linac is a testament to AMS’
broadened product line and is ripe with opportunity. The upgrade to
the Versa’s multiple treatment techniques, which includes IMRT,
VMAT, SBRT and Radiosurgery, are expected to generate significant
demand from the populous region.”
Ernest R. Bates, VP of Sales and Business
Development-International at AMS, added, “The ability to offer
additional treatment modalities to the region is expected to be a
significant competitive advantage. The introduction of IMRT is
expected to improve patient outcomes. The upgrade brings to
fruition the first and only radiosurgery device to the region,
where until now patients have been travelling 80 miles to Mexico
City to receive these treatments. Importantly, the Versa’s
radiosurgery capabilities allow patients to be treated in one
session versus multiple treatments for other options, which is
expected to further drive demand.”
AMS’ JV partner, Ms. Guadalupe Guzman Moreno, commented, “We are
excited to begin treating patients and providing these much-needed
services to the region again. The enhanced equipment that the JV
affords will ensure that our patients won’t have to travel long
distances to receive advanced care.”
About American Shared Hospital Services (NYSE American:
AMS)
American Shared Hospital Services (ASHS) is a leading provider
of creative financial and turnkey solutions to cancer treatment
centers, hospitals, and large cancer networks worldwide. The
Company works closely with all major global Original Equipment
Manufacturers (OEMs) that provide leading edge clinical treatment
systems and software to treat cancer using Radiation Therapy and
Radiosurgery. The Company is vendor agnostic and provides financial
support for a wide range of products including MR Guided Radiation
Therapy Linacs, Advanced Digital Linear Accelerators, Proton Beam
Therapy Systems, Brachytherapy systems and suites, and through the
Company’s subsidiary, GK Financing LLC., the Leksell Gamma Knife
product and services. For more information, please
visit www.ashs.com.
Safe Harbor StatementThis 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 including statements regarding
the expected continued growth of the Company and the expansion of
the Company’s Gamma Knife, proton therapy and MR/LINAC business,
which involve risks and uncertainties including, but not limited
to, the risks of economic and market conditions, the risks of
variability of financial results between quarters, the risks of the
Gamma Knife and proton therapy businesses, the risks of changes to
CMS reimbursement rates or reimbursement methodology, the risks of
the timing, financing, and operations of the Company’s Gamma Knife,
proton therapy, and MR/LINAC businesses, the risk of expanding
within or into new markets, the risk that the integration or
continued operation of acquired businesses could adversely affect
financial results and the risk that current and future acquisitions
may negatively affect the Company’s financial position. 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, 2023, and the definitive Proxy Statement for the Annual Meeting
of Shareholders that was held on June 25, 2024.
Contacts:
American Shared Hospital ServicesRanjit Pradhan
VP Of MarketingP: (415) 788-5300 Ext 4021rpradhan@ashs.com
Investor RelationsPCG Advisory, Inc.Kirin
Smith, Presidentksmith@pcgadvisory.com