Extended 10-year Agreement to Upgrade Gamma Knife^® Perfexion^™ with Elekta Esprit

SAN FRANCISCO, CA, June. 7, 2024 (GLOBE NEWSWIRE) — via NewMediaWire GK Financing LLC (GKF), a subsidiary of American Shared Hospital Services (NYSE American: AMS), a leading provider of turnkey technology solutions for advanced radiosurgery and radiation oncology services, announced today that it has extended its current agreement with PeaceHealth Sacred Heart Medical Center at RiverBend in Springfield, Ore.

The new agreement will see the center upgrade its existing Gamma Knife^® Perfexion^™ system with Esprit, Elekta’s newest Gamma Knife^® radiosurgery system. GKF expects to complete installation by October 1.

Gamma Knife^® radiosurgery is a gentler alternative to open surgery and conventional radiotherapy as it can target the smallest and most challenging intracranial tumors and lesions with minimal effect on healthy tissue. This vital precision safeguards motor, sensory and neurocognitive function to help protect the mind and the person.

Esprit includes a variety of innovations in a single platform and offers clinicians superior visualization, remote treatment planning that increases and improves workflow efficiency and remote accessibility, and collaboration tools designed to meet the needs of changing environments.

Ray Stachowiak, executive chairman and CEO of American Shared Hospital Services, said: “Our longstanding partnership of 10 years with PeaceHealth Sacred Heart Medical Center at RiverBend will continue to grow with the upgrade of its current Gamma Knife^® to the new Esprit system. GKF is extremely proud to support the neurosurgery and radiation oncology teams as they move to the latest Gamma Knife^® Esprit, which will allow them to offer even more precise clinical treatments to patients. Patients treated with Esprit can maintain their quality of life and go back to what they love doing after radiosurgery. We look forward to bringing this new technology to cancer patients at RiverBend.”

Andrew Kokkino, MD, medical director of the Gamma Knife Center at PeaceHealth Sacred Heart Medical Center at RiverBend, added: “Our medical staff has been providing Gamma Knife^® radiosurgery treatments with great success since adding it to the suite of treatments we offer to our patients. Upgrading our current system with the Esprit gives us multiple clinical options. Now we can offer even more personalized and patient-friendly treatments. Patients can return home the same day and resume their normal activities shortly after. We are excited to continue our partnership with GKF and appreciate its support in bringing Esprit to our hospital.”

About PeaceHealth

PeaceHealth, based in Vancouver, Wash., is a non-profit Catholic health system offering care to communities in Washington, Oregon and Alaska. PeaceHealth has approximately 16,000 caregivers, more than 3,000 providers, more than 160 clinics and 9 medical centers serving both urban and rural communities throughout the Northwest. In 1890, the Sisters of St. Joseph of Peace founded what has become PeaceHealth. The Sisters shared expertise and transferred wisdom from one medical center to another, always finding the best way to serve the unmet need for healthcare in their communities. Today, PeaceHealth is the legacy of the founding Sisters and continues with a spirit of respect, stewardship, collaboration and social justice in fulfilling its Mission. Visit us online at peacehealth.org.

About GK Financing, LLC

GK Financing, LLC, a subsidiary of American Shared Hospital Services in partnership with Elekta, provides creative financial and turnkey technology solutions for the Gamma Knife system. GKF 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). GKF offers creative payment models such as pay per treatment, payment on percentage of revenue collected, and even joint venture models. GKF provides full project management for the entire project with no capital outlay in a risk sharing model. For more information, please visit: www.gkfinancingllc.com.

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 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 GK Financing and American Shared Hospital Services (including statements regarding the expected continued growth in volume, expansion of the Company’s business, and the timing of treatments by new Gamma Knife systems) which involve risks and uncertainties including, but not limited to, the risks of variability of financial results between quarters, the risks of the Gamma Knife and radiation therapy businesses, and the risks of the timing, financing, and operations of the Company’s 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 with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10‑K, its Quarterly Reports on Form 10-Q, and the definitive Proxy Statement for the Annual Meeting of Shareholders.

Contacts:

GK Financing, LLC
Ranjit Pradhan, VP Of Marketing
P: (415) 788-5300 Ext 4021
rpradhan@ashs.com

Jim Murez
PeaceHealth Communications
jmurez@peacehealth.org

PCG Advisory Group, Investor Relations
Kirin Smith
P: 646-823-8656 kirin@pcgadvisory.com

Installation expected to be Completed in Mid-2024

SAN FRANCISCO, CA, Dec. 13, 2023 (GLOBE NEWSWIRE) — via NewMediaWire GK Financing LLC (GKF), a subsidiary of American Shared Hospital Services (NYSE American: AMS), and a leading provider of creative financial and turnkey technology solutions for advanced radiosurgery and radiation oncology services, announced today that it has entered into an agreement with Lovelace Medical Center (LMC), Albuquerque, NM, to reload its Gamma Knife Icon with new Cobalt Sources, as well as install Lightning Treatment Planning software that is expected to drive efficiencies, productivity and accuracy, among other benefits. GKF projects completing installation in mid-2024.

Peter Gaccione, Chief Executive Officer of AMS and Board Member of GK Financing, commented, “This extension and upgrade demonstrates the confidence and value LMC bestows on our mutual partnership and the Gamma Knife® Icon, which is the gold standard for gentler non-invasive cancer treatment and is a great benefit to the Albuquerque community that is battling cancer.”

“Our providers and staff are committed to providing the highest quality of care at Lovelace Medical Center,” said Brian Miller, LMC Chief Operating Officer. “We are proud to continue to provide care for our community with the State’s only Gamma Knife ® that treats cancer with more precise radiosurgery, and can lead to a better outcome and improved quality of life for our patients.”

Gamma Knife^® radiosurgery is a gentler alternative to open surgery and conventional radiotherapy as it can target the smallest and most challenging intracranial tumors and lesions with minimal effect on healthy tissue. This vital precision safeguards motor, sensory and neurocognitive function to help protect the mind and the person.

About Lovelace Medical Center

Lovelace Medical Center (LMC), located in the heart of Albuquerque, is a 263-bed acute care hospital with over 1,200 employees providing comprehensive care, including around-the-clock emergency care, surgical services, non-invasive robotic spine surgery, cardiology, stroke care, radiology and oncology services. Lovelace Medical Center was recently given a Spring 2021 Grade A by Leapfrog Hospital Safety and received the American Heart Association/American Stroke Association Get with the Guidelines Stroke Gold Plus Quality Achievement Award for 2023 for the 11th consecutive year. It earned Spine Surgery Program Certification from DNV for 2022- 2025 by demonstrating excellence in orthopedic surgery, including diagnosis and treatments in spine surgery as well as Primary Stroke Center Certification from DNV for 2022 – 2025 for its readiness to handle a full range of stroke-related medical problems. Money and the Leapfrog Group named LMC to their list for 2022 Best Hospitals and Surgery Centers for Billing Ethics, showing its dedication to delivering the highest quality of care for patients, while ensuring adherence to the maximum ethical standards for billing. To learn more about the state-of-the-art treatment options, innovative health care providers and award-winning quality initiatives at Lovelace Medical Center, visit www.lovelace.com.

About GK Financing, LLC

GK Financing, LLC, a subsidiary of American Shared Hospital Services in partnership with Elekta, provides creative financial and turnkey technology solutions for the Gamma Knife system. GKF 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). GKF offers creative payment models such as pay per treatment, payment on percentage of revenue collected, and even joint venture models. GKF provides full project management for the entire project with no capital outlay in a risk sharing model. For more information, please visit: www.gkfinancingllc.com.

About American Shared Hospital Services

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 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 GK Financing and American Shared Hospital Services (including statements regarding the expected continued growth in volume, expansion of the Company’s business, and the timing of treatments by new Gamma Knife systems) which involve risks and uncertainties including, but not limited to, the risks of variability of financial results between quarters, the risks of the Gamma Knife and radiation therapy businesses, and the risks of the timing, financing, and operations of the Company’s 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 with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10‑K, its Quarterly Reports on Form 10-Q, and the definitive Proxy Statement for the Annual Meeting of Shareholders.

Contacts:

GK Financing, LLC
Ranjit Pradhan, Head of Marketing
P: (415) 788-5300 Ext 4021
rpradhan@ashs.com

Lovelace Medical Center
Whitney Marquez, Communications Manager
P: (505).903.0367
Whitney.Marquez@lovelace.com

Investor Relations
PCG Advisory Group
Stephanie Prince, SMD
P: (646) 863-6341 sprince@pcgadvisory.com

Upgrade of Gamma Knife^® 4C with NEW Elekta ICON for most precise and accurate treatment of Intracranial cancers and other indications

SAN FRANCISCO, CA, Nov. 28, 2023 (GLOBE NEWSWIRE) — via NewMediaWire GK Financing LLC (GKF), a subsidiary of American Shared Hospital Services (NYSE American: AMS), a leading provider of creative financial and turnkey technology solutions for advanced radiosurgery and radiation oncology services, announced today that it has demonstrated its continued commitment in Ecuador by completing the installation of a new state-of-the-art Elekta Gamma Knife ICON at the Company’s wholly owned Gamma Knife Center (GKCE). The first patient was treated successfully on November 14, 2023, after completion of clinical acceptance. The total downtime for removal, installation and acceptance testing took just six weeks to perform.

Gamma Knife^® radiosurgery is a gentler alternative to open surgery and conventional radiotherapy as it can target the smallest and most challenging intracranial tumors and lesions with minimal effect on the surrounding healthy tissue. This vital precision safeguards motor, sensory and neurocognitive function to help protect the mind and the person.

Gamma Knife ICON includes a variety of innovations now available in a single platform, including offering clinicians the option of performing frameless (or mask based immobilization of the head) or frame-based immobilization workflows with the Leksell headframe, both of which provide superior visualization. The Gamma Knife ICON also employs the latest Lightning Treatment Planning system with remote treatment planning that increases and improves workflow efficiency and accessibility, as well as collaboration tools designed to meet the needs of changing clinical environments. ICON also offers CT Imaging technology for faster patient set up and verification

Dr. Mario Pinos, Medical Director of GKCE, commented about the first treatment, “Gamma Knife Center Ecuador successfully completed a groundbreaking treatment under extremely comfortable conditions for our patient with our newly installed state-of-the-art system in a reduced time frame. The entire medical team participated in our first ICON case and are exhilarated with the expanded clinical outcomes. Gamma Knife ICON is designed to save lives threatened by brain lesions.”ealthy tissue. Patients can return home the same day and resume their normal activities within days.

Pamela Mata, General Manager GKCE, added, “Gamma Knife Center Ecuador can now offer an even wider array of treatment options with its new ICON suite, and will continue to provide its excellent patient experience practices to those with rare catastrophic diseases, and providing hope and wellbeing to hundreds of Ecuadorians.”

Peter Gaccione, CEO of American Shared Hospital Services and Board Member of GKCE, said, “We are so pleased to provide this latest advanced treatment technology to our Center in Ecuador. The Gamma Knife ICON offers more clinical throughput, features, and benefits to patients, such as faster treatment times, masked-based immobilization, and same day CT Imaging and treatments when applicable. These expanded options will benefit our patients in Ecuador in their fight against cancer.”

About Gamma Knife Center Ecuador (GKCE)

Since 2011, Gamma Knife Center Ecuador has been a pioneer in the field of radiosurgery, operating as the only specialized center in Ecuador for the care of brain tumors and other lesions that traditionally required conventional surgery. Our experience is based on science and real action for safe, reliable and efficient diagnosis and treatment and supported by staff with a patient-centered focus

About GK Financing, LLC

GK Financing, LLC, a subsidiary of American Shared Hospital Services in partnership with Elekta, provides creative financial and turnkey technology solutions for the Gamma Knife system. GKF 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). GKF offers creative payment models such as pay per treatment, payment on percentage of revenue collected, and even joint venture models. GKF provides full project management for the entire project with no capital outlay in a risk sharing model.

For more information, please visit: www.gkfinancingllc.com.

About American Shared Hospital Services

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 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 GK Financing and American Shared Hospital Services (including statements regarding the expected continued growth in volume, expansion of the Company’s business, and the timing of treatments by new Gamma Knife systems) which involve risks and uncertainties including, but not limited to, the risks of variability of financial results between quarters, the risks of the Gamma Knife and radiation therapy businesses, and the risks of the timing, financing, and operations of the Company’s 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 with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10‑K, its Quarterly Reports on Form 10-Q, and the definitive Proxy Statement for the Annual Meeting of Shareholders.

Contacts:

GK Financing, LLC
Ranjit Pradhan, Head of Marketing
P: (415) 788-5300 Ext 4021
rpradhan@ashs.com

Gamma Knife Center Ecuador – GKCE
Pamela Mata Patino, General Manager
P: +593 98 517 8800
pmata@gammaknife.com.ec

Investor Relations
PCG Advisory Group
Stephanie Prince, SMD
P: (646) 863-6341 sprince@pcgadvisory.com