June 21, 2012 at 08:03 AM EDT
American Shared Hospital Services Announces Contract to Supply a Gamma Knife Perfexion System to Northern Westchester Hospital in Mt. Kisco, NY

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 contract to supply a Gamma Knife® Perfexion™ system to Northern Westchester Hospital (NWH) in Mt. Kisco, New York. The Perfexion system will be an upgrade to an existing Gamma Knife supplied by AMS to NWH in 2005. Pending regulatory approval, patient treatments on this Perfexion system are expected to begin in the fourth quarter.

Northern Westchester Hospital provides high quality, patient-centered care through a combination of medical expertise, leading edge technology, and a commitment to humanity. The Cancer Treatment and Wellness Center at NWH provides access to top oncologists and surgeons who excel in treating a broad range of cancers. Through the application of leading edge technologies and treatments, highly-trained specialists work together to provide a course of treatment uniquely tailored to each patient.

“Northern Westchester Hospital is committed to providing patients with the highest level of quality medical care and continues to bring leading-edge technology to Westchester County. With the addition of the Gamma Knife Perfexion, NWH cancer specialists and neurosurgeons are better able to treat patients with malignant and benign brain tumors, vascular malformations, and trigeminal neuralgia by delivering highly targeted, concentrated doses of radiation, while sparing adjacent, healthy brain tissue,” stated Marla Koroly, MD, FACP, Senior Vice President for Medical Affairs and Chief Medical Officer at Northern Westchester Hospital.

“Gamma Knife treatment benefits patients by enabling many to return to pre-treatment activities in 24-72 hours. Typically, Gamma Knife radiosurgery can be completed in one session, making it an effective, convenient and patient-friendly treatment option,” added Dr. Koroly.

AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "We are pleased that Northern Westchester Hospital will become the fourteenth cancer center to take advantage of AMS' creative financing solutions to upgrade to next-generation radiosurgery technology at an affordable price."

About Gamma Knife® PerfexionTM

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. According to its manufacturer, Elekta, 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.

About AMS

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, Boston, Orlando and Long Beach, California, and is negotiating additional projects. AMS owns a preferred stock investment in Mevion Medical Systems, developer of the compact MEVION S250 PBRT system.

About Northern Westchester Hospital

Northern Westchester Hospital (NWH) provides quality, patient centered care that is close to home through a unique combination of medical expertise, leading edge technology, and a commitment to humanity. Over 750 highly skilled physicians, state-of-the-art technology and professional staff of caregivers are all in place to ensure that you and your family receive treatment in a caring, respectful and nurturing environment.

NWH has established extensive internal quality measurements that surpass the standards defined by the Centers for Medicare & Medicaid Services (CMS) and the Hospital Quality Alliance (HQA) National Hospital Quality Measures. Our high quality standards help to ensure that the treatment you receive at NWH is among the best in the nation. For a complete list of our services, please visit www.nwhc.net.

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 and proton beam radiation therapy programs, and the risks of investing in a development-stage company, Mevion Medical Systems, Inc. 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, 2011, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 7, 2012.

Contacts:

American Shared Hospital Services
Ernest A. Bates, M.D., (415) 788-5300
Chairman and Chief Executive Officer
e.bates@ashs.com
or
Berkman Associates
Neil Berkman, (310) 477-3118
President
info@berkmanassociates.com
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