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American Shared Hospital Services Agrees to Provide a Clinatron-250 Proton Beam Radiation Therapy System to M. D. Anderson Cancer Center Orlando

Posted on: Thursday, 16 November 2006, 09:01 CST

AMERICAN SHARED HOSPITAL SERVICES (AMEX:AMS)(PCX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that it has entered into an agreement to provide a Clinatron-250™ proton beam radiation therapy (PBRT) system to M. D. Anderson Cancer Center Orlando, part of Orlando Regional Healthcare, one of Florida's most comprehensive private, not-for-profit healthcare networks. Subject to the receipt of FDA approval for the Clinatron-250, AMS anticipates commencing its lease agreement with M. D. Anderson Cancer Center Orlando for the PBRT system in 2009.

Currently under development by Still River Systems, Littleton, Massachusetts, the Clinatron-250 is a single-treatment-room PBRT system incorporating proprietary technology that Still River believes may dramatically reduce the cost of implementing proton beam radiation therapy.

"This agreement with M. D. Anderson Cancer Center Orlando, AMS' first transaction with this prominent institution, illustrates how the new generation of affordable PBRT systems now on the horizon will make the significant clinical advantages of proton beam radiation therapy available to more cancer patients than ever before. We are pleased that our creative financing solutions will make it possible for M. D. Anderson Cancer Center Orlando to be a principal provider of proton beam radiation therapy," said Ernest A. Bates, Chairman and CEO of AMS.

Clarence H. Brown III, MD, president and CEO of M. D. Anderson Cancer Center Orlando, said, "Having proton beam radiation therapy in our center will offer an option to certain patients who otherwise would be required to leave the area to receive what may be their best treatment, and we are delighted to be able to partner with American Shared Hospital Services in this endeavor."

About M. D. Anderson Cancer Center Orlando

M. D. Anderson Cancer Center Orlando, part of Orlando Regional Healthcare, is affiliated with The University of Texas M. D. Anderson Cancer Center in Houston. U.S. News & World Report ranked M. D. Anderson Cancer Center one of the top two cancer facilities in the nation for 2005 and has done so for the past 16 years. Orlando Regional Healthcare, a 1,652-bed community-owned, Florida not-for-profit organization established in 1918, annually serves more than 640,000 Central Florida residents and 4,500 international patients. More information is available at www.mdandersonorlando.org.

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 services, 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. Through its equity investment in Still River Systems, AMS also plans to complement these services with the Clinatron-250™ proton beam radiation therapy (PBRT) system, which has not yet been approved by the FDA.

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 business, the risks of developing its IMRT and The Operating Room for the 21st Century® programs, and the risks of investing in a development-stage company, Still River 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 for the year ended December 31, 2005, the Form 10-Q for the three months ended March 31, 2006, June 30, 2006, and September 30, 2006, and the definitive Proxy Statement for the Annual Meeting of Shareholders on June 28, 2006.

Source: Business Wire

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