American Shared Hospital Services Announces Turkish Government Approval of
Reimbursement for Gamma Knife Treatments at Florence Nightingale Hospital
SAN FRANCISCO -- January 28, 2013
AMERICAN SHARED HOSPITAL SERVICES (NYSE MKT:AMS), a leading provider of
turnkey technology solutions for advanced radiosurgical and radiation therapy
services, announced today that the government of Turkey has approved
reimbursement under the country’s health insurance program for treatment with
the Gamma Knife^® Perfexion^TM system at Florence Nightingale Hospital Group
in Istanbul supplied by AMS through its EWRS Turkey subsidiary. This Perfexion
system began treating private pay patients in May 2012.
Reimbursement had previously been approved for treatments with the Gamma Knife
system at Baskent University in Adana, Turkey supplied by AMS.
AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "We
expect treatment volume at Florence Nightingale Hospital Group to accelerate
now that this reimbursement policy has been established. With more than 90% of
Turkey’s population of 77 million covered under the country’s health insurance
program, Turkey represents a significant growth opportunity for 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 the latest IGRT and IMRT
systems, as well as its proprietary Operating Room for the 21st Century^SM
concept. AMS owns a preferred stock investment in Mevion Medical Systems,
Inc., developer of the compact MEVION S250 Proton Therapy System.
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 program, and the risks of investing in a development-stage
company, Mevion Medical 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, 2011, the Quarterly Report on form 10-Q for the quarter
ended March 31, 2012, the Quarterly Reports on Form 10-Q and 10-Q/A for the
quarter ended June 30, 2012, the Quarterly Report on form 10-Q for the quarter
ended September 30, 2012, and the definitive Proxy Statement for the Annual
Meeting of Shareholders held on June 7, 2012.
American Shared Hospital Services
Ernest A. Bates, M.D., 415-788-5300
Chairman and Chief Executive Officer
Neil Berkman, 310-477-3118
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