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American Shared Hospital Services Shares News That Mevion Medical Systems Has Received CE Marking Certification For Its MEVION S250 Proton Therapy System

Stocks in this article: AMS

AMERICAN SHARED HOSPITAL SERVICES (AMEX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, today shared a recent announcement from Mevion Medical Systems, Inc., formerly Still River Systems, Inc., regarding Mevion Medical Systems Receipt of CE Marking Certification for its MEVION S250 Proton Therapy System. AMS owns approximately 1% of Mevion. AMS is developing proton therapy centers in Boston, Orlando and Long Beach, California, which are expected to employ the MEVION S250 proton therapy device. The MEVION S250 is currently pending FDA 510(k).

Mevion Medical Systems Receives CE Marking Certification for the MEVION S250 Proton Therapy System

LITTLETON, MA, Mar. 14, 2012 -- Mevion Medical Systems, a radiation therapy company dedicated to advancing the treatment of cancer, has announced today that it has received CE Marking certification for the MEVION S250 Proton Therapy System. This important commercial milestone indicates that Mevion has completed its development in compliance with the European Union's Medical Device Directive. The CE Marking allows the MEVION S250 to be marketed, sold, and installed in the European Union and in any country recognizing CE Mark approval.

Proton beam radiotherapy can accurately deliver targeted radiation doses with complete proton energy absorption at predictable tissue depth, thus allowing precise radiation delivery adjacent to critical structures and lower radiation doses to healthy structures. The availability of proton therapy has remained very limited however, due to the enormous cost, large footprint, and technical complexity of traditional proton therapy systems.

CE Marking of the MEVION S250 gives hospitals and cancer treatment centers throughout the European Union, and other regions where CE Marking is recognized, the ability to order, install, and treat patients with this revolutionary medical device. Powered by a TriNiobium Core TM, the MEVION S250 significantly reduces the cost, size and complexity of proton therapy systems to levels similar to modern X-ray radiation therapy devices, and brings accessibility, affordability and practicality to proton therapy. "We are very pleased to receive CE Marking certification for the MEVION S250, the final step to offer this first of its kind proton therapy system to healthcare providers and patients in the European Union," said Joseph K. Jachinowski, Chief Executive Officer. In the United States, the MEVION S250 is pending USFDA 510(k) clearance.

Mevion is concurrently installing three MEVION S250 Proton Therapy Systems in the United States. The first site at the Siteman Cancer Center in Barnes Jewish Hospital, at Washington University in St. Louis Missouri accepted delivery of its superconducting synchrocyclotron in October of 2011 and is now producing a powerful 250 MeV energy beam. The second and third installations at Robert Wood Johnson University Hospital in New Brunswick, NJ and Oklahoma University, OK are underway and scheduled to be completed later this year.

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