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American Shared Hospital Services Receives Firm Financing Commitment For The Proton Therapy System It Will Supply To MD Anderson Cancer Center Orlando

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, announced today that it has received a firm financing commitment for the MEVION S250™ Proton Therapy System AMS will supply for the $25 million proton therapy center now under construction at MD Anderson Cancer Center Orlando.

MD Anderson Orlando's new facility, the first proton center in Central Florida, is expected to begin treating patients in early 2014.

AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "Following the announcement in June of FDA 510(k) clearance for the MEVION S250, our receipt of a firm financing commitment for the proton device we will supply to the new center in Orlando is the next important step in AMS' long-term strategy to develop proton projects as rapidly as possible, even as we continue growing our Gamma Knife business. The financing is similar to the structure we have used for many years to finance our Gamma Knife projects. We expect the MD Anderson Cancer Center Orlando to be the model for additional proton centers we are developing. We are pleased to play a critical role in making this exciting cancer therapy available at an affordable price." AMS owns approximately 1% of Mevion Medical Systems, developer of the MEVION S250, and in addition to Orlando is developing proton therapy centers in Boston and Long Beach, California which are expected to employ the Mevion device. AMS also is developing a two room proton therapy center in Dayton, Ohio.

"By bringing this technology here to Central Florida, we are making this revolutionary cancer treatment available to so many more individuals," said Mark Roh, M.D, President of MD Anderson Cancer Center Orlando. "Proton Therapy is the cutting edge of cancer fighting technology and now we’ll have it right here in Orlando."

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