AMERICAN SHARED HOSPITAL SERVICES (NYSE AMEX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that the Elekta Axesse TM Radiosurgery system it supplied to Baskent University, Adana, Turkey under a contract announced in March, 2011, has treated its first patient. The Kisla Campus of Baskent University houses the largest and most modern oncology center in the Adana region, now including both a Gamma Knife and two linear accelerator devices used for radiation therapy. Baskent University has a total of 561 hospital beds. AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "We are impressed with the professionalism of our Turkish partners and look forward to building our business together. Turkey is the fastest growing economy in Europe and the third fastest growing economy in the world behind only China and India. Given the small number of radiosurgery devices and services in the country today, and the fact that more than 90% of the population of 77 million is covered by health insurance, Turkey represents a significant growth opportunity for AMS. Together with our partner EMKA LLC, an affiliate of Ankara-based ÖZYÜREK A.Ş., Elekta's distributor in Turkey for the past twenty five years, we are committed to pursuing additional growth opportunities in Turkey." About Axesse Radiosurgery Systems Axesse Radiosurgery is a stereotactic treatment solution for the treatment of cancer and diseases of the brain, spine and body. According to its manufacturer, Elekta, Axesse Radiosurgery systems enable the delivery of higher and more conformal doses of radiation in fewer fractions than with conventional radiation techniques. The system combines three-dimensional image guidance with beam shaping and sub-millimeter patient positioning to deliver fast, efficient and accurate treatment. This combination minimizes set-up error risk, helps avoid damaging critical structures during treatment and compensates for patient motion.
About AMSAmerican 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 (Kettering Medical Center), Boston (Tufts Medical Center), Orlando (Orlando Regional Healthcare) and Long Beach, California (Long Beach Memorial Medical Center), and is negotiating additional projects. AMS also owns a preferred stock investment in Still River Systems, developer of the compact Monarch 250 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 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, 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, 2010, the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 9, 2011.