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American Shared Hospital Services (NYSE American: AMS) is a leading provider of comprehensive financial and turnkey solutions to cancer treatment centers, hospitals, and large cancer networks worldwide. With over 100 years of industry experience, the management team at American Shared Hospital Services (ASHS) boasts unparalleled expertise in radiosurgery and radiation therapy services.
The company offers a diverse range of advanced medical equipment including stereotactic radiosurgery units, advanced radiation therapy devices, and related equipment. Through its subsidiaries, ASHS operates under three primary segments: Gamma Knife Operations, Advanced Radiation Therapy Equipment and Services, and Proton Beam Radiation Therapy Operations. The company's flagship products include the Gamma Knife, known for its precision in treating brain tumors and other intracranial conditions, as well as sophisticated linear accelerators and proton beam therapy systems.
ASHS has built a reputation for providing vendor-agnostic financial support, allowing flexibility and adaptability in acquiring top-of-the-line medical equipment. The company partners with major Original Equipment Manufacturers (OEMs) to ensure access to cutting-edge clinical treatment systems and software.
Recent strategic moves include the acquisition of a 60% majority equity interest in three Rhode Island cancer centers, which is expected to add $9-$10 million in annual revenue and significantly boost the company's backlog to over $210 million. This acquisition underscores ASHS's commitment to expanding its footprint in the U.S. and enhancing its product offerings.
Financially, ASHS showed solid performance by generating a total revenue of $5.7 million in Q4 2023, a 13.1% increase compared to the same period in the previous year. The company also reported a gross margin increase to 49.4%, reflecting continued efficiencies and operating leverage.
Leadership changes have also been pivotal in ASHS's recent trajectory. Following the sudden passing of CEO Peter Gaccione, Ray Stachowiak, the Executive Chairman, has taken on the role of CEO, while Craig Tagawa has been appointed President and Chief Operating Officer. These changes aim to strengthen the company's strategic direction and operational efficiency.
Looking forward, ASHS remains focused on expanding its international presence, completing significant equipment upgrades like the Gamma Knife Esprit system at PeaceHealth Sacred Heart Medical Center, and maintaining strong financial health to support future growth initiatives.
American Shared Hospital Services (NYSE American: AMS) has received Certificate of Need (CON) approval to construct and operate a Proton Beam Radiation Treatment (PBRT) facility in Johnston, Rhode Island through its subsidiary. The facility is expected to be operational in 36-39 months, providing local access to proton therapy for Rhode Island residents who currently must travel to Boston or New York for treatment.
This development adds to AMS's existing portfolio in Rhode Island, where it holds 60% majority ownership in three photon radiation therapy facilities. The company also received a CON in April 2024 for radiation therapy services in Rhode Island's East Bay area. The PBRT facility will be the third such system in the Northeast, strategically located between New York City and Boston facilities.
American Shared Hospital Services (NYSE American: AMS) reported Q3 2024 financial results with total revenue increasing 36.3% to $6,999,000. Direct patient services revenue grew 273.2% to $3,687,000, driven by acquisitions in Rhode Island and new facility in Puebla, Mexico. However, medical equipment leasing revenue decreased 16.1% to $3,312,000 due to lower Gamma Knife volumes. The company reported a net loss of $207,000 ($0.03 per share) compared to net income of $118,000 ($0.02 per share) in Q3 2023. Adjusted EBITDA was $1,366,000, down from $1,669,000 in the prior year period.
American Shared Hospital Services (NYSE American: AMS), a provider of stereotactic radiosurgery and advanced radiation therapy solutions, has scheduled its third quarter 2024 earnings conference call for November 13th at 1:00 PM ET. The financial results will be released before market opening on the same day. Investors can join via phone (domestic: 1-844-413-3972, international: 1-412-317-5776) or webcast through the company's website. A replay will be available until November 20, 2024.
American Shared Hospital Services (NYSE American: AMS) has announced key management appointments to support its growth strategy. Gary Delanois has been hired as Executive Vice President and Chief Operating Officer, bringing 28 years of healthcare management experience. Ranjit Pradhan has been promoted to Senior Vice President of Sales and Marketing, recognizing his critical role in renewing and expanding five of AMS's ten domestic Gamma Knife agreements over the past 18 months.
CEO Ray Stachowiak emphasized that these appointments align with the company's expansion plans and aim to optimize the overall business. Delanois's expertise in physician and payor relationships, as well as billing and collection procedures, is expected to contribute significantly to AMS's growth strategy. Pradhan will lead strategic marketing initiatives and drive new business growth, leveraging his extensive experience in global healthcare markets and strategic relationships.
American Shared Hospital Services (NYSE American: AMS) reported strong Q2 2024 financial results, with revenue increasing 27% year-over-year to $7.1 million. The company realized a gain of $3.7 million from the strategic acquisition of Rhode Island Radiation Therapy Cancer Centers. Net income attributable to AMS was $3.6 million, or $0.55 per diluted share, compared to a net loss of $111,000 in Q2 2023. Adjusted EBITDA increased to $2,010,000. Key highlights include:
- Gamma Knife procedures increased 10% due to strong international volume
- Proton beam radiation therapy revenue decreased 5%
- Cash at June 30, 2024 was $14.5 million
- Signed a joint venture agreement for a Gamma Knife facility in Guadalajara, Mexico
- Started patient treatments at the new Puebla, Mexico center
American Shared Hospital Services (NYSE American: AMS), a provider of stereotactic radiosurgery and advanced radiation therapy solutions, has announced its second quarter 2024 earnings conference call scheduled for August 14, 2024, at 6:30 PM ET. The company will release its Q2 2024 financial results after market close on the same day. Investors can participate in the call by dialing 844.413.3972 (domestic) or 412.317.5776 (international). A simultaneous webcast will be available on the company's website and www.streetevents.com. A replay of the call will be accessible until August 21, 2024, via phone and the company's website.
American Shared Hospital Services (NYSE American: AMS) has begun patient treatments at its new radiation therapy facility, A.B. Radiocirugía y Radioterapia de Puebla, in Puebla, Mexico. This facility is a joint venture with Guadalupe Amor Y Bien, with AMS holding an 85% ownership stake. The facility features an Elekta Versa HD linear accelerator, upgrading from Guadalupe's previous older equipment.
The new facility serves a population of over six million and offers advanced treatment techniques including IMRT, VMAT, SBRT, and Radiosurgery. This expansion is part of AMS's international strategy, which includes existing Gamma Knife centers in Peru and Ecuador, and a recently announced joint venture in Guadalajara, Mexico.
American Shared Hospital Services (NYSE American: AMS) announced a joint venture with Hospital San Javier to establish a Gamma Knife treatment facility in Guadalajara, Mexico. AMS will hold a 70% ownership in the venture, with HSJ holding the remaining 30%. The facility will upgrade its current Gamma Knife® Perfexion™ system to Elekta's latest Esprit model, enhancing treatment precision and efficiency. This venture marks AMS's fourth international center, expanding their global footprint in cancer treatment. The center aims to provide advanced, noninvasive brain treatments to a large patient population in Mexico. This collaboration is expected to bring superior radiosurgery solutions to the region.
GK Financing (GKF), a subsidiary of American Shared Hospital Services (AMS), has extended its agreement with PeaceHealth Sacred Heart Medical Center at RiverBend in Springfield, Oregon. The new 10-year agreement includes upgrading the existing Gamma Knife® Perfexion™ system to Elekta's latest Esprit system. The upgrade, expected to be completed by October 1, aims to enhance precision in treating intracranial tumors while minimizing impact on healthy tissue. The Esprit system offers superior visualization, remote treatment planning, and collaboration tools, improving workflow efficiency and patient outcomes.
American Shared Hospital Services (NYSE American: AMS) announced that its Annual Meeting of Shareholders will be held on Tuesday, June 25, 2024, at 9:00 a.m. PT. The meeting will take place in person at The Hilton Hotel in San Francisco, CA. The company provides turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services. The Board of Directors has set April 26, 2024, as the record date for shareholders entitled to notice and voting rights at the meeting.
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