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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 (AMS) has acquired a 60% majority interest in three radiation therapy cancer centers in Rhode Island, adding $9-$10 million in annual revenue with a positive net income contribution. The acquisition more than doubles the revenue backlog to over $210 million, expanding the company's U.S. footprint and product offering.
American Shared Hospital Services (AMS) will hold a conference call to discuss its first quarter 2024 financial results on May 14th. Investors can dial in or join the webcast to get insights into the Company's performance.
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