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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) announced its Annual Meeting of Shareholders will take place on June 20, 2023, at 9:00 a.m. PT, both virtually and in-person at the Hilton Hotel in San Francisco, CA. The record date for determining eligible shareholders is set for April 24, 2023. AMS is a prominent provider of technology solutions for stereotactic radiosurgery and advanced radiation therapy, focusing on cancer treatment facilities. The company collaborates with major OEMs to offer advanced medical equipment, including MR Guided Radiation Therapy Linacs and Proton Beam Therapy Systems. AMS highlights its Gamma Knife radiosurgery equipment for non-invasive tumor treatment. The firm also issued a safe harbor statement discussing potential risks affecting its financial outlook.
American Shared Hospital Services (AMS) reported a strong financial performance for Q4 2022, with revenue exceeding $5 million for the second time in the year, marking a 7.4% increase from Q4 2021. Net income rose by 12% to $246,000 or $0.04 per share. Full-year revenue reached nearly $20 million, representing a 12% increase, while net income surged six-fold to $1.3 million or $0.21 per share. Major highlights include a 33.4% increase in proton therapy revenue, a solid cash position of $12.5 million, and a first order of 2023 valued at $1.3 million. The company is also advancing its joint ventures in Mexico and Ecuador.
American Shared Hospital Services (AMS) announced a quarterly conference call scheduled for March 24, 2023, at 1:00 PM ET to discuss its fourth quarter and year-end 2022 financial results. The financial results press release will be available before market opening on the same date. Investors can participate in the call by dialing 1 (844) 413-3972 and joining the AMS call. A simultaneous webcast will be accessible on the AMS website. A call replay will be available through March 31, 2023, at 1 (877) 344-7529 with access code 7388246. AMS provides technology solutions for radiation therapy and is a leader in Gamma Knife radiosurgery.
American Shared Hospital Services (NYSE American: AMS) announced key management changes effective March 7, 2023. Ray Stachowiak transitions to Executive Chairman after serving as CEO since October 2020. Peter Gaccione, previously COO, is named CEO, bringing over 40 years in medical oncology. AMS has booked its first order of 2023, valued at $1.3 million, which is expected to ship in the second quarter. The company is also searching for a new CFO as Craig Tagawa remains President and CFO until a successor is found. Stachowiak expressed confidence in the new management team's capability to drive AMS forward.
American Shared Hospital Services (AMS) reported a strong third quarter for 2022, with total revenue increasing by 17.8% to $4.83 million. Notably, proton therapy revenue surged by 82% due to higher volumes and average reimbursements. The gross margin expanded to 40.5%, resulting in gross profit of $2 million, a 33.4% increase. Net income rose to $316,000 or $0.05 per share. Adjusted EBITDA also grew by 28% to $1.99 million. As of September 30, 2022, AMS had cash reserves of $11.66 million, indicating robust financial health.
American Shared Hospital Services (NYSE: AMS) will host a quarterly conference call on November 10, 2022, at 3:00 pm ET to discuss its third-quarter financial results. The press release detailing these results will be available before market open on the same day. The call can be accessed by dialing 1 (844) 413-3972 or via a webcast on the company's website. A replay will be available until November 17, 2022. AMS specializes in providing technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment.
American Shared Hospital Services (AMS) will present at the 15th Annual Main Event on October 25, 2022, at 8:00 AM PT in Los Angeles. The event will showcase over 200 companies, providing a platform for corporate overviews and investor meetings. AMS specializes in advanced radiation therapy solutions, including stereotactic radiosurgery and Gamma Knife equipment for treating brain tumors. The presentation will be led by CEO Ray Stachowiak and President/CFO Craig Tagawa. Investors can register to watch the presentation live online.
American Shared Hospital Services (AMS) has appointed Peter Gaccione as Chief Operating Officer, effective September 7, 2022. Gaccione brings over 40 years of experience in Radiation Oncology, having previously led Myocardial Solutions Inc. and held executive roles at Elekta AB. His leadership is expected to strengthen AMS's management team and enhance growth opportunities in photon and proton technologies. CEO Ray Stachowiak expressed confidence in Gaccione's market knowledge and relationship-building skills, reinforcing AMS's commitment to providing comprehensive cancer treatment solutions.
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