American Shared Hospital Services Announces Official Notice of Certificate of Need Approval to Acquire the Technology to Construct and Operate a Proton Beam Radiation Therapy Facility in the State of Rhode Island

Core Viewpoint - American Shared Hospital Services (AMS) has received a Certificate of Need (CON) to establish a Proton Beam Radiation Treatment (PBRT) facility in Johnston, Rhode Island, enhancing local cancer care capabilities and reducing the need for patients to travel to other states for treatment [1][2][3]. Company Developments - AMS's subsidiary, ASHS - Rhode Island Proton Beam Radiation Therapy, LLC, will construct and operate the PBRT system, expected to treat its first patients within 36 to 39 months [3]. - The new facility will complement AMS's existing three photon radiation therapy facilities in Rhode Island, where AMS holds a 60% majority ownership [4]. - In April 2024, AMS's subsidiary received another CON for Bristol Radiation Therapy, LLC, further expanding its network of radiation therapy facilities in the region [4]. Market Position and Growth Potential - The establishment of the PBRT facility represents a significant growth opportunity for AMS, as there are currently only two operational Proton Beam Radiation Therapy Systems in the Northeast [5]. - The facility's strategic location between New York City and Boston is expected to improve access to advanced cancer treatment technologies for patients in the Northeast [5]. - AMS has recently strengthened its senior management team with experienced executives to support the development and operation of radiation therapy facilities [5]. Company Background - AMS has been operational for 40 years and has been publicly traded since 1984, providing financial and technological solutions to cancer treatment centers and hospitals globally [5]. - The company collaborates with major global Original Equipment Manufacturers (OEMs) to offer a range of radiation therapy technologies, including Proton Beam Radiation Therapy Systems and Gamma Knife products [5]. - AMS's strategic initiative to acquire majority equity interests in Rhode Island radiation therapy facilities marks a shift from being a technology supplier to a direct provider of cancer care [5].