American Shared Hospital Services Announces the University Of Arkansas Gamma Knife Contract

Business Wire, Nov 5, 1998

SAN FRANCISCO--(BW HealthWire)--Nov. 5, 1998--American Shared Hospital Services (AMEX:AMS)(PCX:AMS) Thursday said that the University of Arkansas for Medical Sciences in Little Rock, Ark., has entered into a Gamma Knife services contract with GK Financing, LLC, a subsidiary of American Shared.

Ernest A. Bates, M.D., chairman and CEO of American Shared, said, "We are pleased that our arrangement with the University of Arkansas will bring Gamma Knife services to the people of Arkansas.

"Our partnership with the University of Arkansas will be our seventh with a teaching or teaching affiliated institution and our tenth contract overall. The center is scheduled to commence operations in the summer of 1999."

According to Harry Ward, M.D., Chancellor of the University of Arkansas for Medical Sciences, "We welcome this promising method of controlling tumors and treating vascular malformations.

"This will greatly enhance the Center of Excellence we have developed in neurosurgery/neurology. I am extremely pleased that we will be able to offer the unique technology provided by the Gamma Knife to our state and region."

The Gamma Knife is a stereotactic radiosurgical device manufactured by Elekta AB of Sweden (Stockholm Stock Exchange: "ETKA"). The Gamma Knife treats certain vascular malformations and brain tumors without invasive surgery.

It uses three dimensional computer modeling to target a high dose of radiation at abnormal tissue. More than 90,000 patients worldwide already have been treated with Gamma Knife units.

American Shared Hospital Services is a diversified medical services company, with interests in mobile and shared diagnostic imaging, insurance services and (through its 81% equity interest in GK Financing, LLC) radiosurgery services. Headquarters are in San Francisco.