American Shared Hospital Services Enters Into Agreement to Acquire 60% Majority Interest in Three Radiation Therapy Cancer Centers in Rhode Island
SAN FRANCISCO, CA, Nov. 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Shared Hospital Services (NYSE American: AMS) (“ASHS” or the "Company"), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy cancer treatment systems and services, today announced that it has entered into an Investment Purchase Agreement (the “IPA”) to purchase a 60% majority equity interest in the Southern New England Regional Cancer Center, LLC and Roger Williams Radiation Therapy, LLC, both Rhode Island limited liability companies (collectively, the “Target Companies”), as well as certain payor contracts, from GenesisCare USA, Inc., a Florida corporation (the “Seller”), for a purchase price of $2.85 million. ProspectCharterCARE, LLC d/b/a Roger Williams Medical Center and the Care New England (CNE) Health System each own 20% of the Target Companies.
- The Target Companies operate three fully functional turn-key radiation therapy cancer centers in Rhode Island, and all three sites are equipped with state-of-the-art cancer treatment technology using Linear Accelerators (LINACs) and comprehensive treatment planning software.
- The centers are all located on or adjacent to hospital campuses and include the Southern New England Regional Cancer Centers d/b/a Maddock Radiation Therapy in Warwick, RI, and d/b/a Landmark Radiation Therapy in Woonsocket, RI.
- The third facility is the Roger Williams Cancer Center d/b/a Roger Williams Radiation Therapy in Providence, RI.
- These patients would have had to interrupt their life-saving treatment and attempt to seek radiation therapy elsewhere.