PeaceHealth Sacred Heart Medical Center at RiverBend Announces Upgrade to Cancer Treatment Technology

SPRINGFIELD, Ore. — PeaceHealth Sacred Heart Medical Center at RiverBend will be upgrading its radiation oncology services later this year with the latest Gamma Knife® technology to better treat cancer patients.

The hospital will replace its existing Gamma Knife® Perfexion™ system with Esprit, the newest Gamma Knife® radiosurgery system from Elekta. The system is expected to be in place to serve patients by October 1.

Gamma Knife® radiosurgery is a gentler alternative to open surgery and conventional radiotherapy as it can target the smallest and most challenging intracranial tumors and lesions with minimal effect on healthy tissue. This vital precision safeguards motor, sensory and neurocognitive function to help protect the patient.

Esprit includes a variety of innovations in a single platform and offers clinicians superior visualization, and collaboration tools designed to meet the needs of changing environments. RiverBend will be the first hospital in Oregon to offer this advanced technology, which allows medical staff to more precisely target a wider array of brain abnormalities and minimize the risk of inadvertently damaging healthy cells. Patients will benefit from a more efficient and effective treatment without having to travel out of state. Esprit’s non-invasive technology also allows patients to resume their daily routines with little disruption.

Andrew Kokkino, MD, medical director of the Gamma Knife Center at PeaceHealth Sacred Heart Medical Center at RiverBend, said: “Our medical staff has been providing Gamma Knife® radiosurgery treatments with great success since adding it to the suite of treatments we offer to our patients. Upgrading our current system with Esprit gives us multiple clinical options. Now we can offer even more personalized and patient-friendly treatments. Patients can return home the same day and resume their normal activities shortly after. We are excited to continue our partnership with GK Financing and appreciate its support in bringing Esprit to our hospital.”

About PeaceHealth

PeaceHealth, based in Vancouver, Wash., is a non-profit Catholic health system offering care to communities in Washington, Oregon and Alaska. PeaceHealth has approximately 16,000 caregivers, more than 3,000 providers, more than 160 clinics and 9 medical centers serving both urban and rural communities throughout the Northwest. In 1890, the Sisters of St. Joseph of Peace founded what has become PeaceHealth. The Sisters shared expertise and transferred wisdom from one medical center to another, always finding the best way to serve the unmet need for healthcare in their communities. Today, PeaceHealth is the legacy of the founding Sisters and continues with a spirit of respect, stewardship, collaboration and social justice in fulfilling its Mission. Visit us online at peacehealth.org.

About GK Financing, LLC

GK Financing, LLC, a subsidiary of American Shared Hospital Services in partnership with Elekta, provides creative financial and turnkey technology solutions for the Gamma Knife system. GKF is the world leader in providing Gamma Knife radiosurgery equipment, a non‑invasive treatment for malignant and benign brain tumors, vascular malformations, and trigeminal neuralgia (facial pain). GKF offers creative payment models such as pay per treatment, payment on percentage of revenue collected, and even joint venture models. GKF provides full project management for the entire project with no capital outlay in a risk sharing model. For more information, please visit: www.gkfinancingllc.com.

About American Shared Hospital Services (NYSE American: AMS)

American Shared Hospital Services (ASHS) is a leading provider of creative financial and turnkey solutions to cancer treatment centers, hospitals, and large cancer networks worldwide. The Company works closely with all major global Original Equipment Manufacturers (OEMs) that provide leading edge clinical treatment systems and software to treat cancer using Radiation Therapy and Radiosurgery. The Company is vendor agnostic and provides financial support for a wide range of products including MR Guided Radiation Therapy Linacs, Advanced Digital Linear Accelerators, Proton Beam Therapy Systems, Brachytherapy systems and suites, and through the Company’s subsidiary, GK Financing LLC., the Leksell Gamma Knife product and services. For more information, please visit www.ashs.com .

Safe Harbor Statement
This press release may be deemed to contain certain forward-looking statements with respect to the financial condition, results of operations and future plans of American Shared Hospital Services including statements regarding the expected continued growth of the Company and the expansion of the Company’s Gamma Knife, proton therapy and MR/LINAC business, which involve risks and uncertainties including, but not limited to, the risks of economic and market conditions, the risks of variability of financial results between quarters, the risks of the Gamma Knife and proton therapy businesses, the risks of changes to CMS reimbursement rates or reimbursement methodology, the risks of the timing, financing, and operations of the Company’s Gamma Knife, proton therapy, and MR/LINAC businesses, the risk of expanding within or into new markets, the risk that the integration or continued operation of acquired businesses could adversely affect financial results and the risk that current and future acquisitions may negatively affect the Company’s financial position. Further information on potential factors that could affect the financial condition, results of operations and future plans of American Shared Hospital Services is included in the filings of the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and the definitive Proxy Statement for the Annual Meeting of Shareholders that was held on June 20, 2023.

Contacts:

GK Financing, LLC
Ranjit Pradhan
VP Of Marketing
P: (415) 788-5300 Ext 4021
rpradhan@ashs.com

Jim Murez
PeaceHealth Communications
jmurez@peacehealth.org

PCG Advisory Group, Investor Relations
Kirin Smith
646-823-8656
kirin@pcgadvisory.com