Hospital services

American Shared Hospital Services Announces Changes to its Board of Directors

Ernest A. Bates, MD, founder and former CEO of AMS, becomes consultant

SAN FRANCISCO, CA, December 30, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – American Shared Hospital Services (NYSE American: AMS) (the “Company”), a leading provider of turnkey technology solutions for stereotaxic radiosurgery and advanced radiation therapy equipment and services, announced today changes in its board of directors (the “Board”). The changes, detailed below, will result in a total of five Board members, one less than currently.

  • The board elected two new directors, Kathleen Miles and Vicki L. Wilson, effective December 28, 2021.

  • Sandra AJ Lawrence resigned from the board effective December 24, 2021.

  • Ernest A. Bates, MD and David L. Larson, MD resigned from the Board of Directors effective December 28, 2021. Dr. Bates and Dr. Larson will both become consultants of the Company.

Ray Stachowiak, President and CEO, said, “Welcome to our new board members, Vicki Wilson and Kathleen Miles. I look forward to working with them. I would also like to thank Dr Bates, Dr Larson and Sandra Lawrence for their many contributions to AMS. Special thanks to Dr. Bates, who was the founder and visionary of American Shared Hospital Services and successfully led the company for many years. We are pleased to continue to benefit from his wise guidance in his new role as consultant, as well as that of David Larson, who is a long-time member of the Board of Directors.

Kathleen Miles is currently Chief Public Finance Lawyer of The PNC Financial Services Group, Inc. Ms. Miles has over 20 years of public finance experience as a lawyer and regulator. She received a Bachelor of Arts in Government from Radcliffe College, Harvard University and a Juris Doctor from the University of Virginia Law School. Ms. Miles will be a member of the Company’s audit, compensation and nominating and corporate governance committees.

Vicki L. Wilson is currently Deputy Director of Finance and Administration and Director of Finance for the Illinois State Department of Public Health. Ms. Wilson has held a number of finance, risk management and accounting positions in the public and private sectors, including with organizations and entities in the health sector. She received a Bachelor of Arts in Mathematics from Wesleyan University, an MBA from Harvard Business School, and a Masters in Public Health and Health Care Administration from Yale University. Ms. Wilson will serve as Chair of the Company’s Audit Committee and will be a member of the Compensation, Nomination and Corporate Governance Committees.

About US Shared Hospital Services (US NYSE: AMS)

American Shared Hospital Services is a leading provider of turnkey technology solutions for stereotaxic radiosurgery and advanced radiation therapy equipment and services. AMS is a global leader in providing Gamma Knife radiosurgery equipment, a non-invasive treatment for malignant and benign brain tumors, vascular malformations and trigeminal neuralgia (facial pain). The Company also offers proton therapy and the latest IGRT, IMRT and MR / LINAC systems. For more information, please visit: www.ashs.com.

Safe Harbor Declaration

This press release may be deemed to contain certain forward-looking statements regarding 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 Gamma Company Knife, proton therapy and MR / LINAC activities, which involve risks and uncertainties, including, but not limited to, risks of economic and market conditions, risks of variability in financial results between quarters, risks of Gamma Knife and proton therapy activities, risks of development of The Operating Room for the 21st Century program, risks of changes in CMS reimbursement rates or reimbursement methodology, risks of timing, funding and operations of the Company’s Gamma Knife, proton therapy and MR / LINAC activities, the risks of the COVID-19 pandemic and its effects on the business activities and financial position of the Company, the risk of expansion into or into new markets, the risk that the integration or continued operation of the acquired businesses could adversely affect the financial results and risk that current and future acquisitions could adversely 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 documents filed by the Company with the Securities and Exchange Commission, including the Company’s annual report on form 10-K for the fiscal year ended December 31, 2020, its quarterly report on form 10-Q for the three months ended March 31, 2021, June 30, 2021 and September 30, 2021, and the definitive proxy statement for the annual meeting of shareholders held on June 25, 2021.

Contacts:

US shared hospital services
Ray stachowiak
Chief executive officer
rstachowiak@ashs.com

Investor Relations
GPC Council
Stephanie Prince
Phone. : (646) 863-6341
sprince@pcgadvisory.com