Profile: American Shared Hospital Services (AMS)

American Shared Hospital Services (ASHS), incorporated in 1983, provides Gamma Knife stereotactic radiosurgery equipment and radiation therapy and related equipment. The Company provides Gamma Knife services through its 81% indirect interest in GK Financing, LLC (GKF). The remaining 19% of GKF is owned by GKV Investments, Inc., a wholly owned subsidiary of Elekta AG (Elekta), a manufacturer of the Leksell Gamma Knifea (Gamma Knife). GKF is a provider of alternative financing services for Elekta Gamma Knife units. During the year ended December 31, 2008, Gamma Knife revenue accounted for 93% of the Company’s revenue. The Company provides Image Guided Radiation Therapy (IGRT) and related equipment to one medical center in Massachusetts, which accounted for approximately 7% of the Company’s revenue during 2008.

The Gamma Knife delivers the concentrated dose of gamma rays from Cobalt-60 sources housed in the Gamma Knife. The Cobalt-60 sources converge at the target area and deliver a dose that is high enough to destroy the diseased tissue without damaging surrounding healthy tissue. The Gamma Knife treats selected malignant and benign brain tumors, trigeminal neuralgia (facial pain) and arteriovenous malformations. The Company, as of March 6, 2009, had 19 Gamma Knife units operating at 19 sites in the United States. During 2008, the Company’s Gamma Knife units performed approximately 1,900 procedures for a cumulative total of approximately 20,800 procedures. The Company’s radiation therapy business consists of one IGRT system. IGRT technology integrates imaging and detection components into a linear accelerator. IGRT captures computed tomography (CT), fluoroscopic and x-ray images on a daily basis, creating three-dimensional (3D) images.

The Company competes with Elekta.