AMS Secures Certificate of Need for Advanced Cancer Treatment
American Shared Hospital Services (NYSE American: AMS), an established leader in the technology sector for cancer treatment, recently announced an exciting development in the field of radiation therapy. The company has officially received a Certificate of Need (CON) for its subsidiary, ASHS – Rhode Island Proton Beam Radiation Therapy, LLC, enabling it to acquire necessary technology to develop a state-of-the-art freestanding Proton Beam Radiation Treatment (PBRT) facility.
Stepping Forward for Cancer Care
With this new project, AMS aims to revolutionize cancer treatment access in the Rhode Island region. The positive recommendation from the Health Service Council and the subsequent approval by the Director of the Rhode Island Department of Health mark major strides in expanding local healthcare solutions. This facility, strategically located in Johnston, will cater to patients needing proton therapy, which is known for its precision and effectiveness in targeting tumors.
Enhancing Community Support
Ray Stachowiak, the Executive Chairman and CEO of AMS, expressed gratitude for the CON, highlighting the significant impact it will have on the Rhode Island cancer care community. He pointed out that upcoming advancements will allow local physicians to provide sophisticated radiation technologies to their patients, eliminating the need for travel to distant facilities in Boston or New York.
Future Prospects and Local Expansion
The planned facility will be a valuable addition to AMS’s portfolio, which already includes significant stakes in three photon radiation therapy facilities in the region. In an initiative critical to modernizing cancer care, AMS also received a CON for its subsidiary, ASHS - Bristol Radiation Therapy, LLC, which addresses the lack of radiation services in the underserved East Bay area.
Greg Mercurio, Senior Vice President of Radiation Oncology for AMS and a notable advocate for cancer care accessibility, emphasized that introducing proton therapy will not only be a technological upgrade but also a crucial investment for local cancer care enhancement in Rhode Island.
Broadening Access Across the Northeast
The implementation of this facility is expected to provide a strategic location between existing proton therapy centers in the Northeast, thereby improving access to innovative cancer treatment technologies. Currently, the presence of only two PBRT systems in operation within the Northeast underscores the potential growth for AMS in this vital healthcare sector.
Leadership and Future Developments
Stachowiak mentioned that AMS is actively strengthening its leadership team by adding executives with extensive experience in developing, acquiring, and operating free-standing radiation therapy facilities. This direction aims to ensure successful collaborations with health systems to enhance oncology services and expand patient care options.
AMS, which has operated for four decades and been publicly traded since 1984, is dedicated to providing pioneering financial solutions and technology for cancer treatment centers worldwide. The company collaborates closely with prominent global Original Equipment Manufacturers (OEMs), ensuring a vendor-neutral approach, which empowers them to support various radiation therapy technologies. This evolution from solely supplying technology to health systems to directly delivering cancer care signifies a major milestone for AMS.
Frequently Asked Questions
What is the Certificate of Need (CON) for AMS?
The CON is an official approval that allows AMS to acquire technology and construct a Proton Beam Radiation Therapy facility, enhancing cancer treatment accessibility.
Where will the new Proton Beam Therapy facility be located?
The facility will be based in Johnston, Rhode Island, strategically positioned to serve local patients effectively.
How does Proton Beam Therapy differ from traditional radiation treatment?
Proton Beam Therapy employs protons instead of X-rays to treat cancer, allowing for more targeted treatment with minimal damage to surrounding tissues.
What are the expected benefits of the new facility for Rhode Island residents?
Residents will have greater access to advanced cancer treatments without needing to travel long distances, thereby improving overall care continuity.
What is AMS's overall mission?
The mission of AMS is to provide innovative technological solutions and financial support to improve cancer treatment capabilities in hospitals and treatment centers globally.
