GK Financing LLC, a Subsidiary of American Shared Hospital Services, Announces Extension of Agreement with Methodist Hospital Merrillville, Indiana

Extended 8-year Agreement to Upgrade Gamma Knife Perfexion to Gamma Knife Esprit

SAN FRANCISCO, CA, Aug. 24, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – GK Financing LLC (GKF), a subsidiary of American Shared Hospital Services (NYSE American: AMS), a leading provider of creative financial and turnkey technology solutions for advanced radiosurgery and radiation oncology services, announced today that it has extended its current agreement with Methodist Hospital in Merrillville, Indiana. The new agreement is for an additional eight (8) years, through 2037, and includes upgrading its current Gamma Knife Perfexion system to the Gamma Knife Esprit, Elekta’s newest Gamma Knife radiosurgery system.  GKF expects to complete the installation in October 2023.

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 mind and the person.  After locating tumors, specially trained neurosurgeons focus beams of radiation from the Gamma Knife Esprit directly to the affected area for non-invasive treatment, with minimal effect on healthy tissue. Patients can return home the same day and resume their normal activities within days.

Esprit includes a variety of innovations that are now available in a single platform and offers clinicians several new clinical features not available in the Perfexion. Esprit offers frameless (masked-based immobilization) or frame-based workflows with the new Vantage Headframe that provides superior visualization, and Esprit has advanced on-board CT Imaging allowing for same day imaging and treatment. The Esprit is provided with the Lightening Planning system offering faster treatment planning and  remote treatment planning that increases and improves workflow efficiency utilizing remote accessibility and collaboration tools designed to meet the needs of changing environments.

Peter Gaccione, CEO of American Shared Hospital Services and President of GK Financing (GKF), commented, “Methodist Hospital has provided Gamma Knife radiosurgery for 20 years of which GKF and Methodist Hospital have been clinical partners since 2019 and we have seen their Gamma Knife program grow and expand over that time.  GKF is extremely proud to be part of supporting the Neurosurgeons and Radiation Oncology teams as they upgrade to the latest Gamma Knife Esprit which will allow them to offer greater clinical treatments to patients.  In fact, this will be the fourth (4^th) Esprit installed in the USA, putting Methodist Hospital of Indiana in the forefront of treating cancer patients with the latest non-invasive radiosurgery technology!”