American Shared Hospital Services Strengthens Senior Management Structure

SAN FRANCISCO, April 18, 2024 (GLOBE NEWSWIRE) -- American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services, today announces changes to strengthen its senior management structure.

AMS’ current Executive Chairman, Ray Stachowiak, will take on the role of Executive Chairman and Chief Executive Officer, and the Company’s President, Craig Tagawa, will become President and Chief Operating Officer, effective immediately. Bob Hiatt will continue to serve as the Company’s Chief Financial Officer. Ernie Bates will continue in the role of Vice President of International Sales and Marketing, and Curtis Ellis will continue to serve as Director of Sales, Western Region, USA.

In anticipation of AMS’ pending acquisition of a 60 percent interest in three radiation centers in Rhode Island, the Company is excited to announce the appointment of Greg Mercurio as Senior VP of Radiation Oncology. Mr. Mercurio brings deep experience in the radiation oncology field to the role, including 20 years in Certificate of Need attainment for the development and operation of radiation therapy facilities. He has built a strong network of relationships with physicians, hospitals and technology manufacturers for the mobilization and shared use of high tech medical technology.

Mr. Mercurio served a nationally renowned provider of radiation therapy for 15 years, strategizing the attainment of Certificates of Need to establish five radiation therapy facilities in Rhode Island in joint venture partnership with five community hospitals, which treat over 1,000 patients per year with radiation therapy and generate $10M a year in revenue. In addition, he has served as a radiation business consultant to major healthcare systems across the country, freestanding radiation oncology providers, and manufacturers of radiation therapy products.

The Company is also very pleased to announce that Ranjit Pradhan will be promoted from Head of Marketing and Customer Advocacy to Vice President of Customer Advocacy and Global Marketing. Mr. Pradhan brings 30 years of experience in healthcare to the role, having served in product management, marketing, technology and general management positions at Fortune 100 companies and global leaders including GE, Abbott, Elekta, Sysmex and Philips.