American Shared Hospital Services Pays Tribute to Ernest A. Bates, M.D., Founder and Former Chairman and CEO

Dr. Bates, Pioneering Neurosurgeon and Philanthropist, passed on March 19, 2024

SAN FRANCISCO, March 26, 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 announced that Company Founder, former Chairman and Chief Executive Officer, and Board Director, Ernest A. Bates, M.D, passed away on Tuesday, March 19^th at the age of 87.

Dr. Ernest Bates was a highly respected board-certified neurosurgeon, entrepreneur, and philanthropist. Regarded as a pioneer in his field for bringing “state-of-the-art medical equipment into the mainstream”, he was considered by many to be a trailblazer and champion of equitable medical care for those in underserved communities.

Ray Stachowiak, Executive Chairman of American Shared Hospital Services, remembers Dr. Bates fondly, stating, “We want to thank him for his profound contributions to the Company and to many people, including me, personally, for the past 35 years. Dr. Bates was a true visionary, and we will be forever grateful for his contributions which have been woven into the fabric of our Company.”

Founding the Company in 1977 as a direct response to an observed need for more accessibility of costly, state-of-the-art medical equipment by non-academic hospitals, Dr. Bates created financing options that made accessibility possible. He was among the first to mobilize CT and MRI scanners and installed one of the first Gamma Knife systems in the U.S. in 1991 as well as one of the first single-room proton beam radiation therapy systems. When implemented, these systems were all in the early stages of widespread adoption but notably, Dr. Bates had the vision and foresight that these technologies would have a long-term impact on healthcare, and he was correct. He expanded accessibility to centers throughout the U.S. and in South America, building a solid foundation for American Shared Hospital Services’ future success.

In addition to his pioneering efforts in healthcare, Dr. Bates was also a pioneer in breaking new ground for the Black community. He was the first African American graduate from Johns Hopkins University School of Arts and Sciences in 1958. He earned his MD degree from the University of Rochester School of Medicine and Dentistry in 1962; completed his internship at Albert Einstein College of Medicine, Bronx Municipal Hospital Center; and then entered the U.S. Air Force, serving for three years in Japan. He completed his neurosurgery residency at the University California, San Francisco (UCSF) Medical Center and became one of the nation’s first Black board-certified neurosurgeons in 1973.