American Shared Hospital Services completed the acquisition of 60% majority equity interest in the Southern New England Regional Cancer Center, LLC and Roger Williams Radiation Therapy, LLC from GenesisCare USA, Inc.
May 06, 2024
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American Shared Hospital Services (NYSEAM:AMS) agreed to acquire a 60% majority equity interest in the Southern New England Regional Cancer Center, LLC and Roger Williams Radiation Therapy, LLC from GenesisCare USA, Inc. for $2.9 million on November 10, 2023. ProspectCharterCARE, LLC d/b/a Roger Williams Medical Center and the Care New England Health System each own 20% of the Target Companies. The closing of the transaction is subject to certain events and conditions being met including (i) bankruptcy court approval, (ii) the Seller and American Shared Hospital Services entering into a consent agreement with the Rhode Island Department of Health and (iii) other customary closing conditions. American Shared Hospital Services anticipates that these conditions will be met in the next 60 days. The Company anticipates that the closing conditions will be met in April 2024.
American Shared Hospital Services (NYSEAM:AMS) completed the acquisition of 60% majority equity interest in the Southern New England Regional Cancer Center, LLC and Roger Williams Radiation Therapy, LLC from GenesisCare USA, Inc. on May 7, 2024. These newly acquired Centers are part of the Seller?s and its affiliates? Chapter 11 bankruptcy process. The closing of the transaction was subject to certain events and conditions being met including (i) bankruptcy court approval, (ii) approval from the Rhode Island Department of health in accordance with the change in control of the majority member from GenesisCare to American Shared HospitalServices and (iii) other customary closing conditions.
American Shared Hospital Services is a provider of financial and turnkey solutions to cancer treatment centers, hospitals, and large cancer networks worldwide. Its products include MR Guided Radiation Therapy Linacs, Advanced Linear Accelerators, Proton Beam Therapy systems, Brachytherapy systems, and through its GK Financing partnership with Elekta, the Leksell Gamma Knife product and services. PBRT is an alternative to traditional external beam, photon-based radiation delivered by linear accelerators. PBRT treats prostate, brain, spine, head and neck, lung, breast, gastrointestinal tract and pediatric tumors. The Gamma Knife treats selected malignant and benign brain tumors, arteriovenous malformations, and functional disorders including trigeminal neuralgia (facial pain). It typically provides the equipment and planning, installation, reimbursement and marketing support services. It also operates three fully functional turn-key radiation therapy cancer centers in Rhode Island.
American Shared Hospital Services completed the acquisition of 60% majority equity interest in the Southern New England Regional Cancer Center, LLC and Roger Williams Radiation Therapy, LLC from GenesisCare USA, Inc.
AMERICAN SHARED HOSPITAL SERVICES 
