M&A - AMERICAN SHARED HOSPITAL SERVICES

Form Type: 10-K

Filing Date: 2025-04-04

Corporate Action: Acquisition

Type: New

Accession Number: 000143774925011052

Filing Summary: American Shared Hospital Services (ASHS) is a provider of advanced radiation therapy and stereotactic radiosurgery technologies. The company acquired a 60% interest in three linear accelerator facilities in Rhode Island and began operating a standalone facility in Puebla, Mexico in July 2024. This acquisition diversifies their revenue sources through both medical equipment leasing and direct patient services. ASHS continues to operate Gamma Knife services through a majority interest in GK Financing, LLC, which serves multiple states. ASHS also formed joint ventures to expand services to treat cancer patients in Puebla and Guadalajara, indicating a strategic approach to enhance their footprint in the radiation therapy market. The RI Acquisition closed on May 7, 2024, contributing to its operations in Rhode Island. Moreover, the company plans to upgrade Gamma Knife systems in a new joint venture, expected to provide services starting in mid to late 2025, illustrating ASHS's ongoing commitment to growth in medical technology.

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Form Type: NT 10-K

Filing Date: 2025-03-31

Corporate Action: Acquisition

Type: New

Accession Number: 000143774925010129

Filing Summary: American Shared Hospital Services is filing a Notification of Late Filing on Form 12b-25 regarding its Annual Report on Form 10-K for the fiscal year ending December 31, 2024. The delay is attributed to the acquisition of 60% equity interests in Southern New England Regional Cancer Center, LLC and Roger Williams Radiation Therapy, LLC which occurred on May 7, 2024, out of bankruptcy. This acquisition has resulted in challenges due to unreliable financial information from the acquired entities following their bankruptcy, necessitating more time for analysis and integration. Additionally, the recent appointment of a new Chief Financial Officer has further delayed the completion of financial statements as the new CFO needs to ensure the accuracy and completeness of the disclosures. The Company anticipates filing the Annual Report within the extension period granted under Rule 12b-25. There is an expectation of significant net income growth for fiscal 2024 compared to fiscal 2023, driven mainly by increased revenue from the RI Acquisition, though offset by higher costs and impairments.

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