American Shared Hospital Services Closes Sale of Its Gamma Knife Business in Turkey

AMERICAN SHARED HOSPITAL SERVICES (NYSE MKT: AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that it has closed the sale of its Gamma Knife and Image Guided Radiation Therapy (IGRT) services business in Turkey to Euromedic Cancer Treatment Centers BV (Euromedic). Payment to AMS consisted of cash, which will be used primarily to pay down debt associated with the Turkey operations, and an earn-out based on future revenue from the two Gamma Knife units and one IGRT unit AMS operated in Istanbul and Adana, Turkey.

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