American Shared Hospital Services Reports 2025 Results, Extends Proton Therapy Lease with Orlando Health

American Shared Hospital Services (NYSE American: AMS), a leading provider of advanced radiation therapy cancer treatment services, has announced its financial results for the fourth quarter and full year 2025, revealing a year of strategic transition and operational expansion. The company reported total revenue of $28.1 million for 2025, a slight decrease from $28.3 million in 2024, but highlighted significant growth in its direct patient care services segment, which increased by 23.7% to $15.5 million. This growth was driven by the successful integration of three radiation therapy centers in Rhode Island and the first full year of operations at a new center in Puebla, Mexico. Key players include CEO Gary Delanois, who emphasized the company's strategic shift toward direct patient care, Executive Chairman Ray Stachowiak, who discussed expansion plans in Rhode Island, and CFO Scott Frech, who addressed financial performance and balance sheet optimization. The company also announced a major seven-year lease extension with Orlando Health for its Proton Beam Radiation Therapy System, reinforcing a partnership that has lasted over two decades and underscoring the long-term nature of the company's relationships in advancing access to cutting-edge cancer care.

Financially, the company faced challenges in its medical equipment leasing segment, with revenue declining due to the expiration of three Gamma Knife agreements and lower Proton Beam Radiation Therapy (PBRT) volumes, leading to a net loss of $1.6 million for the year compared to net income of $2.2 million in 2024. However, there were positive indicators, including a 35.4% year-over-year increase in LINAC revenue to $11.5 million and improved same-center Gamma Knife procedure volumes following equipment upgrades. The company completed the upgrade of its Gamma Knife unit in Lima, Peru to the Esprit platform, expanding treatment capabilities. Operational highlights include strong LINAC treatment volumes, supported by the Rhode Island and Mexico centers, and the company ended the quarter with eight domestic medical equipment leasing agreements and six direct patient care service centers across the United States and Latin America. The press release was distributed via PRISM MediaWire, a trusted press release distribution service, and includes details about an upcoming conference call to discuss the results.

Looking ahead, American Shared Hospital Services remains focused on optimizing operations at existing centers, expanding patient access to advanced radiation therapy, and pursuing strategic opportunities. The company has Certificate of Need approvals for new centers in Bristol and Johnston, Rhode Island, which are expected to further expand its footprint. Despite a decrease in cash to $3.7 million and challenges with financial covenants under its credit facility, the company is engaged in constructive discussions with its lender and emphasizes its shareholders' equity of $3.66 per share. The announcement underscores the company's commitment to strengthening partnerships, expanding clinical capacity, and driving long-term growth in both equipment leasing and direct patient care services, positioning it to deliver value to patients, partners, and shareholders in 2026 and beyond.