American Shared Hospital Services Announces Appointment of Raymond C. Stachowiak as CEO and Other Management Realignments
September 16 2020 - 8:00AM
via NEWMEDIAWIRE -- American Shared Hospital Services (NYSE
American: AMS) (the "Company"), a leading provider of turnkey
technology solutions for advanced radiosurgical and radiation
therapy services, today announced that the Board of Directors has
appointed Raymond C. Stachowiak as the Company’s Chief Executive
Officer, effective October 1, 2020. Mr. Stachowiak previously
served as the Company’s interim President and Chief Executive
Officer and has been a member of the Board of Directors since 2009.
The Board of Directors also announced the
following realignment of management duties, effective October 1,
2020.
- Craig K. Tagawa will assume the title of President, in addition
to his current positions as Chief Operating and Financial Officer
and Assistant Secretary.
- Ernest R. Bates will be promoted to Senior Vice President and
will lead International Operations in addition to his current Sales
and Business Development duties.
- Alexis Wallace, currently the Company’s Controller, will become
Chief Accounting Officer.
Ernest A. Bates, M.D., founder and Executive
Chairman of the Board of Directors, commented, “On behalf of the
Board of Directors we welcome Ray as the Company’s CEO and look
forward to his further contributions in this important role. Having
worked alongside Ray on the Board since 2009, the Directors are
confident in his abilities to expand AMS’ opportunities and future
growth. We believe that he has a great team in place to
assist in executing his strategic plan, and the team’s new titles
and responsibilities reflect that.”
About American Shared Hospital Services (NYSE American:
AMS)
American Shared Hospital Services provides
turnkey technology solutions for advanced radiosurgical and
radiation therapy services. AMS is a world leader in providing
Gamma Knife radiosurgery equipment, a non-invasive treatment for
malignant and benign brain tumors, vascular malformations, and
trigeminal neuralgia (facial pain). The Company also offers
proton therapy, and the latest IGRT, IMRT and MR/LINAC systems. For
more information, please visit: www.ashs.com.
Safe Harbor Statement
This press release may be deemed to contain
certain forward-looking statements with respect to the financial
condition, results of operations and future plans of American
Shared Hospital Services (including statements regarding the
expected continued growth of the Company and the expansion of the
Company’s Gamma Knife, proton therapy and MR/LINAC business, which
involve risks and uncertainties including, but not limited to, the
risks of economic and market conditions, the risks of variability
of financial results between quarters, the risks of the Gamma Knife
and proton therapy businesses, the risks of developing The
Operating Room for the 21st Century program, the risks of
changes to CMS reimbursement rates or reimbursement methodology,
the risks of the timing, financing, and operations of the Company’s
Gamma Knife, proton therapy, and MR/LINAC businesses, the risks of
the COVID-19 pandemic and its effect on the Company’s business
operations and financial condition, the risk of expanding within or
into new markets, the risk that the integration or continued
operation of acquired businesses could adversely affect financial
results and the risk that current and future acquisitions may
negatively affect the Company’s financial position. Further
information on potential factors that could affect the financial
condition, results of operations and future plans of American
Shared Hospital Services is included in the filings of the Company
with the Securities and Exchange Commission, including the
Company's Annual Report on Form 10-K for the year ended December
31, 2019, its Quarterly Reports on Form 10-Q for the three months
ended March 31, 2020 and June 30, 2020, and the definitive Proxy
Statement for the Annual Meeting of Shareholders that was held on
June 26, 2020.
Contacts:
American Shared Hospital Services Ray Stachowiak Chief Executive
Officer rstachowiak@ashs.com
Investor Relations PCG Advisory Stephanie Prince P: (646)
762-4518 sprince@pcgadvisory.com
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