AMERICAN SHARED HOSPITAL SERVICES

American Shared Hospital Services ( ASHS and, together with its subsidiaries, the Company ) is a leading provider of turn-key technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services. The main drivers of the Company’s revenue are numbers of sites, procedure volume, and reimbursement. The Company delivers radiation therapy through medical equipment leasing and direct patient services, its two reportable segments. The medical equipment leasing segment, which we also refer to as the Company’s leasing segment, operates by fee-per-use contracts or revenue sharing contracts where the Company shares in the revenue and operating costs of the equipment. The Company’s facilities in Rhode Island, Peru, Ecuador, and Mexico are considered direct patient services, where a contract exists between the Company’s facilities and the individual treated at the facility. The Company currently provides Gamma Knife services through its 81% indirect interest in GK Financing, LLC, a California limited liability company ( GKF ) to seven medical centers in eight states in the United States, and owns and operates two Gamma Knife units at stand-alone facilities in Lima, Peru and Guayaquil, Ecuador. The remaining 19% of GKF is owned by GKV Investments, Inc. ( GKV Investments ), a wholly-owned U.S. subsidiary of Elekta AG, a Swedish company ( Elekta ).