AMERICAN SHARED HOSPITAL SERVICES (AMS): M&A transaction — AMS closes $2.85M acquisition of 60% stake in three RI cancer centers; adds $9-10M annual revenue

AMERICAN SHARED HOSPITAL SERVICES

Acquired 60% equity in Southern New England Regional Cancer Center and Roger Williams Radiation Therapy from GenesisCare USA bankruptcy estate.
Purchase price $2.85M cash; $285K earnest deposit applied at closing; additional $175K paid for CT scanner on May 14.
Transaction expected to add $9-10M in annual revenue with positive net income contribution.
Projected revenue backlog more than doubled to over $210M from $106M in 2021.
Centers operate three LINAC-equipped radiation therapy facilities in Woonsocket, Warwick, and Providence, RI.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES completed an acquisition involving GenesisCare USA, Inc. for $2,850,000 payable in cash (closed 2024-05-07).

Action: acquisition
Counterparty: GenesisCare USA, Inc.
Consideration: $2,850,000 payable in cash
Closing: 2024-05-07

Exact text from the filing

Report on Form 8-K filed with the SEC on November 16, 2023, and in subsequent reports filed by the Company with the SEC. The purchase price for the Transaction consisted of $2,850,000 payable in cash. The $285,000 earnest payment deposit previously deposited with a third party escrow agent by the Company was applied to the purchase price at closing. Pursuant

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES amended Fourth Amendment to Investment Agreement with GenesisCare USA, Inc. (effective 2024-05-07).

Action: amendment
Agreement: asset purchase
Counterparty: GenesisCare USA, Inc.
Effective: 2024-05-07

Exact text from the filing

On May 7, 2024, American Shared Hospital Services (the “Company”) entered into a Fourth Amendment to Investment Agreement (the “Fourth Amendment”) with GenesisCare USA, Inc. (the “Seller”) and GenesisCare USA Holdings, Inc. (“Holdings”), amending that certain Investment Purchase Agreement dated November 10, 2023 by and among the Company, Seller and Holdings (the “IPA”).

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5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

AMERICAN SHARED HOSPITAL SERVICES filing history →

Source: SEC EDGAR

accession 0001437749-24-016299

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