ASHS focuses funds on proton beam radiation therapy

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American Shared Hospital Services (ASHS), a radiosurgical and radiation technology therapy service provider will suspend its cash dividend to focus on proton beam radiation therapy (PBRT) device development.

ASHS recently increased its equity interest in Still River Systems of Littleton, Mass., the Clinatron 250 PBRT device developer, with the purchase of an additional $617,000 of Still River convertible preferred stock.

According to Ernest Bates, MD, chairman and CEO of ASHS, “this step will increase the financial resources we can put to work to take full advantage of the many attractive investment opportunities in PBRT that have become available to us."

The Clinatron 250 PBRT system has yet to receive approval from the U.S. FDA.