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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-06-007085.txt : 20060411
<SEC-HEADER>0000950134-06-007085.hdr.sgml : 20060411
<ACCEPTANCE-DATETIME>20060411132845
ACCESSION NUMBER:		0000950134-06-007085
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060411
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060411
DATE AS OF CHANGE:		20060411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SHARED HOSPITAL SERVICES
		CENTRAL INDEX KEY:			0000744825
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MEDICAL LABORATORIES [8071]
		IRS NUMBER:				942918118
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08789
		FILM NUMBER:		06753158

	BUSINESS ADDRESS:	
		STREET 1:		FOUR EMBARCADERO CENTER
		STREET 2:		SUITE 3700
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111-4107
		BUSINESS PHONE:		415-788-5300

	MAIL ADDRESS:	
		STREET 1:		FOUR EMBARCADERO CENTER
		STREET 2:		SUITE 3700
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111-4107
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f19499e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>e8vk</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Date of Report (Date of earliest reported) <B>April&nbsp;11, 2006</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>AMERICAN SHARED HOSPITAL SERVICES</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its chapter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>California</B><BR>
(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>001-8789</B><BR>
(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>94-2918118</B><BR>
(IRS Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Four Embarcadero Center, Suite&nbsp;3700, San Francisco, CA</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>94111</B><BR>
(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Registrant&#146;s telephone number, including area code <B>415-788-5300</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Former name or former address, if changed since last report)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>





<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER EVENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On April&nbsp;11, 2006, the Company issued a press release announcing its $2&nbsp;million equity investment
in Still River Systems, the developer of a proton beam radiation therapy device. The full text of
the press release is attached hereto as Exhibit&nbsp;99.1. The Company does not intend for this exhibit
to be incorporated by reference into future filings under the Securities Exchange Act of 1934.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL STATEMENTS AND EXHIBITS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B>Not applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B>Not applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B>Not applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B>Exhibits
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibit is filed as part of this report:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B>Press Release, dated 4/11/06
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date: April 11, 2006                     &nbsp;</TD>
    <TD colspan="3" align="left">American Shared Hospital Services<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Ernest A. Bates, M.D.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Ernest A. Bates, M.D.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chairman and CEO&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f19499exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMERICAN SHARED HOSPITAL SERVICES<BR>
ANNOUNCES $2 MILLION EQUITY INVESTMENT IN DEVELOPER OF<BR>
PROTON BEAM RADIATION THERAPY DEVICE</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">AMS Also Purchases Option to Acquire Two Proton Beam Radiation Therapy Systems
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">San Francisco, CA, April&nbsp;11, 2006 &#151; <B>AMERICAN SHARED HOSPITAL SERVICES (AMEX,PCX:AMS)</B>, the leading
provider of Gamma Knife<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> radiosurgery services, announced today that it has invested $2&nbsp;million for
an equity interest in Still River Systems, Inc., a development-stage company based in Littleton,
Massachusetts, which in collaboration with scientists from MIT&#146;s Plasma Science and Fusion Center
is developing a medical device for the treatment of cancer patients using proton beam radiation
therapy (PBRT). AMS also purchased for $1&nbsp;million an option to acquire two Clinatron-250&#153; PBRT
systems from Still River Systems for anticipated delivery in 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Proton beam radiation therapy is widely regarded as the optimal radiation treatment for a wide
variety of cancers because of its significant clinical advantages compared to conventional high
energy X-rays,&#148; said Ernest A. Bates, Chairman and CEO of AMS. &#147;Whereas X-rays deposit dose all
along their path and continue to deposit dose beyond the depth of the tumor, PBRT deposits most of
its dose at a specific depth, determined by the initial energy of the beam, and then stops
entirely. This allows the physician to deposit far more dose in a tumor and far less in
surrounding normal tissue, limiting collateral damage and increasing tumor control rates.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Bates continued, &#147;Unfortunately, the PBRT systems available today cost at least $100&nbsp;million, and
consist of three or more dedicated treatment rooms. As a result, deployment of this
Medicare-approved treatment modality has so far been limited to only a handful of large
institutions. According to Still River Systems, the device it is developing is a
single-treatment-room PBRT system incorporating proprietary technology that it believes may
dramatically reduce the cost of implementing this exciting therapy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;More than half of all cancer patients now receive radiation therapy each year, and more than one
million new cancer patients are diagnosed annually in the United States. So we see tremendous
growth potential in Still River Systems&#146; cost-effective PBRT device, especially when coupled with
AMS&#146;s innovative financing programs. We are pleased to support the development of this next major
advance in radiation oncology, which we see as a natural complement to our Gamma Knife business.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Marc Buntaine, Chief Executive Officer of Still River Systems, said, &#147;As a leader in providing
radiotherapy devices, AMS is an ideal partner for Still River Systems. We welcome AMS&#146;s support
and look forward to working with them as we complete development of our PBRT system.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Still River Clinatron-250 PBRT system is not FDA approved, nor can there be any assurance that
this system will obtain FDA approval.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About Still River Systems</B><BR>
Still River Systems, Inc., a development stage company based in Littleton, Massachusetts, is
developing a medical device for the treatment of cancer patients using proton beam radiotherapy
(PBRT). Still River is dedicated to providing physicians and their patients access to high
quality, cost-effective proton beam radiation therapy solutions, and helping establish this
superior treatment modality as a standard of care for patients worldwide.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About AMS</B><BR>
American Shared Hospital Services is building a profitable medical services company in an
underserved niche &#151; turnkey technology solutions for advanced radiosurgical procedures. The
Company&#146;s core business is supplying hospitals with the Gamma Knife &#151; a non-invasive treatment for
malignant and benign brain tumors, vascular malformations and trigeminal neuralgia (facial pain).
The Gamma Knife, the &#147;gold standard&#148; in radiosurgery, reduces surgical risk and patient discomfort,
resulting in shorter hospital stays and lower risk of complications. In most cases, Gamma Knife
patients resume their normal activities within a few days of treatment, compared to weeks or months
for patients who undergo conventional surgery. More than 250,000 patients worldwide have already
received this treatment. American Shared Hospital Services is the world leader in providing Gamma
Knife radiosurgery services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Safe Harbor Statement</B><BR>
<I>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, which involve risks and uncertainties including, but not limited to, the risks of the
Gamma Knife business, the risks of developing the Company&#146;s IMRT and The Operating Room for the
21st Century<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> programs, and the risks of investing in a development-stage company, Still River
Systems, without a proven commercial product. 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 Company&#146;s filings with the Securities and Exchange Commission,
including the Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2005, and the
definitive Proxy Statement for the Annual Meeting of Shareholders held on June&nbsp;16, 2005.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Contacts:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">American Shared Hospital Services:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ernest A. Bates, M.D., 415-788-5300<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chairman &#038; CEO<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ebates@ashs.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkman Associates<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neil Berkman, 310-277-5162<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>info@berkmanassociates.com</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Still River Systems:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elisha Rittenberg<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978-486-1006 ext. 113<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>PublicRelations@Stillriversystems.com</U>

</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
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