American Shared Hospital To Sell Its Gamma Knife Business In Turkey

(RTTNews) - American Shared Hospital Services (AMS) said Wednesday that it has entered into an agreement to sell its Gamma Knife and radiation therapy services business in Turkey to Euromedic Cancer Treatment Centers BV.

The deal is expected to close on June 10.

Payment to American Shared Hospital Services will be in the form of cash, which predominantly will be used to pay down debt associated with the Turkish operations. Additionally, American Shared Hospital Services is eligible for an earn-out based on future revenue from the two Gamma Knife units and one Image Guided Radiation Therapy unit it currently operates in Istanbul and Adana, Turkey.

Additional terms of the deal were not disclosed.