American Shared Hospital Services announced that it has signed a joint venture agreement to partner in a radiation therapy facility in Puebla, Mexico, located 80 miles from Mexico City. AMS has signed a Joint Venture agreement with the principal owners of Guadalupe Amor Y Bien to establish a Mexican company (“Newco”) to treat public and private cancer patients. AMS and Guadalupe will hold 85% and 15% ownership interests, respectively, in Newco.

Under the agreement, AMS will be responsible for providing a linear accelerator upgrade to an Elekta Versa HD (“Versa”), and Guadalupe will be accountable for all site modification costs. Guadalupe Amor Y Bien is a well-established, privately owned radiation therapy facility.  Founded in 1997, Guadalupe introduced the first linac in the region which has a population of over six million people. The facility, which hasn't operated since 2020, is expected to start up in late 2022/early 2023, pending regulatory approvals.  The Center will be staffed by an administrative and medical team, including a full-time Medical Director, radiation oncologist, and medical physicist.