American Shared Hospital Services (AMS) extends Orlando Health proton therapy lease to 2033

Rhea-AI Filing Summary

American Shared Hospital Services entered into a second amendment to its Proton Beam Radiation Therapy Lease Agreement with Orlando Health, Inc. on March 13, 2026. The amendment extends the lease term for the proton therapy system by seven years, from April 6, 2026 through April 5, 2033.

The updated agreement sets lease payments for the extended term using a technical component collection percentage, with that percentage decreasing during certain twelve‑month periods. It also grants Orlando Health an option to purchase the leased equipment at the end of the term, with a defined purchase price and exercise window.

The amendment further addresses the company’s obligation to remove the equipment at its expense if Orlando Health does not exercise the purchase option, including related financial understandings, and clarifies each party’s maintenance and insurance responsibilities.

false 0000744825 0000744825 2026-03-13 2026-03-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 13, 2026

AMERICAN SHARED HOSPITAL SERVICES

(Exact Name of Registrant as Specified in Its Charter)

California		1-08789		94-2918118
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)
601 Montgomery Street, Suite 850 San Francisco, California				94111
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s telephone number, including area code: (415) 788-5300

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on Which Registered
American Shared Hospital Services Common Stock, No Par Value		AMS		NYSE AMERICAN

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                                                        ☐

Item 1.01 Entry into a Material Definitive Agreement

American Shared Hospital Services (the “Company”) is a party to a Proton Beam Radiation Therapy Lease Agreement dated October 18, 2006, as amended by Amendment One to Proton Beam Radiation Therapy Lease Agreement dated effective as of August 12, 2012 (the “Lease”), under which it leases a proton beam radiation therapy system to Orlando Health, Inc. (“Orlando Health”). On March 13, 2026, the Company and Orlando Health entered into Amendment Two to Proton Beam Radiation Therapy Lease Agreement (the “Amendment”). The Amendment extends the term of the Lease for an additional seven years commencing April 6, 2026 through April 5, 2033 (the “Extended Term”), and sets the lease payment terms during the Extended Term based on a technical component collection percentage with that percentage decreasing during certain of the twelve month periods of the Extended Term. The Amendment amends certain other terms of the Lease and sets forth certain agreements between the parties with respect to the leased equipment, including (i) an option granted to Orlando Health whereby it may elect to purchase the leased equipment at the end of the lease term, including setting the purchase price and the period in which Orlando Health may exercise its option, (ii) matters related to the Company’s obligation to remove, at its expense, the leased equipment from Orlando Health at the end of the Extended Term in the event Orlando Health does not exercise its purchase option, and certain financial understandings of the parties related to that obligation, and (iii) maintenance and insurance coverage obligations of the parties.

The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
10.1 †	Amendment Two to Proton Beam Radiation Therapy Lease Agreement effective as of March 13, 2026 by and between American Shares Hospital Services and Orlando Health, Inc.
104	Cover page Interactive Data File (embedded within the Inline XBRL document)
†	Certain portions of this exhibit have been omitted because they are not material, would be competitively harmful if publicly disclosed, and are of the type that the registrant treats as private or confidential.

SIGNATURES

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.

	AMERICAN SHARED HOSPITAL SERVICES
	(Registrant)
Dated: March 19, 2026	By:	/s/ Raymond C. Stachowiak
		Raymond C. Stachowiak
		Executive Chairman of the Board

FAQ

What agreement did American Shared Hospital Services (AMS) update with Orlando Health?

American Shared Hospital Services updated its Proton Beam Radiation Therapy Lease Agreement with Orlando Health through a second amendment. This amendment revises lease terms for the proton therapy system, including the lease duration, payment structure, purchase option, and responsibilities for maintenance, insurance, and potential equipment removal.

How long is the extended proton therapy lease term for AMS and Orlando Health?

The proton therapy lease term is extended for seven additional years, running from April 6, 2026 through April 5, 2033. This extended term provides a defined period for continued operation of the leased system under the amended payment, maintenance, and option provisions agreed by both parties.

How are lease payments structured in the extended term of the AMS agreement?

Lease payments in the extended term are based on a technical component collection percentage. That percentage decreases during certain twelve‑month periods of the extended term, aligning payments with collections and creating a variable payment structure tied to the technical revenue component from the proton therapy services.

What purchase option does Orlando Health have for the leased proton therapy equipment?

Orlando Health receives an option to purchase the leased proton therapy equipment at the end of the lease term. The amendment sets the purchase price and defines a specific period during which Orlando Health may exercise this option, providing a clear pathway to eventual ownership if elected.

What happens if Orlando Health does not purchase the proton therapy equipment?

If Orlando Health does not exercise its purchase option, American Shared Hospital Services must remove the equipment at its own expense at the end of the extended term. The amendment outlines financial understandings related to this removal obligation, clarifying cost responsibility and associated arrangements between the parties.

How does the AMS amendment address maintenance and insurance for the proton system?

The amendment sets out maintenance and insurance coverage obligations for both American Shared Hospital Services and Orlando Health. It clarifies which party is responsible for maintaining the proton therapy equipment and how insurance coverage is allocated, helping define operational and risk‑management duties during the extended lease term.

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 93.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.5 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.7 KB