American Shared Hospital Services (AMS) announced that it purchased two radiology practices from GenesisCare USA, Inc.
Southern New England Regional Cancer Center, LLC provides radiology care from two locations in Rhode Island. The Woonsocket location does business as Landmark Radiation Therapy and the Warwick location does business as Maddock Radiation Therapy. There are three providers on staff.
ProspectCharterCARE, LLC, which does business as Roger Williams Radiation Therapy, LLC, has one location in Providence, Rhode Island. According to its website, the radiology practice has one provider on staff.
AMS provides turnkey technology solutions for advanced radiosurgical and radiation therapy services. AMS provides Gamma Knife radiosurgery equipment, a non-invasive treatment for malignant and benign brain tumors, vascular malformations and trigeminal neuralgia.
As part of this transaction, AMS purchased a 60% stake in the radiology practices for a total of $2.85 million. This acquisition was done as part of GenesisCare USA’s Chapter 11 bankruptcy process.
According to data captured in the LevinPro HC database, this transaction represents the 470th Physician Medical Groups acquisition of the year, and 13th in the oncology specialty.
This is also the second time during 2023 that GenesisCare USA has sold part of its radiology portfolio. In October the company sold its Orange County, California- based radiology centers to UCI Health for an undisclosed price.
