American Shared struggles to service debt

Article

Imaging services provider American Shared Hospital Services ofSan Francisco failed to make the semiannual interest payment thatwas due last month on senior subordinated notes. The firm is discussingways to restructure the debt with its investment banker.

Imaging services provider American Shared Hospital Services ofSan Francisco failed to make the semiannual interest payment thatwas due last month on senior subordinated notes. The firm is discussingways to restructure the debt with its investment banker. Earlierin April, ASHS repurchased $6 million in senior subordinated notesfrom two holders at a discount.

ASHS, which is predominantly a mobile medical imaging company,has a cash flow problem due to losses incurred over the last twoyears. The company is exploring other financing options apartfrom debt restructuring, including the sale of assets and possiblejoint ventures, according to the ASHS 1990 annual report, releasedlast month.

The firm's primary magnetic resonance imaging business is profitable.ASHS has been loosing money, however, with its computed tomography,ultrasound and nuclear medicine businesses, said Ernest A Bates,chairman.

ASHS lost $3.6 million in fiscal 1990 (end-December), comparedto $2.7 million in 1989. Revenues were $61.5 million last year,up 18% from $52.3 million in 1989.

Newsletter

Stay at the forefront of radiology with the Diagnostic Imaging newsletter, delivering the latest news, clinical insights, and imaging advancements for today’s radiologists.

Recent Videos
SNMMI: Emerging PET Insights on Neuroinflammation with Progressive Apraxia of Speech (PAOS) and Parkinson-Plus Syndrome
Improving Access to Nuclear Imaging: An Interview with SNMMI President Jean-Luc C. Urbain, MD, PhD
SNMMI: 18F-Piflufolastat PSMA PET/CT Offers High PPV for Local PCa Recurrence Regardless of PSA Level
SNMMI: NIH Researcher Discusses Potential of 18F-Fluciclovine for Multiple Myeloma Detection
SNMMI: What Tau PET Findings May Reveal About Modifiable Factors for Alzheimer’s Disease
Emerging Insights on the Use of FES PET for Women with Lobular Breast Cancer
Can Generative AI Reinvent Radiology Reporting?: An Interview with Samir Abboud, MD
Mammography Study Reveals Over Sixfold Higher Risk of Advanced Cancer Presentation with Symptom-Detected Cancers
Combining Advances in Computed Tomography Angiography with AI to Enhance Preventive Care
Study: MRI-Based AI Enhances Detection of Seminal Vesicle Invasion in Prostate Cancer
Related Content
© 2025 MJH Life Sciences

All rights reserved.