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SHG - Singular Health Group (1 Viewer)

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Singular Health is a medical technology company focused on the development of medical software for the visualisation, manipulation and transfer of medical imaging data in 3D and virtual reality.

Medical volume rendering is a process that allows for the visualisation of the surface elements, internal geometry, and components of a 3D structure typically acquired in 2D using CT & MRI scanning machines. Singular Health has acquired and developed the proprietary and patented Volumetric Rendering Platform which aids medical practitioners, patients, educators and students to view complex 2D medical images in 3D and virtual reality.

Singular Health’s Volumetric Rendering Platform has several distinct advantages to drive adoption in the areas of surgical planning, medical education and patient education, including:
  • in-situ volume rendering with retail grade hardware, providing a fast, secure and fully onsite service without transmitting confidential patient data to third-party cloud-based servers for the MedVR surgical planning product;
  • optimised 3D conversion & device agnostic software for medical and patient education products which reduces the requirement for capital expenditure for Virtual Anatomy and 3DicomViewer products; and
  • Singular Health's software is delivered through a SaaS model with a scalable online knowledgebase.
Singular Health has already established a strategy for the vertical integration of the Company’s capabilities, in collaboration with key opinion leaders and joint ventures with established businesses, to develop an end-to-end solution for the visualisation, analysis and segmentation via artificial intelligence and production of bespoke solutions through additive manufacturing.

It is anticipated that SHG will list on the ASX during February 2021.

 

Dona Ferentes

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Listing date4 February 2021 #
Company contact detailshttps://singular.health/
Ph: 1300 167 795
Principal ActivitiesSale and development of medical imaging and visualisation software and technology
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeSHG
Capital to be Raised$6,000,000
Expected offer close date22 January 2021
UnderwriterNot underwritten. PAC Partner Securities Pty Ltd (Lead Manager)

Ducks are not lined up yet ..... Unlikely to list today
 

Dona Ferentes

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first day - opened well up.

20c at float; 5 minute chart
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The business was founded in mid 2017 by oncologist Dr Jason Tan, after trying to plan a surgery for a particularly difficult tumour. The experience led him to team up with some software developers to create a way for him to view the tumour, which would give him a better ability to plan the upcoming surgery. This collaboration led to the creation of MedVR, which went on to become Singular Health and is its first commercial product.

Mr Hanly joined the company as managing director in May 2019, having previously assisted the business in raising capital. In December 2019 he experienced first hand how valuable its technology was, when he was diagnosed with an aggressive form of adrenal carcinoma. A CT scan discovered a 500g malignant tumour, which was invading his kidney.
“I was able to sit down with my oncologist and review my file using our 3D software … it allayed my anxiety,” Mr Hanly said.

As well as its VR product, the company has been developing a product called 3Dicom Viewer, which lets clinicians view images in 3D via their portable devices as well as the VisualEyes product, which is designed for the optometry sector.

Mr Hanly said this product will be more scalable than its MedVR software because it lets surgeons view the scans in the operating theatre, letting it inform their surgeries. He also sees a market for it among individuals who want to be able to look at their own scans in a format that’s easier to interpret than traditional 2D scans.
The concept was to make the software available to more people on standard devices,” he said. “On my Android phone I have the beta application where I can download a dicom file and render it in 30 seconds using my mobile phone’s own capabilities.“

The company generates a modest amount of revenue – $23,000 between July 1 and November 30, 2020 – from its MedVR product, which is used in hospitals in Australia, Brunei, Singapore, South Africa, Hong Kong and Switzerland.

Cyan Investment Management bought into the float, spending $400,000 to acquire a 1.99 per cent stake. Cyan fund manager Dean Fergie said he was inspired to buy in because even though the company was very early stage, it had a lot of potential.
With any of these companies you have to look conceptually at what they’re doing, but also at some of the trailblazers in the industry,” he said.
Thinking of Pro Medicus and 4D Medical, they’re $4.5 billion and $500 million companies respectively. So with a business like this that has a few different arms and products, you think there’s a bit of potential and it only had a market capitalisation of $20 million.
Cyan was scaled back by 30 per cent compared to what it had requested and on Friday bought up more stock. Mr Fergie’s biggest concern for the business was that its plans for product commercialisation and market expansion in 2021 were too ambitious and it was at risk of spreading itself too thin.

Singular has set itself the goal of being cashflow break-even in 18 months and Mr Fergie said even if it took the company two or three years, this would be “outstanding”.
 

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