Perth medtech Singular Health has gone from strength to in recent months. Listing on the ASX in February, with a market cap of around $20 million, it has almost doubled since.
Over the past three years, the Subi-based medtech has developed its proprietary Volumetric Rendering Platform (VRP) which can convert traditional 2D radiological images into fully-immersive 3D volume rendered models.
The company has four products in various stages of development which are aligned with their vision of developing better health literacy and which all draw upon the core Volumetric Rendering Platform.
These products are:
- MedVR (surgical planning/visualisation aid for medical practitioners;
- 3DicomViewer (hardware agnostic medical image viewer for patients and practitioners alike);
- Virtual Anatomy (anatomical education in 3D and VR for High schools and universities; and,
- VisualEyes (interactive retinal imaging review software for use in optical outlets.
Partnering with Australia’s national science agency, CSIRO, Singular Health has successfully developed an automated segmentation of a spinal vertebra from CT scans.
Singular Health recently acquired Virtual Surgical Planning for $500,000, and 25% interest in Australian Additive Engineering for $300,000.
The Virtual Surgical Planning acquisition was split 50/50 into cash payments and shares in Singular Health, Australian Additive Engineering was a wholly cash acquisition.
SHG said the move well positions the company “to become a leading player in the ‘Scan to Surgery’ market”
The company also said, “Scan to Surgery addresses a $4.48B opportunity combining medical visualisation software with additive manufacturing, a unique set of technologies and innovations that are transforming healthcare around the world.”
The two acquisitions, the company said, “[bring] the Company closer to its strategic goal of near-term commercialisation of an end-to-end personalised surgical planning platform for the spinal and maxillofacial surgical sectors”