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Singular Health (ASX:SHG) has highlighted its MOU and strategic placement with an American Miami-based health entity.
At the crux of the MOU is Singular’s product 3Dicom – a program that ultimately seeks to enhance MRI and CT scans by combining those datasets with 3D “patient-specific anatomy.” The software can be used as an app.
(On its own website, Singular describes the tech as “early-stage.”)
The MOU ultimately allows a first-test of the technology, given both parties are working towards an “initial commercial pilot.” This will be followed, all cards in order, by a larger rollout across all of PNS’s network.
The jump in the share price is indicative of Miami-based partner Provider Network Solutions (PNS), an entity with 3.7M member plans under management. Singular describes PNS as the leading Floridian managed specialty care provider.
As part of Singular’s placement, PNS has lobed A$500,000 at the company, what the former called a “cornerstone equity investment.”
The larger placement raised $3.7M at 9cps. The funds will be used to develop the ‘early stage’ 3Dicom product, the pilot, as well as overall working capital.
“Following many months of due diligence, preliminary technical and commercial discussions, and in-person representations, we are pleased to be able to announce this strategic agreement with Provider Network Solutions,” Singular CEO Denning Chong said.
“We look ahead to the technical proof-of-concept which is expected to commence in the coming days and to solidify our relationship with PNS in the coming weeks and months.”
SHG last traded at 13cps.
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