- Singular Health Group (SHG) has launched its trademarked Scan to Surgery initiative into the global medical software and 3D-printing market
- The combined technology and process are designed to revolutionise surgical procedures, reduce costs and improving patient outcomes
- The launch follows the company’s acquisition of Virtual Surgical Planning and investment into Australian Additive Engineering
- SGH aims to commercialise an end-to-end personalised surgical planning platform for the spinal and maxillofacial surgical sectors in the near-term
- Singular Health Group shares closed at 31 cents on May 27
Singular Health Group (SHG) has launched its trademarked Scan to Surgery initiative into the global medical software and 3D-printing market.
Scan to Surgery is a disruptive technology and process designed to revolutionise the planning and execution of surgical procedures, thereby reducing costs and improving patient outcomes.
The launch follows an “overwhelming” show of support from shareholders at Singular Health’s general meeting on May 11, which prompted the company’s acquisition of Virtual Surgical Planning (VSP) and its investment into Australian Additive Engineering (AAE).
The now completed transactions saw the medical technology developer pay $250,000 cash and issue 568,482 fully paid ordinary shares to VR Surgical .
The shares, which were issued at 43.97 cents each, are now subject to a voluntary 12-month escrow.
Further, SHG paid $300,000 to AAE for 25 per cent of the entity’s issued capital.
Singular Health Group CEO Thomas Hanly said the strategic acquisition of VSP and investment into AAE have accelerated the company’s Scan to Surgery initiative.
“Following our due diligence and the successful general meeting, we are excited to kickstart our Scan to Surgery initiative with this software acquisition and investment into an Australian-owned and operated medical-grade 3D-printing facility,” Thomas said.
“Scan to Surgery will enable medical practitioners to visualise radiological images using our proprietary Volumetric Rendering Platform,” he added.
“[It will also] deploy our artificial intelligence models to segment relevant anatomy and use the integrated virtual surgical planning software to manipulate this anatomy and design patient-specific medical implants and guides that will be 3D-printed at the AAE facility and delivered for surgical use.”
Looking ahead, SHG says it is closer to meeting its near-term goal of commercialising an end-to-end personalised surgical planning platform for the spinal and maxillofacial surgical sectors.
A recent report from market researchers Frost & Sullivan valued the global medical software and 3D-printing market at $US4.48 billion (around A$5.78 billion).
At market close, shares in Singular Health Group were trading at 31 cents.