Singular Health
- Singular Health is well positioned to become a leading player in the 'Scan to Surgery' market. Scan to SurgeryTM is a disruptive technology and process that revolutionises the planning and execution of surgical procedures, reducing cost and improving patient outcomes.
- Scan to SurgeryTM addresses a $4.48B opportunity1 combining medical visualisation software with additive manufacturing, a unique set of technologies and innovations that are transforming healthcare around the world.
27 May 2021 – Singular Health Group Ltd (ASX: SHG) ("Singular Health", or "the Company")
is pleased to announce that, following the General Meeting conducted on 11 May 2021 where
it received overwhelming shareholder support to proceed, the Company has now completed
the acquisition of Virtual Surgical Planning ("VSP") and its investment into Australian Additive
Engineering Pty Ltd ("AAE") ("Transactions").
Completion of the Transactions included payment to VR Surgical Pty Ltd of $250,000 in cash
and the issue of 568,482 fully paid ordinary shares ("Shares") for the value of $250,000
($0.4397 per share), which is subject to a voluntary 12-month escrow, and payment of
$300,000 to AAE for 25% of the issued capital of that entity.
The strategic acquisition of VSP and investment into AAE accelerates Singular Health's Scan
to SurgeryTM initiative, bringing 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.
Thomas Hanly, Singular Health's Chief Executive Officer, said:
"Following our due diligence and the successful EGM, we are excited to kickstart our Scan to
SurgeryTM initiative with this software acquisition and investment into an Australian-owned and
operated medical-grade 3D printing facility.
Scan to SurgeryTM will enable medical practitioners to visualise radiological images using our
proprietary Volumetric Rendering Platform, 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.
All this in one piece of software."
Please refer to previous ASX announcements on 22 March and 6 April 2021
/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).
