Singular Health Group (ASX:SHG) has secured a $152,000 purchase order from Roseman University of Health Sciences in Nevada, US, for its 3Dicom research and development (R&D) software and patient licences.
The order comes as part of a 2-year contract between Singular and Roseman University under which Singular, which has a $13.28 million market capitalisation, will supply 50 R&D licences and 5,000 3Dicom patient licences
The 3Dicom software is designed to help patients and practitioners better visualise, communicate, and understand medical imaging data by enabling the interactive overlay of segmented anatomy and medical device files.
Under the Roseman contract, the licences are expected to be used for college students and patients treated at Roseman University’s medical school.
Roseman is the first US university to adopt Singular’s 3Dicom R&D software as a medical education tool in a market forecast to be worth US$17.6 billion by 2027, according to market researcher Fact.MR.
Shares in Singular Health were up 48.94% to $0.14 as of 3:45pm AEDT on 1 February.
Singular Health is expanding the medical education capabilities of its 3Dicom software by implementing artificial intelligence (AI) models to enable isolation manipulation and the export of particular anatomical structures.
Upon the successful implementation of non-diagnostic AI models, Singular Health intends to provide Roseman with early access to revised versions of the software containing the AI-based segmentation capabilities.
Singular Health Chief Executive Officer and Managing Director Denning Chong says: “We are exceptionally proud to be providing Roseman University of Health Sciences with our 3Dicom R&D software and their students and patients with our 3Dicom Patient solution.
Combined with recent smaller orders for 3Dicom R&D as a multifunctional medical education tool in India and the Middle East, this purchase order from Roseman University helps to further validate our software in a large US$17.2 billion market.”
“this purchase order from Roseman University helps to further validate our software in a large US$17.2 billion market”
Roseman University College of Medicine Senior Executive Dean for Community Health Innovation Luther Brewster says the purchase order with Singular Health Group aligns with the school’s priority to “work jointly with the private sector to create the healthcare professional of the future”.
Singular Health Group is a medical technology company utilising advanced technologies to develop patient-specific solutions.
Roseman University was founded in Henderson, Nevada, US in 1999. The school’s University of Health Sciences is a non-profit, private institution training new generations of healthcare professionals.
Write to Adam Drought at Mining.com.au
Images: Singular Health