Singular Health is set to debut on the ASX on Friday the 12th of February, with the innovative health technology company primed to pitch its remarkable MedVR and 3Dicom medical imaging software to the market. The software allows doctors, surgeons, radiologists and even patients themselves to upload their 2-dimensional CT or MRI scans into the system to create a remarkable 3D model of the problem area.
It even has a virtual reality component that will allow a user to “fly through” their own anatomy courtesy of a set of 3D virtual reality goggles.
CT and MRI scans involve large numbers of 2 dimensional “slices” to be scanned from a patient. The slices can be as small as just half a millimetre thick and must be reviewed individually in order to give a radiologist an indication that a problem has developed, such as a cancerous tumour for example.
The problem with CT scans and MRI’s is that they are in 2 dimensions only and very hard to read and understand unless you are a specialist.
Enter Singular Health.
Whilst the company says it has only really begun to explore the applications for the technology, the software is already being utilised to create virtual 3D models to assist in everything from the visualisation of patient bone density through to the planning of complex medical procedures, reducing time in theatre and patient recovery time.
Singular’s 3-dimensional, or “3D” modelling software was originally borne out of need back in 2017 when one of the company’s founders, Oncologist Dr Jason Tan, encountered a particularly complex cancerous tumour in a patient that required a more detailed assessment than the standard 2D slices from an MRI. Dr Tan joined forces with a group of computer programmers and imaging specialists to produce an application that effectively stitched together the 2D slices and created a 3D model, allowing a more detailed assessment of a range of medical conditions prior to surgery.
Patients and surgeons alike are able to use Singular’s software to view anything in 3D from complex imaging of small body parts, including specific organs such as a retina or kidney, through to a whole-body scan. That 3D model can then be viewed on a range of devices from mobile phones through to work-stations and virtual reality, or “VR” platforms.
Singular’s world domination vision is to see medical specialists and patients around the globe subscribing to its software in order to have simple yet detailed conversations with the benefit of a 3D model that better illustrates a problem area.
Singular’s developing suite of applications is built upon its flagship product, MedVR, which was designed for use by specialist surgeons to help visualise a patient’s anatomy and plan for surgery by utilising MRI, CT or PET 2D scans to create 3D models. MedVR allows clinicians, including oncologists, neurologists and general surgeons to use virtual reality goggles to “fly through” a patient’s 3D model and “virtually” strip away various layers of tissue and skeletal material to more closely examine a particular medical condition or problem area.
The company’s MedVR software is already being utilised by various hospitals and clinicians following approval for use in surgical planning by Australia’s Therapeutic Goods Administration, or the “TGA”.
The product with the greatest ability to do the global heavy lifting when it comes to scalability is Singular’s evolving 3Dicom viewer application.
DICOM stands for “Digital Imaging and Communications in Medicine” which is a world-wide standard for the presentation of medical imaging, including MRI and CT scans. The company’s 3Dicom viewer builds upon the software developed for the MedVR program and provides patients and practitioners with a simple application to view scans and create 3D models.
The user simply accesses their DICOM file from a recent scan before opening it in Singular’s software which then renders it in a 3D model based on the 2D scans which becomes viewable on a personal device.
Even the most complex models being constructed by the application can be ready for use in just a couple of minutes, according to the company.
The software can be readily downloaded from the company’s website and is free for casual users such as patients wanting to have a more detailed look at their own scans, whilst medical practitioners can access the software as a service for as little as $5 a month for the Pro version as up to $30 a month for the surgical version.
The 3Dicom software will be presented to the Australian TGA and the US Federal Food and Drug Administration for approval for use in general practice and surgical applications soon.
The company has already made the software available for Windows, with an Apple version is currently under development.
A mobile version is expected to also be available within the next two to three months.
In the last four years, the investors behind Singular Health have pumped over $3 million into research and development of the MedVR and 3Dicom software applications. Both products are already in use in medical practices and hospitals around Australia and interest is increasing around the world as the company looks to list on the ASX.
Singular Health lodged its prospectus with the ASX in December 2020 and closed its initial public offering, or “IPO” in late January 2021 in the wake of overwhelming investor support. The IPO was well oversubscribed and raised $6 million which will be utilised for the marketing, the advancement of the company’s products and to accelerate the development of a range of specialist applications for medical use.
With more than 34,000 general practitioners spread across Australia alone, Singular Health’s 3Dicom software as a service viewer looks like it is scalable at the very least.
Interestingly, more than six million CT and MRI scans are conducted each year just in Australia and around sixty-six thousand CT scans a day are conducted in China according to the company.
It is not going to just change the way we view medical images, it is going to change the whole way we understand our own health information.
All eyes will be on Singular Health when it lists on the ASX on Friday, as it seeks to convince punters that its technology is so disruptive that it could even become standard practise in millions of medical professional practices around the world given its ease of use and exceptionally easy to understand 3D imaging.
It probably doesn’t hurt either that a flock of recently listed medical technology companies have blitzed their listing prices in the last year or so including InteliCare, Atomo Diagnostics, 4D Medical and Osteopore to name just a few.
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