How Singular Health’s $1.3M US Contract Could Revolutionize Medical Imaging
Singular Health Group has inked a $1.3 million contract with Provider Network Solutions to deploy its 3DICOM imaging platform across key US states, backed by an $8 million capital raise to fuel national expansion.
- USD $1.3M binding contract signed with Provider Network Solutions
- Deployment of 1,000 3DICOM licenses across Puerto Rico, Florida, and Texas
- Potential national rollout across 30 additional US states via PNS network
- AUD $8M capital raising supported by institutional investors and existing shareholders
- Estimated $19 billion total addressable market for 3DICOM licenses in US primary care
A Strategic US Market Entry
Singular Health Group (ASX, SHG), a Western Australian medical technology company, has taken a significant step forward in its US expansion strategy by signing a binding $1.3 million contract with Provider Network Solutions (PNS). This Managed Service Organisation, operating across Puerto Rico, Florida, and Texas, manages healthcare for over 3.7 million members and will deploy Singular Health’s 3DICOM platform within its Primary Care Physician (PCP) network.
The contract involves the initial rollout of 1,000 3DICOM MD licenses at $800 per license annually, alongside development and integration of AI diagnostic models and a centralized medical image repository. This pilot program aims to tackle persistent challenges in US healthcare such as duplicate imaging, delayed disease detection, and fragmented access to medical imaging.
Addressing Inefficiencies in Healthcare Imaging
Duplicate imaging has long been a costly and inefficient problem in the US healthcare system. By centralizing access to imaging data and streamlining sharing across disparate systems, Singular Health’s 3DICOM platform promises to reduce unnecessary scans, accelerate clinical decision-making, and improve patient outcomes. The collaboration with PNS reflects a year-long co-design process informed by frontline healthcare professionals, ensuring the solution is tailored to real-world operational needs.
Importantly, PNS has already made an initial non-refundable payment of $300,000 towards the licenses, underscoring their commitment. The contract’s structure also includes milestone payments tied to the successful delivery of AI integration and repository development, highlighting the technology’s evolving role in healthcare workflows.
A Launchpad for National Expansion
Beyond this initial deployment, the contract positions Singular Health for a potential large-scale national rollout. PNS’s joint venture with Healthcare Outcomes Performance Company (HOPCo), which operates in over 30 states, opens the door for Singular Health’s technology to reach a vast network of primary care providers. With an estimated 1.3 million PCPs in the US, each affiliated with multiple MSOs, the total addressable market for 3DICOM licenses is estimated at a staggering $19 billion annually.
Singular Health is actively engaging with other MSOs and healthcare plans nationwide, building a robust pipeline of commercial opportunities. The company’s CEO, Denning Chong, emphasized the transformative potential of this partnership and the strong alignment with PNS and other institutional investors who participated in the recent capital raising.
Capital Raising to Accelerate Growth
To support this ambitious growth trajectory, Singular Health successfully completed a strategic placement raising AUD $8 million at $0.35 per share, a slight discount to recent trading prices. The capital raise attracted strong support from institutional investors and existing shareholders, including PNS and Marin & Sons, reinforcing confidence in the company’s technology and commercial prospects.
These funds will be deployed to accelerate the national rollout of the 3DICOM platform, enhance product development, and provide working capital. The placement shares are expected to settle imminently, enabling Singular Health to capitalize on the momentum generated by the PNS contract and ongoing discussions with other healthcare entities.
Looking Ahead
With a validated commercial contract, a clear path to national deployment, and a strengthened balance sheet, Singular Health is poised to make a meaningful impact on the US healthcare imaging landscape. The company’s technology addresses critical inefficiencies and aligns with broader trends toward interoperability and value-based care.
However, the success of the AI integration and the scalability of the platform across diverse healthcare networks remain key factors to watch as the rollout progresses. Investors and industry observers will be keen to see how quickly Singular Health can convert its pipeline into revenue and expand its footprint in one of the world’s largest healthcare markets.
Bottom Line?
Singular Health’s US contract and capital raise set the stage for a transformative national rollout, but execution risks remain.
Questions in the middle?
- How quickly will Singular Health scale beyond the initial 1,000 licenses in the PNS network?
- What are the milestones and timelines for AI model integration and centralized image repository development?
- How will Singular Health navigate competitive pressures and regulatory complexities in the US healthcare market?
