Quarterly Activities/Appendix 4C Cash Flow Report

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Stock Singular Health Group Ltd (SHG.ASX)
Release Time 28 Jan 2025, 2:24 p.m.
Price Sensitive Yes
 Singular Health Group Ltd reports quarterly activities
Key Points
  • Signed MoU with Miami-based MSO Provider Network Solutions LLC for 3Dicom software
  • Successful $3.7m placement, including $500k from PNS and follow-on from Marin & Sons
  • Appointed renowned radiologist Dr. Ronny Low as Technical Advisor
Full Summary

Singular Health Group Limited (ASX: SHG) has provided shareholders with an operational and financial update for the transformational quarter ending 31st December 2024. Key highlights include the signing of a Memorandum of Understanding (MOU) with Provider Network Solutions (PNS), a Miami-based Managed Service Organisation (MSO), to collaborate on a technical proof-of-concept and commercial pilot within the PNS Network. The MOU is structured in four phases, with the initial technical proof-of-concept demonstrating Singular Health's proprietary Medical File Transfer Protocol (MFTP) and the application of a 3rd party artificial intelligence model. The company also completed a successful $3.7 million equity raise, with PNS subscribing for $500,000 and existing shareholder Marin & Sons contributing $200,000. Additionally, the company appointed Dr. Ronny Low, a highly regarded and well-credentialed Australian radiologist, as a Technical Advisor to support the implementation of the US Pilot Project with PNS. The quarter also saw the successful completion of a joint research project with Edith Cowan University (ECU) and the Arthritis and Osteoporosis WA Foundation (AOWA), focused on developing educational resources for secondary school students on bone and joint health.