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Singular Health secures PNS deal and finalises $8m placement for US expansion

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By Colin Hay - 
Singular Health ASX SHG Singular Health Group Contract Provider Network Solutions Capital Raising
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Singular Health Group (ASX: SHG) has signed a binding $2 million contract with US firm Provider Network Solutions (PNS) for further adoption of Singular’s 3DICOM medical imaging platform.

Florida-headquartered PNS is a leading managed healthcare service organisation (MSO) which looks after the healthcare of more than 3.7 million members.

The contract allows for the initial deployment of 1,000 3DICOM MD Licences at US$800 per licence, with PNS to pay an additional US$500,000 to Singular upon satisfaction of certain conditions.

Major challenges

Since November 2024, Singular Health and PNS have identified a number of major challenges that they say consistently affect MSOs across the US.

Chief executive officer Denning Chong said the issues pose significant operational and commercial hurdles that impact both the efficiency of care delivery and overall healthcare costs.

“As part of the PNS commercial contract, Singular Health’s 3DICOM platform is being used to tackle these problems at their source,” Mr Chong said.

“What sets this partnership apart is that PNS is actively working with us to develop a solution aimed at significantly reducing duplication costs and inefficiencies within their own operations—issues that are common and widespread across the US healthcare system.”

Strategic placement

Singular Health has received binding commitments for $8m in a strategic placement, with PNS and Marin & Sons subscribing for $150,000 each.

The company will use proceeds from the placement to support the national rollout of its 3DICOM platform and software, enhance product development and provide working capital to the company.

Mr Chong said that the continued commitment of the two existing shareholders reiterated their genuine belief in the company’s technology and outlook.

“This contract is the product of over a year of collaboration with PNS and years of work by our team and we now believe we’re on the verge of a truly transformative opportunity.”