Singular Health Group Ltd (ASX:SHG) is a medical technology story that utilises artificial intelligence to allow precision surgeries at a more efficient timeline.
In our very first Coffee with Samso, 3D Medical Imaging - Taking health care to the next dimension: Singular Health Group Ltd, we learnt that the company was bringing 3D imaging to the market. Since then, as we learn in this episode, that model has changed.
In my opinion, this change is a stroke of genius as it is now a business that allows existing practitioners to create more value for themselves and their patients.
Using the Scan To Surgery concept is the way to go as it means all stakeholders within the industry will have value added to their position in the chain. Practitioners will be more efficient and can provide better service for their patients. Patients will be able to have more information, have a better understanding and be exposed to more cost-efficient processes.
Chapters
- 00:00 Start
- 00:20 Introduction
- 01:28 James updates on Singular Health.
- 02:44 The vertical integration process.
- 07:30 Who is the market?
- 08:38 The Scan To Surgery story.
- 09:46 The sequence of Scan To Surgery.
- 12:50 It is all about patient-specific implants and medicine.
- 13:02 The vertical integration story.
- 14:24 What stage is the business? How accurate is the precision?
- 17:32 Is Singular Health at proof of reliability?
- 18:10 SHG wants software to be accessible worldwide.
- 18:24 Large market for business.
- 19:43 The Scan To Surgery process is not common practice.
- 21:29 SHG is all about reducing time from the Scan to the Surgery.
- 22:16 APPROVALS is for SOFTWARE not medical/biotechnical products that need lengthy clinical trials.
- 22:56 The Singular Health business seems EASY.
- 26:07 What's the competition and who are your peers?
- 30:50 The Osteopore relationship.
- 34:25 Osteopore will use SHG software.
- 35:42 Reconfirmation that the SHG software, AI is not a common feature in the marketplace.
- 36:22 The process of acceleration in the Scan To Surgery procedure is unique to Singular Health.
- 37:20 The benefits of Patient Specific Medicine.
- 40:25 Potential investors exit could be an M&A process.
- 41:33 Last words from James Hill.
- 42:26 Conclusion
PODCAST
About Singular Health Group Ltd
Singular Health develops better health literacy with the ability to access, understand and use information to make medical decisions, and take action about health and healthcare.
With the help of its core proprietary technology, the Volumetric Rendering Platform (VRP), 2D medical imagery can be converted into volumetric 3D models which can be visualised, manipulated, modified and reviewed using a standard monitor or by utilising virtual reality.
As an example, the VRP can convert a standard 2D axial view of a thorax into a 3D volume-rendered thorax that can be viewed and manipulated in virtual reality. 2D images can be stacked to provide depth and can therefore be viewed in 3D.
The core value proposition of the VRP is that it:
(i) Allows for the real-time conversion of medical imaging data (allowing end-users to volume render 2D data, typically within 120 seconds from the time the imaging file is available);
(ii) Possesses in-situ processing capabilities and does not rely upon any internet connectivity and/or external code libraries or processing to convert images from 2D to 3D, which acts to both protect patient confidentiality and enable off-line usage of the technology in remote and rural locations;
(iii) Assists in the integration of Singular Health’s technology into the medical and education markets and workflows, any alterations, measurements, screenshots or videos (derivatives of the main scan) are saved in industry-standard file formats (.obj, .stl, .json, .jpeg, .mp4). This not only makes derivative information much more transferable and viewable on traditional 2D DICOM viewers but also permits the usage of files in third-party computer-aided design packages and media viewers whilst still preserving the proprietary nature of the rapid volumetric rendering;
(iv) Allows end-users to experience a fully-immersive viewing experience with 360° viewing and in some instances the inclusion of a 4th dimension, which is the time taken to perform a virtual surgical action and/or review 4D scans (such as functional MRIs);
(v) Is designed to operate using the graphics processing capabilities of high-end yet retail grade hardware, including Alienware laptops, thin-client desktops and Oculus Rift S virtual reality headsets. The combined cost of the hardware is approximately $5,000 resulting in low capital expenditure by end-users; and
(vi) Can be integrated with picture archiving and communications systems within hospital and clinical environments to provide easy, industry-standard access to the medical imagery used as inputs for the software.
The directors believe that the VRP provides multiple opportunities for growth through the development of surgical visualisation and planning products, patient education products and geological and resources focused products.
About James Hill
James is an experienced professional in the commercial technology sector, having held directorships with a number of private companies. James graduated from the University of Western Australia with a Bachelor of Commerce (Marketing and Management) and has since worked on a number of projects across the fields of finance, engineering and marketing.
Previously the managing director of a digital marketing agency for 3.5 years and with corporate experience, he provides key and strategic advice on digital marketing, investor relations and go-to-market strategy. James has also worked with corporate advisory firms in Perth providing business planning and financial modelling services.
Over the past decade, he has produced one of Australia's most efficient manned electric vehicle and has a broad technical background with hardware and software that he applies in his role within Singular Health liaising between the development, management and sales teams.
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