Sydney-based brokerage and research firm Red Leaf Securities runs health technology company Singular Health and says it offers attractive exposure to in-demand technologies such as virtual reality, AI, blockchain and 3D printing.
According to Red Leaf, Singular’s bespoke medical technologies, in particular its flagship surgical 3D imaging product 3DICOM, could be a game-changer as its application will foster a vertically integrated “scan-to-surgery” process. The global technology will accompany a patient from the first 3D diagnostic scans to the delivery of individual implants in the operating room.
Additionally, the broker says Singular’s acquisition of ‘Virtual Surgical Planning’ and the acquisition of a 3D printing facility in Melbourne helps provide an end-to-end surgical planning process that could provide a competitive advantage. , translate into high operating margins and open the door to M&A opportunities.
The boutique broker says its estimates are supported by strong macro trends in the medical technology and imaging sectors.
Health care is currently experiencing strong growth due to the increase in life expectancy worldwide and the aging of the population. The medical imaging market has exploded thanks to these factors and is now valued at US$2.4 billion and growing at a compound annual growth rate or “CAGR” of 8.18%. The medical 3D printing and AI markets are expected to follow suit, growing at a CAGR of 16.3 and 30.4% respectively according to Red Leaf.
Singular Health recently made headlines after bursting into the medical “metaverse” with its virtual reality 3D medical visualization tools that allow practitioners and patients to confer via virtual reality headsets. The company says its virtual surgical planning software is aligned with Facebook’s Metaverse and will support visualization and design of patient implants.
Singular listed on the ASX for its remarkable technology that can take a 2D or MRI scan and convert it into a three-dimensional image for patients and doctors.
The technology essentially provides a fully interactive 360 degree view of a tumor or other problem area and eliminates the need for highly trained practitioners to interpret problem areas from a 2-dimensional scan.
Singular’s business model is to provide its software as a web service and it has multiple levels that start with a patient wanting to see their tumor or any other problem in 3 dimensions. General practitioners also have access to the software and a more advanced version is available for surgeons who can use it to guide them when planning surgery.
The technology is also able to take 3D scans of a broken jawbone for example and that scan can be used to make a replacement jawbone or other body part using 3D printing – and perhaps unsurprisingly, Singular also has access to 3D printing technology.
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