Squire Patton Boggs has advised Perth-based medical technology company, Singular Health Group Ltd (Singular Health), on its AU$6 million IPO and ASX listing.
Singular Health is focused on the development of medical software for the visualisation, manipulation and transfer of medical imaging data in 3D and virtual reality. Over the past three years, Singular Health has developed its proprietary Volumetric Rendering Platform (VRP), which can convert traditional 2D radiological images into fully immersive 3D volume rendered models.
The heavily oversubscribed IPO raised AU$6 million via the issue of 30 million shares at an issue price of AU$0.20. Funds raised will primarily be used to support Singular Health’s growth strategy, with a keen focus on scaling its VRP technology, conducting research and development, providing working capital and the purchasing of a titanium 3D printer.
Squire Patton Boggs Corporate partners Chris Rosario and Tony Chong led the transaction and were assisted by senior associate Blair Strickland and associate Alix Poole.
Chris Rosario said: “We are all thrilled to have assisted Singular Health with their successful IPO and ASX listing. This transformative technology Singular Health has created greatly assists those in the healthcare industry and we are proud to be associated with a company in this sector. We look forward to following Singular Health’s journey as a listed company on the ASX.”
Singular Health listed on the ASX on 12 February 2021 with an indicative market capitalisation of approximately AU$20.5 million (based on the IPO issue price).