Highlights

  • Singular Health is progressing a medical imaging repository initiative with Florida International University.
  • The proposed arrangement provides for approximately AUD 3.5 million in milestone-based funding for Singular Health, subject to definitive agreements.
  • Its 3DICOM technology enables medical image sharing and interactive three-dimensional visualisation.
  • The Florida initiative will evaluate whether improved access to existing scans can reduce unnecessary repeat imaging and healthcare costs.

Singular Health Group (ASX:SHG), an Australian healthcare technology company specialising in medical imaging interoperability and three-dimensional visualisation, is expanding the commercial application of its 3DICOM software platform in the United States.

Led by managing director and chief executive Denning Chong, the company is pursuing opportunities to improve access to existing diagnostic images across healthcare systems. Its recent agreement framework with Florida International University represents an important step towards evaluating 3DICOM within a publicly funded healthcare program.

3DICOM Technology Targets Duplicate Medical Imaging

Singular Health Group (ASX:SHG) has developed 3DICOM to address limitations associated with medical imaging accessibility, sharing and visualisation.

Healthcare providers frequently operate separate imaging systems, which can make it difficult to access scans previously completed at another medical facility.

When existing images cannot be located or transferred, clinicians may need to repeat examinations, potentially increasing healthcare expenditure and delaying treatment decisions.

The 3DICOM platform incorporates medical image transfer technology designed to enable secure sharing between different healthcare systems.

It also converts conventional CT, MRI and PET imaging data into interactive three-dimensional models, helping clinicians and patients better understand anatomical structures.

The company aims to improve healthcare coordination by making existing imaging records more accessible. However, the extent to which this reduces unnecessary scans requires evaluation through actual clinical deployment.

Florida Medicaid Repository Introduces New Commercial Opportunity

On 29 September 2026, Singular Health Group (ASX:SHG) announced an amended and restated memorandum of understanding with Florida International University.

The arrangement concerns the development of a secure medical imaging data repository supporting Florida's Medicaid healthcare program.

The State of Florida allocated USD 3 million to the university for FY2026–27 to support the initiative.

Under the proposed arrangement, Singular Health would receive approximately 85% of the allocated funding, equivalent to USD 2.55 million or approximately AUD 3.5 million.

The company would be responsible for technical design, systems integration, cybersecurity, delivery and operation of the repository.

However, the memorandum is largely non-binding and remains subject to definitive agreements and statements of work.

Therefore, the proposed funding should not be treated as revenue already earned or received.

Proposed Repository Will Support Staged Implementation

Singular Health Group (ASX:SHG) intends to undertake the Florida project through a staged implementation process.

The initial phase will focus on establishing technical infrastructure, security architecture and connections between participating healthcare systems.

Subsequent work will involve selecting pilot participants, obtaining necessary approvals and establishing clinical evaluation procedures.

The final evaluation stage will assess operational performance, clinical usability and potential economic benefits.

An important objective is to measure whether access to existing medical images reduces duplicate examinations and associated healthcare costs.

Florida's Medicaid program covered approximately 3.4 million individuals as of April 2026, although the proposed repository will initially serve a defined pilot population rather than the entire enrolment base.

Project Funding Could Support FY27 Revenue

Singular Health Group (ASX:SHG) reported revenue of approximately AUD 1.43 million for FY26.

Its proposed AUD 3.5 million share of the Florida funding is therefore significant relative to its historical operating revenue.

Subject to definitive agreements and successful delivery, the company expects to recognise its share of project funding during FY27.

Milestone payments are proposed to be completed by 30 June 2027.

The arrangement could introduce project delivery revenue alongside Singular Health's existing software licensing activities.

However, the actual financial contribution will depend on contract execution, project milestones, implementation costs and accounting recognition requirements.

Existing Licensing Activities Support US Expansion

Singular Health Group (ASX:SHG) has previously established commercial relationships with healthcare organisations in the United States.

Its agreement with Provider Network Solutions covers 1,000 3DICOM licences for healthcare providers.

The company's technology is designed to improve medical image accessibility and support clinical workflows across participating provider networks.

These existing relationships provide experience in deploying imaging technology within US healthcare environments.

The Florida repository initiative represents a different commercial model, involving infrastructure development and system-wide integration rather than solely individual software licences.

Key Insights

As of 12 October 2026, Singular Health Group (ASX:SHG) is advancing its strategy of expanding 3DICOM into larger healthcare networks.

The proposed Florida Medicaid repository provides an opportunity to evaluate medical imaging interoperability within a publicly funded healthcare setting.

Near-term milestones include executing definitive agreements, establishing project delivery requirements and progressing the pilot program.

Longer-term expansion will depend on demonstrated clinical and economic outcomes, additional funding approvals and new commercial agreements.