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Singular Health Group Ltd (ASX:SHG)

ALERT: Price-sensitive ASX Announcement for SHG
Current share price for SHG : $0.160 -0.035 (-17.95%)+
Announcement
Release
29 Sep 2026 8:12AM
Price at Release
$0.195
Full Release
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Summary
Singular Health Group Ltd (ASX: SHG) announced it has signed an amended and restated memorandum of understanding with Florida International University to support delivery of a secure, interoperable Medical Imaging Data Repository for the Florida Medicaid program using Singular Health’s 3DICOM® platform, following a State of Florida appropriation of US$3.0 million for FY2026–27. Under the non-binding MOU, subject to definitive agreements, Singular Health is expected to receive about 85% of the funding, approximately US$2.55 million or A$3.5 million, with payment tied to milestones and full delivery due by 30 June 2027, which the company expects to recognise in FY27 under Australian financial year timing. The project is strategically significant as SHG’s first state-funded infrastructure deployment rather than its traditional per-physician licensing model, and includes a phased program covering platform build, program readiness, and a clinical and economic validation pilot intended to measure whether improved imaging interoperability reduces duplicate scans and costs in a Florida Medicaid population. SHG retains 100% of its platform intellectual property, while a five-year exclusivity with FIU applies only to Florida Medicaid-related projects; future annual state funding for the repository may be pursued but is not assured and depends on successful implementation and approvals.
Key Points
  • Singular Health signed an amended and restated MOU with Florida International University for a Florida Medicaid Medical Imaging Data Repository using 3DICOM®.
  • The State of Florida appropriated US$3.0 million for FY2026–27 for the repository project.
  • Singular Health’s expected share is about 85% of the funding, approximately US$2.55 million or A$3.5 million.
  • The project is subject to definitive binding agreements, with the current MOU non-binding except for the obligation to enter those agreements on minimum terms.
  • Delivery and payment are expected by 30 June 2027, aligning revenue recognition to FY27 on an Australian financial year basis.
  • The repository is intended to be HIPAA-compliant and support authorised providers serving Florida Medicaid beneficiaries.
  • The project includes clinical and economic validation to test whether shared imaging access reduces duplicate scans and costs.
  • Singular Health expects to deliver the project largely with its existing team, supporting operating cash flow improvement.
  • The deployment would be SHG’s first state-funded infrastructure contract, distinct from its existing per-physician licence model.
  • Singular Health retains 100% ownership of its platform IP, including 3DICOM®, repository technology, gateway, MFTP and workflows.
  • A five-year exclusivity arrangement with FIU applies only to Florida projects involving Medicaid members.
  • SHG remains free to pursue commercial and non-Medicaid programs in Florida and any opportunities outside Florida.
  • The project is planned in three phases: platform foundation, program readiness, and clinical and economic validation.
  • Florida Medicaid’s scale is highlighted as strategically important, with the state having about 3.4 million enrollees as at April 2026.
  • FIU and Singular Health intend to seek future annual funding for the repository, but no ongoing funding is guaranteed.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.