Singular Health set to land $3.5M slice of Florida Medicaid imaging play

The West Australian09-29

Perth-based medical technology company Singular Health Group has inked an amended memorandum of understanding with Florida International University, putting it in line to pocket US$2.55M ($3.5M) to ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingular Health set to land $3.5M slice of Florida Medicaid imaging play\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-29 03:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/business/bulls-n-bears/singular-health-set-to-land-35m-slice-of-florida-medicaid-imaging-play-c-22941883><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Perth-based medical technology company Singular Health Group has inked an amended memorandum of understanding with Florida International University, putting it in line to pocket US$2.55M ($3.5M) to ...</p>\n\n<a href=\"https://thewest.com.au/business/bulls-n-bears/singular-health-set-to-land-35m-slice-of-florida-medicaid-imaging-play-c-22941883\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RSPH","symbol_name":"Invesco S&P 500 Equal Weight Health Care ETF","start_time":0,"source_url":"https://thewest.com.au/business/bulls-n-bears/singular-health-set-to-land-35m-slice-of-florida-medicaid-imaging-play-c-22941883","article_id":"2671260681","we_media_id":null,"thumbnails":["https://images.thewest.com.au/publication/C-22941883/2ddbfd39778760c9c49284a0edd085a3c3abd66d.jpg"],"rights":{"source":"thewest_stock","url":"https://thewest.com.au/business/bulls-n-bears/singular-health-set-to-land-35m-slice-of-florida-medicaid-imaging-play-c-22941883","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2671260681","pubTimestamp":1790624934,"columns":[],"sourceInfo":{"source_id":"thewest_stock","name":"The West Australian"},"weMediaInfo":null,"summary":"Singular Health Group is set to pocket a $3.5m share of a major Florida Medicaid imaging project, worth the equivalent of 2.5 times its FY26 revenue, to build a state-funded imaging repository.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"RSPH":"Invesco S&P 500 Equal Weight Health Care ETF","BK4185":"保健护理机构","PACS":"PACS Group"},"translate_title":"Singular Health 将获得 350 万美元的佛罗里达州医疗补助影像业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RSPH":1.5,"PACS":1},"content_text":"Perth-based medical technology company Singular Health Group has inked an amended memorandum of understanding with Florida International University, putting it in line to pocket US$2.55M ($3.5M) to build and operate a medical-imaging repository as part of Florida’s Medicaid program.Florida has allocated US$3M ($4.17M) to Florida International University (FIU) for 2026–27. The memorandum assigns 85 per cent, or US$2.55M ($3.5M), to Singular for design, integration, cybersecurity, delivery and operation, with FIU retaining the balance for governance and compliance.The proposed payday is 2.5 times Singular’s $1.43M 2026 financial-year revenue and three times its largest annual customer contract. Subject to binding contracts, the deal is set to deliver the company’s first repository revenue and shift its US model from annual software licences to government-funded healthcare infrastructure.Powered by Singular’s proprietary 3DICOM platform for viewing, analysing and sharing scans, the repository would use its Medical File Transfer Protocol (MTTP) to move images securely between disconnected systems, meeting US Health Insurance Portability and Accountability Act requirements.Singular’s wholly owned US subsidiary is expected to deliver the work outside its commercial joint venture with Miami-based managed service organisation Provider Network Solutions (PNS), leaving all revenue with the company. The partnership’s January 2025 proof-of-concept retrieved and processed images in minutes rather than hours or days, leading to a deal covering 1000 licences worth US$800,000 (A$1.14M) annually, revenue Singular expects to renew and expand.The project targets a costly blind spot in US healthcare: fragmented medical-imaging records. Scans are often marooned in separate picture archiving and communication systems (PACS) across hospitals and clinics, hindering clinician access. This can trigger repeat scans, delayed diagnoses, higher costs and avoidable radiation exposure. Singular cites estimates of unnecessary US imaging costs as much as US$30 billion annually.With Florida’s Medicaid system serving 3.4 million people as at April 2026, nearly all through managed health plans, the pilot offers a sizeable proving ground for Singular’s national ambitions.Florida has a history of leading Medicaid innovation, and what FIU and Singular Health are going to deploy and measure here has the potential to become a blueprint for Medicaid programs across the country.Singular Health Group managing director and chief executive officer Denning ChongTurning Singular’s US domestic ambitions into reality requires final contracts. Although largely non-binding, the memorandum commits the parties to definitive agreements on its minimum terms. Statements of work will set milestones and payments, with delivery and full payment due by June 30, 2027, subject to completion. Unspent funding lapses then.Phase one work will focus on infrastructure, security architecture and connecting initial data sources, with management planning to use its existing workforce to deliver the task.Phase two will select the pilot group and evaluation method and secure regulatory, privacy, data-governance and institutional approvals. Phase three will then test clinical, operational and economic outcomes against agreed success measures, including duplicate scans and their cost. Revenue from all three stages is expected to be recognised in the 2027 financial year.While Florida will own the data, Singular believes the metrics could support pitches to health plans and states, staged expansion and a proposed share of payer-verified savings. Management says the cloud architecture is likely to support later deployments without rebuilding the platform, although a second rollout would be needed to prove repeatability.After delivery, Florida International University and Singular intend to seek annual Florida State funding equal to or greater than the initial US$3M. Any extension requires successful implementation, demonstrated outcomes and future state budget, university and regulatory approvals.Singular retains 100 per cent of its platform intellectual property, while a five-year exclusivity applies only to Florida Medicaid work, leaving it free to chase non-Medicaid opportunities in Florida and any program outside the state.For a Perth-based company, landing a state-funded infrastructure project in the world’s biggest healthcare market is no small feat. While hurdles remain, a successful pilot could hand Singular a mighty calling card to tackle a multi-billion-dollar imaging problem across America’s 66.7 million-member Medicaid market.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2671260681","isCrawlerRequest":true}