Medtech company Singular Health (ASX:SHG) has continued the hot streak of IPOs in 2021.

Singular Health has a medical imaging technology that can convert 2D images into 3D or virtual reality models which is delivered under a software as a service model.

These models provide doctors with a better visualisation of the relevant parts of a patient’s body.

The company’s flagship product, MedVR, is listed on the Australian Register of Therapeutic Goods and is used in several other countries including Brunei, Hong Kong, Singapore, South Africa and Switzerland.

It was first developed by Perth oncologist Jason Tan in 2017 to assist with planning surgeries. It has continued to be enhanced in-house.

The company intends to use IPO proceeds for sales and marketing, research and development as well as the purchase of a titanium 3D printer, among other purposes.

Singular Health raised $6 million at 20 cents per share under the IPO offer and upon debut rose to 38 cents – an 90 per cent premium.

Singular Health (ASX:SHG) share price chart


The hot run for IPOs in 2021 continues

Singular Health joins a growing cohort of medical imaging stocks, including some that have likewise undertaken an IPO in recent months.

The most recent is 4D Medical (ASX:4DX) which listed in August last year and has nearly tripled since its debut.

Others include Integral Diagnostics (ASX:IDX), Mach7 Technologies (ASX:M7T), Sonic Healthcare (ASX:SHL) and Pro Medicus (ASX:PME).

The latter of these is most noteworthy, having grown from under 50 cents to over $45 in the last eight years thanks to success in the US market.

It also continues a hot run for IPOs in 2021 with the majority of companies to list having notched up solid gains since listing.