SYDNEY, AUSTRALIA: Singular Health Group (ASX: SHG) has entered into an asset sale settlement to acquire sure 3D printing assets, associated plant and equipment, mental property and take over the bulk of Global3D Pty Ltd’s existing medical focused 3D printing business.
Global3D is a West-Australian firm offering superior 3D printing services from a longtime ISO-9001 accredited facility 20 km south of Perth, Western Australia.
The facility located in Bibra Lake, roughly 20km South of Perth, Western Australia, has been fitted out with three industrial printers, post-processing and clear rooms, and a mezzanine workplace space for on-site design work.
This leased facility is included inside the transaction and Singular Health will novate the lease upon completion.
The acquisition of Global3D’s assets will see Singular Health’s newly incorporated, and wholly-owned, subsidiary Singular 3DP Pty Ltd, make investments between $100,000– $150,000 in upgrading the existing ISO9001 licensed high quality system to the ISO13485:2016 standard, in addition to improved post-processing plant and equipment.
The former will allow for the future 3D printing of higher-risk surgical guides and implantable medical devices, whereas the latter will enhance the standard of Global3D’s existing low-risk ankle-foot-orthoses (AFOs) and prosthetic check sockets to broaden the buyer base and generate additional sales.
This acquisition follows a long-standing review of the binding heads of settlement entered into between Singular Health and Global3D to include a 50/50 three way partnership for medical 3D printing previous to the Company’s 2021 IPO, which decided that a 100% possession of a 3D printing facility would present greater long-term growth alternatives for Singular Health shareholders.
Thomas Hanly, Singular Health’s Managing Director, said: “Singular Health’s Scan to Surgery initiative is a vertically-integrated course of for the design and manufacturing of patient-specific medical devices that requires the mixture of the Company’s 3Dicom Software with superior additive production.
“This acquisition of Global3D’s enterprise and assets in conjunction with our funding in Australian Additive Engineering in Melbourne provides a distinctive nationwide protection for the design and 3D printing of affected person particular medical implants and prosthetics.”
The consideration payable to Global3D comprises 5.5 million fully paid ordinary Shares and 1.72 million freely attaching unlisted choices to purchase shares in Singular Health with an train price of $0.20 and a time period of three years from completion.
Global3D will have the chance to earn as much as a additional 900,000 Shares and 280,000 freely attaching unlisted Options in reference to an earn-out triggered inside the occasion Singular 3DP achieves gross income inside the twelve months following completion of the transaction in extra of $550,000 (subject to Singular 3DP additionally achieving an EBITDA margin equal to or greater than 10% on gross income throughout the identical period).