Safety Medical Products (ASX:SFP) has raised $4.1 million through a capital raising priced at $0.05 per share and will now proceed to complete its acquisition of 3D Medical Limited.
Proceeds from the prospectus will be used for marketing and business development of 3D Medical's business as a seller and marketer of advanced medical technologies including 3D models, software and hardware to Australasian medical professionals.
The company will now seek reinstatement of its shares on the ASX.
3D Medical is focussed on the commercialisation and integration of 3D printing and holographic projection technology into the Australian medical industry.
3D printing in the biotechnology field creates physical three-dimensional models of a patient’s anatomical parts utilising the images and data already captured by conventional diagnostic imaging tools.
The models are unique to the individual patient’s anatomy and can therefore act as a functional and visual aid in reviewing and understanding the complexities of a patient’s condition.
This is particularly relevant in complex pre-surgical planning and patient communication.
Holographic projection is the second launch technology platform for 3D Medical.
They believe that this technology will significantly alter the practice of medicine and will enhance efficacy and workflow at the practitioner level, accelerate and improve medical education and training and offer patients greater insight into their condition and ailment.
