Singular Health Group (ASX:SHG) said the State of Florida has appropriated nearly AU$4.2 million to Florida International University for fiscal 2026 to fiscal 2027 to build a Medical Imaging Data Repository, with Singular Health to design, deliver and operate the repository using its 3DICOM platform under a memorandum of understanding, according to a Tuesday Australian bourse filing.

The company said its share of the funding is about 85%, equivalent to AU$3.5 million, to be paid on milestones with delivery and payment by June 30, 2027 or earlier, representing about 2.5 times fiscal 2026 revenue of AU$1.43 million and three times the annual contracted value of the company's largest existing customer agreement.

Florida International University, in collaboration with Singular Health, intends to seek future annual funding from the State of Florida for use of the repository, broadly comparable to or potentially greater than the initial $3 million funding, the company added.

The company's shares fell 3% in recent Tuesday trade.