XRHealth raises $6M to provide care through virtual reality

Steven Loeb · January 9, 2024 · Short URL: https://vator.tv/n/57c2

The company also announced the completion of its merger with Amelia Virtual Care

VR and AR are advancing healthcare, transforming patient care, medical training, and therapy. Their evolution involves improved hardware, software, and accessibility. They're implemented in surgery planning, pain management, phobia treatment, and more, enhancing outcomes and patient experiences.

XRHealth one company in this space, and its harnessing the technology to help streamline healthcare processes by operating its own virtual clinics, providing VR/AR technology and data analytics to healthcare providers, so that patients can receive treatment from the comfort of their homes. 

The company, which offers solutions for mental health, physical therapy, and occupational therapy, along with telehealth services and licensing options, will be building out its platform now that it announced a $6 million funding round on Tuesday led by Asabys Partners. NOVA Prime Fund, Clearbrook, and XRHealth's current investors also participated, bringing its total funding to over $40 million.

Founded in 2016, the Boston-based XRHealth operates therapeutic care Virtual Rooms, utilizing proprietary FDA and CE registered medical Extended Reality (XR) technology. It serves a diverse range of customers, catering to different needs: for example, its telehealth service are often used by seniors and children with Autism Spectrum Disorder (ASD), who benefit from XRHealth's immersive therapy and remote monitoring solutions.

"In the B2B segment, mental health therapists and healthcare centers specializing in conditions like PTSD find value in XRHealth's offerings. Additionally, healthcare organizations with inserts in addressing physical and cognitive health leverage XRHealth's platform to enhance patient experiences and deliver effective physical and occupational therapy solutions," Eran Orr, Chief Executive Officer of XRHealth, told VatorNews

"XRHealth's versatility allows it to meet the unique requirements of various healthcare scenarios and demographics."

Currently, around 1,300 health care organizations and individual practices currently use XRHealth. Additionally, it has served more than 3,000 in its virtual clinics in US, Israel and Australia. It is currently reaching 25,000 patients between its B2B customers and its telehealth services.

In addition, XRHealth also revealed that it completed its merger with Amelia Virtual Care, which was initially announced in May of 2023.

"The merger with Amelia Virtual Care has been instrumental in advancing our capabilities and achieving our goals. It has allowed us to significantly expand our solutions portfolio, reinforcing our platform with a more comprehensive suite of mental health solutions," Orr explained.

"This enhancement enables us to effectively address a wide range of conditions, including but not limited to ASD, Phobias, General & Social Anxiety, Stress, Addictive Disorders, Eating Disorders, Bullying, OCD, ADHD, PTSD, and Trauma, including EMDR. This synergy empowers us to better serve our clients and patients, offering a more holistic and robust approach to mental health care."

XRHealth plans to use a significant portion of the new funding on product development, allowing it to continuously enhance and expand the platform's capabilities, including investing in research and development, technology infrastructure, and improving user experience.

Additionally, it will be expanding both domestically and internationally, while also investing in partnerships and collaborations with healthcare organizations and providers. It will also be putting money into marketing and awareness campaigns to reach a broader audience.

"Our ultimate goal at XRHealth is to revolutionize healthcare by leveraging immersive technologies such as virtual and augmented reality. Success for us is defined by four pillars: improving patient outcomes, ensuring healthcare accessibility, driving innovation and expansion, and achieving financial sustainability," said Orr. 

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