Updated: PAR, Inc. invests in virtual reality training start-up Immertec

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Nov 27, 2019, 11:52 ET

LUTZ, Fla., Nov. 27, 2019 /PRNewswire/ -- PAR, Inc. announced recently it has invested in local start-up Immertec, a company that applies virtual reality technology to medical and surgical training.

Immertec's flagship product, Medoptic, allows remote viewers to access and interact with operating room procedures. A combined hardware and software setup—which includes VR headsets and cameras—enables medical communications to take place in real time across any distance. Virtual medical device training, collaborations on surgical procedures, question-and-answer sessions, and consults with other physicians are all possible with the technology.

A long-term goal is enabling physicians in remote locations to be guided through new procedures, expanding access to improved health care in underserved areas.

"We are very pleased to partner with Immertec. Their team is dedicated to improving the lives of others, and they have worked hard in a short amount of time to bring their vision to life," said Kristin Greco, CEO of PAR. "Their product makes it much easier for medical professionals to learn, conduct trainings, and collaborate with one another—ultimately speeding service and benefiting the patient."

Immertec was founded in 2017 by Erik Maltais and Jon Clagg, who saw an opportunity to use VR technology outside the gaming world. Maltais now serves as CEO, and Clagg serves as CTO.

"By revolutionizing the way physicians train and connect, Immertec is promoting a world where all people have access to the highest standard of care regardless of their physical location, economic status, or nationality," said Maltais. "The company is made up of change-makers, developers, and innovators passionate about expanding the possibilities of health care."

PAR's leadership was drawn to Immertec as an investment because of the start up's passion for helping others combined with its commitment to putting down roots in Tampa—despite offers to move to Silicon Valley. These values are shared across both companies.

"Immertec is pushing the limits of what's possible in virtual health," Maltais said. Greco agreed: "We are just starting to see how this technology can help others and change lives. Venturing in this way aligns well with how we operate at PAR, and we are happy to be on the forefront of this mission."

About PAR, Inc.
Founded in 1978, PAR (parinc.com) is a leading publisher of assessment instruments, software, and other related materials. Over the past three decades, PAR has earned a reputation for providing customers with innovative assessment solutions and unparalleled customer service.

About Immertec
Founded in 2017, Immertec (immertec.com) leverages its patented, 3D, live-streaming technology to broadcast fully immersive virtual reality video and overlays for training applications across a range of industries. The business was created to assist companies with training and observations in real time, regardless of the participant's physical location.

SOURCE PAR, Inc.