XRHealth Secures $10M in Funding to Expand Virtual Reality Healthcare Treatment in the Metaverse
Funding Backed by HTC, Bridges Israel, AARP, Crowdfunding on StartEngine.com, and existing investors
Feb 28, 2022, 08:00 ET
BOSTON, Feb. 28, 2022 /PRNewswire/ -- XRHealth, the gateway to the healthcare metaverse, announced today that they raised $10M in funding to expand virtual healthcare treatment in the Metaverse. The funding was backed by HTC, Bridges Israel impact investment fund, AARP, and crowdfunding on StartEngine.com and existing investors.
"Together, we're taking the next step in growing the open ecosystem and providing greater access to care while reducing costs. Interoperability is key and working with XRHealth opens a world of possibilities in using technology for good," said Cher Wang, HTC Co-Founder and Chairwoman.
In a recent McKinsey report, the economic opportunity of virtual healthcare is presented as a possible quarter trillion dollar market. Virtual treatment rooms provide further opportunities for clinicians to expand their business, improve access for patients to receive care, and creates the simplicity and comfort for users to engage in therapeutic treatment from the comfort of their home. As a pioneer of virtual healthcare treatment, XRHealth is creating a major imprint on the healthcare metaverse presence by expanding their accessibility to patients worldwide, connecting patients with treating clinicians.
"XRHealth is putting Virtual Clinics into users' pockets at a critical time in the changing landscape of the medical delivery and the technology industry," says Eran Orr, Chief Executive Officer of XRHealth. "We are leveraging these changes to create a new form of healthcare that is accessible at any time of day, from any location in the virtual environment of the metaverse, where treatment can be personalized and adjusted based on real-time analytics."
"Widely covered by insurance providers XRHealth's virtual clinics inclusively improves access to quality care and enhances the efficacy of healthcare treatment," says Gal Hayut, Managing Partner at Bridges Israel and a member on XRHealth's board. "As an impact-tech investor we see the company's growth, positive clinical results alongside high patients' satisfaction as an indication of its tangible impact on patients' wellbeing."
XRHealth's platform is FDA and CE registered and provides an immersive experience for users, transporting them to a virtual world for comprehensive therapeutic care. Patient care is covered by Medicare and is available under most major insurance providers.
XRHealth is revolutionizing healthcare, bringing patient care into the Metaverse. The company operates state-of-the-art therapeutic care Virtual Rooms, utilizing proprietary FDA and CE registered medical Extended Reality (XR) technology (virtual and augmented reality). XRHealth integrates immersive XR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home. The company offers a variety of patent-pending solutions from rehabilitation services to cognitive assessment and training to pain management. XRHealth works with several world-renowned U.S. healthcare providers, hospitals, and rehabilitation centers. Founded in 2016, XRHealth is headquartered in Boston, Massachusetts and its R&D center is located in Tel-Aviv, Israel. For more information, visit https://www.xr.health/.
HTC VIVE is the premier virtual reality (VR) platform and ecosystem that creates true-to-life VR experiences for businesses and consumers. The VIVE ecosystem is built around premium VR hardware, software, and content. The VIVE business encompasses best-in-class XR hardware; VIVEPORT platform and app store; VIVE Enterprise Solutions for business customers; VIVE X, a US$100M VR business accelerator; and VIVE ARTS for cultural initiatives. For more information, please visit www.vive.com.
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.
About Bridges Israel
Bridges Israel is an impact investment fund which invests in Israeli companies in order to generate competitive financial returns alongside significant measurable social and environmental Impact. Founded in 2018 and managed by Sandrine Montsma, Gal Hayut and Ran Grodecki, Bridges Israel is an independent affiliate of Bridges Fund Management (BFM), one of the world's leading sustainable and impact investors.
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