The funding comes at a time when millions of people are isolated due to COVID-19 and require various telehealth solutions that provide high-quality care and enable patients to adhere to self-distancing precautions
Fremont, CA: Extended reality and therapeutic applications company XRHealth raised USD 7 million in a funding round led by Bridges Israel, Flint Capital, and 20/20 HealthCare Partners. The new funds will be used to expand the company's telehealth platform to support more clinicians and patients for virtual/augmented reality therapy. The funding comes at a time when millions of people are isolated due to COVID-19 and require various telehealth solutions that provide high-quality care and enable patients to adhere to self-distancing precautions.
"Telehealth has emerged on the medical scene as a crucial medium of care for patients throughout the world," says Eran Orr, CEO of XRHealth. "Virtual and augmented reality technologies offer a unique platform for patients to be treated since they are immersed in a world that is designed completely to help them heal. We have taken this a step further by adding support groups and virtual clinics so that anyone can receive the care they need, no matter where they are."
XRHealth is the first company to create virtual reality clinics that provide remote care to patients throughout the United States and is covered by most major health insurance companies as well as medicare. The company offers virtual support groups, where patients with similar conditions can connect anonymously and remotely with leading physicians moderating the group. These health groups are tailored for patients with conditions like Multiple Sclerosis, Parkinson's, breast cancer, menopause, an injury that affects motor function, anxiety, chronic pain, fibromyalgia, substance abuse, post-stroke rehabilitation, brain injury, and others.
"We are excited to join XRHealth, which offers a comprehensive VR-based telehealth platform for healthcare providers, allowing them to treat patients both in clinics and at patients' homes, making therapy continuous and efficient. This is a win-win solution for both care providers and its recipients, that became extremely relevant nowadays, as patients can get effective treatment without leaving their homes," says Sergey Gribov, Partner at Flint Capital. XRHealth utilizes the power of virtual reality to rehabilitate patients through an immersive and engaging experience that is designed to turn the routine treatment into a fun activity to increase patient compliance.