XRHealth raises $7 million for telehealth expansion

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XRHealth, whose platform offers immersive therapeutic apps for conditions such as anxiety and stress, opened its first telehealth clinic on 1 March in a number of US states

Quick read

➨ XRHealth has raised $7 million in funding 
➨ Bridges Israel, Flint Capital and 20/20 HealthCare Partners led the funding round
➨ Telehealth has emerged on the medical scene as ‘a crucial medium of care’

The story

XRHealth has raised $7 million in funding to expand its increasingly relevant telehealth platform to support more clinicians and patients for VR and AR therapy.

Bridges Israel, Flint Capital and 20/20 HealthCare Partners led the funding round for Israel- and US-based immersive healthcare company XRHealth, at a time when social isolation brought about by the coronavirus pandemic and lockdowns has made telehealth solutions much more compelling.

XRHealth, whose platform offers immersive therapeutic apps for conditions such as anxiety and stress, opened its first telehealth clinic on 1 March in a number of US states, with more to be added.

Through the service, XRHealth VR telehealth clinicians provide an initial patient assessment, ship a VR headset to patients who do not currently have access to one, train them on how to use the technology, provide ongoing telehealth care and remote monitoring using video call and VR technology, and manage insurance billing for patients.

Benefits for patients include clinical staff being able to control the VR unit remotely and adjust treatment and settings in real time. Once trained, patients can use their headsets independently while data from the therapy is stored and analysed so that clinicians can monitor status regularly while in compliance with privacy rules. Once a week, a report will be generated to the payer/provider that referred the patient.

XRHealth has also virtual support groups, where patients with similar conditions can connect anonymously and remotely with leading physicians moderating the group.

They are tailored for patients with multiple sclerosis, Parkinson’s disease, breast cancer, menopause, anxiety, chronic pain, fibromyalgia, substance abuse, post-stroke rehabilitation, brain injury and others. XRHealth said that patients have found that particularly during self-distancing, they could receive care while in the comfort of their home.

“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.”

Eran Orr, chief executive officer of XRHealth

Telehealth has emerged on the medical scene as “a crucial medium of care” for patients throughout the world, according to Eran Orr, chief executive officer of XRHealth.

He continued: “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.”

Sergey Gribov, partner at Flint Capital, said: “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.”

Gal Hayut, managing partner at Bridges Israel, added: “We are confident that a wide implementation of [XRHealth’s] platform will improve therapy accessibility, efficacy and affordability to address a variety of physical and mental conditions.”

Earlier this year, XRHealth’s Orr told VRWorldTech Magazine that he wants the platform to become a “one-stop-shop” for hospitals, rehab centres and insurance companies that care for and manage the welfare of patients dealing with injuries and illnesses treatable with immersive tech.

Image: Shots of various therapeutic apps available on the XRHealth platform
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