July 19, 2024

Drgreesh

Health Can Do

Virtual reality companies XRHealth and Amelia Virtual Care merge

2 min read
Virtual reality companies XRHealth and Amelia Virtual Care merge

Boston-based virtual reality platform XRHealth and Barcelona-based Amelia Virtual Care, a VR platform for mental health professionals, announced their intention to merge into one company under the XRHealth brand name. 

XRHealth’s platform allows patients on the autism spectrum and those with stress and anxiety, chronic pain, fibromyalgia and neurological conditions to connect with a provider via telehealth and receive recommended therapies on a virtual reality headset sent to the patient’s home. Data is collected and transferred to the provider, and patients can track their process via XRHealth’s mobile app. 

Amelia Virtual Care, formerly Psious VR, offers a virtual reality platform for mental health professionals to perform assessments and provide interventions, such as mindfulness, relaxation, gradual exposure and psychoeducation. 

The finalization of the merger is subject to shareholder approval from both companies.

“With our merger, we now have an end-to-end product that addresses privacy and security, multiple use cases with a variety of content, compliance and regulation, and operational tools to support scale (including real-time and asynchronous control of treatments and treatment plans, connectivity, integrations to EHR/CRM, and lines of communications).

“This solution is ideal for providers and third-party companies that want to help revolutionize healthcare with a XR software without investing time and money into building all the supporting infrastructure. We have a growing number of content partners today and expect this to increase dramatically after this merger,” Miki Levy, cofounder and CTO of XRHealth, said in a statement.  

MARKET SNAPSHOT

In 2020, XRHealth scored $7 million in funding to expand its telehealth platform and a $450,000 grant from the Israeli Innovation Authority to provide Israeli hospitals with telehealth services to combat the effects of COVID-19. Last year, the company announced it raised $10 million in funding. 

Last year, Amelia Virtual Care raised €7 million ($7.73 million) in funding.

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