XRHealth Raises $7M for Telehealth Expansion

XRHealth has raised $7 million to expand its telehealth platform, with the goal of providing clinicians and patients with virtual and augmented reality therapy. The funding will also increase access to virtual support groups for people with multiple sclerosis and other diseases.

Telehealth broadly refers to the use of technology to support long-distance healthcare, such as, for example, talking to a doctor via video chat, rather than physically going to a hospital. This kind of technology is particularly useful during infectious disease outbreaks like the COVID-19 pandemic, as it allows people to receive care while still safely abiding by distancing guidelines.

“Telehealth has emerged on the medical scene as a crucial medium of care for patients throughout the world,” Eran Orr, CEO of XRHealth, said in a press release.

“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,” he added.

According to the company, XRHealth is the first company to create virtual reality (VR) clinics to provide remote healthcare to people living in the United States. This resource is covered by most health insurers, as well as Medicare. 

These clinics also feature virtual support groups, where people with the same condition can anonymously connect online with each other in sessions moderated by a physician.

XRHealth currently offers support groups for conditions including multiple sclerosis, Parkinson’s disease, breast cancer, menopause, anxiety, chronic pain, fibromyalgia, substance abuse, stroke, brain injury, and others.

The new $7 million in fundraising was led by the investment groups Bridges Israel, Flint Capital, and 20/20 HealthCare Partners.

“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,” said Sergey Gribov, partner at Flint Capital. “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: “XRHealth platforms’ unique capabilities can change the future of medicine as some of its core characteristics address critical challenges of current practices. We are confident that a wide implementation of its platform will improve therapy accessibility, efficacy, and affordability to address variety of physical and mental conditions.”