XRHealth, a company based in Boston that develops and operates virtual treatment rooms, and Amelia Virtual Care, a Barcelona-based company developing in virtual reality platforms for mental health professionals, have announced their intention to merge into one company called XRHealth. The merger aims to create a therapeutic powerhouse capable of addressing physical and mental health issues through XR technology. The two businesses are expected to deliver significant revenue in the coming months and become the leading XR/VR therapeutic solution in the market with over 500K VR treatments delivered, more than 25K patients treated, and uptake by over 2500 clinicians.
The merger was facilitated by Asabys Partners, a venture capital firm specializing in health innovation and deep tech based in Barcelona and supported by Alantra and Banc Sabadell, and legacy investor at Amelia Virtual Care. XRHealth integrates immersive virtual reality and augmented reality technology, licensed clinicians, and advanced data analytics on one platform, while Amelia Virtual Care offers comprehensive and flexible virtual reality software for mental health professionals to use in day-to-day clinical practices.
“The consolidation of these two VR leading players represent an impactful opportunity to provide therapeutic virtual health care psychotherapy options to patients contributing to solve the mental health pandemic. Both companies cover the needs of patients and healthcare systems with a technological, clinical and efficient approach which represents also an outstanding opportunity for the respective shareholders,” says Josep Ll. Sanfeliu, Managing Partner at Asabys.
According to Miki Levy, XRHealth co-founder and CTO, “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.”
Xavier Palomer, founder and executive chairman of Amelia Virtual Care and Chief Growth Officer for the merged company, says the merger marks the most significant step yet in the company’s rapid growth in recent years. “We’re thrilled to join forces with XRHealth at a time when clinicians are adopting virtual reality as a mainstream tool for delivering high-quality care and engaging patient experiences. While VR is still novel to many patients, it’s a well-proven solution grounded in more than 30 years of research and experience.”
XRHealth CEO Eran Orr, who will remain CEO of the merged company, notes that the merger marks one of the most exciting new developments in the healthcare market. “Hundreds of papers and high volumes of clinical outcomes data have shown how powerful XR is for patients. Now that our industry is maturing, we’re ready to introduce the XR platform that any hospital and clinic can use, designed specifically for the healthcare market. The merger enables us to offer a one-stop shop to diverse players and streamline the technology in a way that will see XR devices adopted for a variety of treatments, with XRHealth leading the way for the entire industry.”
The merger is subject to the execution of definitive contracts and approval by the shareholders of both companies.
