STAT+: XRHealth makes another acquisition, aiming to be a leading virtual provider using VR
XRHealth is acquiring RealizedCare, a company that couples immersive experiences with coaches for chronic pain management.
XRHealth is on a shopping spree, buying three companies in as many years, as it aims to build a leading platform for therapeutic virtual reality. The latest: It’s acquiring RealizedCare, a company that couples immersive experiences with coaches for chronic pain management.
XRHealth and RealizedCare own assets for a range of virtual reality headset-based experiences designed to help treat mental health, chronic pain, and other conditions. The combined entity would operate in the same space as other virtual providers — such as Omada, Sword and Hinge Health — in a marketplace with few providers leveraging VR. AppliedVR, which makes a Food and Drug Administration-cleared treatment for chronic lower back pain, is a notable competitor using VR headsets.
The combination comes as many health tech startups are having trouble raising money, forcing some to sell rather than shut down. Aaron Gani, the CEO of RealizedCare, said the company looked around for investment before choosing to sell to XRHealth because of a shared vision of how to grow a sustainable health VR business around being a provider, rather than just a developer of technology to support care.
