XRHealth buys NeuroReality in health XR marriage
Screenshot from NeuroReality's Koji's Quest game
Two players in medical extended reality (XR) – XRHealth and NeuroReality – have come together in a quest to build the biggest company in the sector.
Boston, US-based XRHealth is leading the deal, acquiring NeuroReality of the Netherlands for an undisclosed sum, combining their products and expertise in the use of XR and virtual reality software for healthcare applications.
NeuroReality's flagship product is Koji's Quest – a virtual reality-based gaming software that can assist people who need rehabilitation after conditions like stroke, traumatic brain injury, long COVID, or simple ageing.
The game guides patients through activities to help them regain the functionality required for everyday activities, employing the concept of neuroplasticity where, through the use of mental and physical exercises and newly learned experience, it can create and reorganise connections and pathways in the brain.
The two companies have been working together for some time, as XRHealth licensed NeuroReality's cognitive training program for use in its virtual clinics, which provide at-home care for patients needing rehabilitation, cognitive assessment, pain management, and other treatments.
Koji's Quest will slot into that portfolio, which was expanded last year by XRHealth's merger with Spanish player Amelia Virtual Care, a specialist in VR therapies for mental health applications.
Figures from market research company IMARC suggest that the global market for XR and VR technologies in healthcare was worth $4.5 billion in 2022, but will grow rapidly to reach more than $20 billion in 2028.
IMARC predicts that explosive growth will be driven by the use of XR and VR in gamified physical therapy and immersive therapies for mental health patients as well as training for healthcare professionals and telemedicine delivery, areas that cut across XRHealth's expanded portfolio.
XRHealth's chief executive and founder, Eran Orr, said the company is on a mission to build "the biggest XR in healthcare platform in the world," adding that there is "more to come" – with the help no doubt of the company's recent $6 million funding round earlier this year led by Asabys Partners.
"We are focused on creating a transformative experience for patients and clinicians alike, and Koji's Quest will allow us to offer an even richer, more engaging set of tools for therapy and rehabilitation," continued Orr.
