XRHealth

On-demand virtual care reinvented

XRHealth

On-demand virtual care reinvented

Brookline, MA
Health Tech
XRHealth Virtual Clinics offer at-home medical and therapeutic treatments through Virtual Reality (VR/AR) and digital health technologies. XRHealth integrates immersive VR/AR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home.

$175,486

raised
46
Investors
$81M
Valuation
$25.63
Price per Share
$256.30
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$175,486

raised
46
Investors
$81M
Valuation
$25.63
Price per Share
$256.30
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into XRHealth:

$5,000+
Investment
Tier 1 perk
($5,000 + free zoom wellness session with an XRHealth professional)
$10,000+
Investment
Tier 2 perk
($10,000 + free VR telehealth kit with lifetime subscription to applications)

Reasons to Invest

  • XRHealth has generated over $1 million in revenue YTD and treated over 2,000 patients. QoQ growth has been 40+% in 2021. With $20M raised to-date from crowdfunding, angel investors, AARP, VCs, and grant-making institutions, we have demonstrated success in fundraising. With this new funding round, we believe we will be able to maintain this robust growth trajectory.
  • Unique Technology in a Large Market: The fast-growth Telehealth Market is predicted to reach a value of $70.19 billion by 2026. XRHealth VR/AR Medical technology generates valuable objective data points and allows telehealth clinicians to tailor individualized treatment plans for each patient. We are protecting our VR/AR telehealth intellectual property through the pursuit of 21 patents (3 approved). 
  • Patient Satisfaction and Clinical Outcomes: We have strong patient satisfaction, evidenced by XRHealth NPS (Net Promoter Score) of 74 (vs healthcare market average of 38) with 72% of patients agreeing we made a positive difference in their symptoms in under two weeks.

Overview


Bringing Patient Care into the Future

XRHealth is pioneering the field of Virtual Clinics, utilizing proprietary FDA-registered medical virtual reality (VR/AR) applications to deliver the care patients need to the comfort of their own homes.


We integrate immersive VR/AR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic at-home care solution.

XRHealth focuses on three main therapeutic areas: pain management, neurological disorders, and behavioral health. We also sell our technology to providers, hospitals, and rehabilitation centers.




The Problem


Current Telehealth Technology Provides Limited Treatment

In the post-COVID world, in-person outpatient clinics are not an option for many patients, including immune-compromised people and those residing in remote locations.


Chronic conditions such as Parkinson’s Disease, Multiple Sclerosis, TBI, Fibromyalgia, Chronic Pain, Stress and Anxiety, etc require constant therapy from multiple disciplines alongside real-time data analytics to manage fluctuations in patient status.


Many of these patients need and expect at-home care, but existing simple video tools like Zoom and basic chat correspondence do not allow full visibility or insight into the patient's at-home treatment and progress. 

THE Market


A Major Growing Industry with Impact Across Healthcare  

The telehealth market is estimated to grow to $70.19 billion by 2026, from $26.4 billion in 2020 at a CAGR of 17.7%. The pandemic doubled the number of people who have used telehealth from 39.4% pre-COVID-19 to 79.5% post-quarantine. 


Our services meet the specific needs of the following patient markets: 



THE Solution


Using Virtual Reality to Deliver At-Home Treatment

According to our research, XRHealth is the first company to use VR-enabled telehealth to change how we treat patients. 


Our platform combines immersive VR/AR technology with telehealth services, licensed clinicians, and advanced data analytics for an all-in-one innovative telehealth solution for patients in the comfort of their own homes. 





Our mission is to provide: 


Accessible care for all

Patients feel better from the comfort of their home, and we are covered by most insurance providers. 


Engaging Experiences

We provide our patients with enjoyable treatments that feel like less work and more fun. Patients use text & video to chat with the clinician, who guides and monitors their treatment in real-time, adjusting therapy remotely in the VR/AR headset. 




Transparent Results

Patients are able to track their own progress using the mobile app to see how they improve and restore function over time. Most patients experience positive results after just one session. 




Why VR/AR in Healthcare?

We have found that the immersive, engaging and fun nature of VR/AR drives significantly higher adherence to home exercise plans, leading to better patient outcomes, reduced re-hospitalization rates, and overall reduced healthcare costs.


It also enables full body motor and cognitive training capable of addressing a multitude of chronic conditions. Our technology generates 100% objective data from each treatment session, allowing us to tailor the treatment to each patient and maximizing functional progress. 


Meanwhile, Data Analytics of chronic condition treatments enable us to improve upon current gold standards for patient/drug clinical outcomes. 




How Our Business Works

XRHealth started as a B2B company, selling our products to hospitals, clinics and rehabilitation centers. Our B2C model was officially launched in the form of our virtual clinics in 2021.  


Virtual Clinics (B2C)


Our virtual clinics provide at-home treatment for our patients through this simple process: 


1. Patients sign up
 for XRHealth services, usually through three main channels: digital marketing (D2C), self-insured employers, and referring physicians.

2. Patients complete an initial comprehensive evaluation over a video call with one of XRHealth’s licensed clinicians and are sent a Telehealth VR/AR kit (on loan) preloaded with VR/AR Medical applications and a custom treatment plan. 
 

3. Telehealth sessions are held twice a week.
 XRHealth clinicians use the  External Control app to control the patient’s VR/AR headset remotely. 

4. Patients use the Mobile App to track progress and chat with the clinician. The clinician monitors patient progress using the Data Portal and adjusts the treatment plan as needed; in-between video sessions, and while the patient is following the treatment plan at home. 


5. Patient’s 
progress reports are shared with PCP or with specialists as needed, and the patient’s insurance company is billed for the service.



XRHealth Products (B2B model)

In our B2B model, inpatient and outpatient facilities partner with XRHealth to expand their skilled therapy and rehabilitation services. We generate revenue throughout the process: 

1. XRHealth installs a state-of-the-art VR station (hardware + software) in the partner’s facility.

2. XRHealth trains the partner’s clinicians to optimize patient outcomes and maximize revenue.

3. XRHealth collects a monthly license fee for use of XRHealth Products.


Our Traction

XRHealth virtual clinics are fully operational and already generating revenue. XRHealth has 50 Million Covered Lives in the US alone, and we have already treated over 2,000 patients. We are growing fast - revenue in Q1-Q3 of 2021 is $1.1 million, a huge increase from a total revenue of $400K in 2020.

We have four fully operational virtual clinics: two in the US (Massachusetts, Michigan, opening a 3rd one in Florida by the end of this year) as well as Australia and Israel. We have logistics centers and dozens of certified clinicians supporting patients in all 3 geographies, including PTs, OTs, Social Workers, Speech Therapists and Psychologists.


We have filed 21 patents for technology, with 3 approved, 14 published, and 4 pending. We also have 8 FDA registered VR/AR Medical Applications and 14 clinical trials running in parallel.

Real world evidence from patients is showing promising clinical outcomes. Our patients demonstrate 91.2% adherence to their home exercise plans, a huge increase from the healthcare market average of 50%. (Source). With a +74 Net Promoter Score (NPS), we have extremely high patient satisfaction compared to the healthcare market average of 38 NPS. (Source

Why Invest



A Vision for Improved Treatments and Better Outcomes

We believe XRHealth can dominate the fast-growing Outpatient Chronic Conditions Care Market globally, serving tens of thousands of patients across multiple care verticals. 



We are changing the way patients are treated. Upon finalizing current clinical trials, XRHealth plans to register its medical VR/AR applications as Digital Therapeutics (DTx) for multiple chronic conditions in three main therapeutic areas: pain management, neurological disorders, and behavioral health. 


To date, the prevailing treatment for these chronic conditions is medication, which can be addictive, expensive, and a source of side effects. Digital therapeutics provide patients a drug-free engaging experience at substantially lower payer costs. 



XRHealth is in a pivotal moment of growth, as we are on the cusp of our full-scale national rollout. We believe in accessibility to all, not only in our services but also in allowing the public to invest and take part in this journey from a very early stage.


Join us as we harness technology and data to provide better clinical outcomes for patients from the comfort of their homes. 

In the Press

Times Magazine

The Coronavirus Outbreak Could Finally Make Telemedicine Mainstream in the U.S.

BBC

How virtual reality can help you manage pain

CNET

VRHealth works with Oculus to bring you at-home exercises using virtual reality

Forbes

See How This Company Uses Virtual Reality To Change Patient Healthcare

Dell

Doctor AI: Medical Exam

VR Focus

VRHealth To Make Its Medical Platform Available For Use At Home

MobiHealth News

VRHealth, AARP launch VR platform for remote patient monitoring, in-home therapy

Rachel Ray Show

Medical Virtual Reality featured on the Rachael Ray Show.

Offering Summary


Company

:

XRHealth, Inc.

Corporate Address

:

1330 Beacon St STE 209, Brookline, MA 02446

Offering Minimum

:

$9,995.70

Offering Maximum

:

$1,069,949.98

Minimum Investment Amount

(per investor)

:

$256.30











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

390

Maximum Number of Shares Offered

:

41,746

Price per Share

:

$25.63

Pre-Money Valuation

:

$80,974,114.87











Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives and Bonuses*

Early Bird

Early Bird Bonus - First 7 days | XRHealth t-shirt

 

Volume

Tier 1 perk - ($5,000 + free zoom wellness session with an XRHealth professional)

Tier 2 perk - ($10,000 + free VR telehealth kit with lifetime subscription to applications)

*All perks occur when the offering is completed.

Irregular Use of Proceeds

We will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$5,023,789.00 USD
$2,307,873.00 USD
Cash And Cash Equivalents
$2,481,903.00 USD
$1,915,708.00 USD
Accounts Receivable
$63,666.00 USD
$99.00 USD
Short Term Debt
$0.00 USD
$23,630.00 USD
Long Term Debt
$750,000.00 USD
$224,443.00 USD
Revenues And Sales
$399,475.00 USD
$143,955.00 USD
Costs Of Goods Sold
$221,914.00 USD
$52,431.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$7,321,831.00 USD
-$2,816,081.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

The Patents Are Rolling In! XRHealth Received a Patent to Measure Sway and Conduct Fall Risk Assessment in VR/AR

10 days ago

We're pleased to announce our newest patent approval to help prevent falls that can cause seniors serious injuries.This patent will assess sway and conduct fall risks using virtual reality and augmented reality therapy. 

According to the CDC, 1 out of 5 falls results in serious injuries like broken bones or head injuries. But we believe this can be prevented with our new assessment tool. Now, we can predict the likelihood that a senior may fall, which can potentially prevent a serious or debilitating injury. 

The "Assessing Postural Sway in Virtual Reality or Augmented Reality" patent secures our ownership of this potentially disruptive technology in Medtech. Our VR/AR platform can decrease risks of falling by collecting 'sway' data from our headsets and hand sensors to measure the center of mass. When a patient is immersed in the immersive computerized environment via AR/VR technology, the program can simulate a situation to push off balance. The algorithms then calculate the risk of falling.

As the patient enters the virtual/augmented reality environment, it simulates a situation where the user is unbalanced. The data on position and center of mass is then sent to a server to determine if the person poses a risk for falling, which can potentially protect the patient in the real world.  “When treating elderly patients, the ability to measure sway accurately in an AR/VR therapeutic process can potentially prevent falls that can result in long-term disabilities,” said Eran Orr, CEO of XRHealth. “The advantage of using XR to measure sway is that patients can do this from the comfort of their home, during routine extended reality therapy.”

This is a game-changer to the 3M seniors who enter the emergency room each year to treat injuries like hip fractures due to falls.

We were chosen! XRHealth was chosen to be part of the digital health program of the new Metaverse

12 days ago

(Photo: Welcome session at Meta with XRHealth marketing team members enjoying their personalized cookies. L-Yael Lipskin, Director of Telehealth Product; M-Ohad Galitz, Digital Marketing Manager; R- Sagie Grunhaus, VP Product)

XRHealth is proud to announce that we've been selected to participate in the first Meta (fka Facebook) Digital Health Growth Program.

This exclusive 12-week program aims to accelerate the success and growth of digital health startups in Israel, the home country of our founders. We'll be given additional tools, guidance, mentorship, and networking opportunities from one of the biggest technology disrupters who knows first-hand how to scale up a simple idea to a massive, global operation.

We're 1 out of 12 early-stage startups selected out of hundreds in the digital health verticals. We're more thrilled to be given this opportunity to develop skills to scale up! 

Woo hoo! XRHealth reached its first milestone in less than a week- $100K raised!

14 days ago

We are excited to announce that we've raised $100K in funding from this StartEngine campaign. The XRHealth team is on a mission to transform the way chronic conditions are treated via advanced technology and every dollar helps us support that mission! We thank you, investors, from the bottom of our hearts!

People who use our telehealth services combined with virtual reality (VR) celebrate this new game-changer in healthcare. Not only is it fun, but it also works! It is clear that the future of modern healthcare is here now.

If you haven't invested yet, we invite you to be part of the next big thing in treating chronic conditions or behavioral needs like pain, anxiety, neurological conditions, children on the autism spectrum, and more.

Invest in the Future of Healthcare Now


Welcome! Are you ready to take part in the future of healthcare?

15 days ago

The future of healthcare is here with VR therapy and we'd like to invite you to be part of it!

We have been working diligently to address chronic conditions via VR/AR technology for the past two years and now we are ready to scale up.

So far, XRHealth has:

  • given treatment access to 50M people in the US via insurance plans.
  • created 4 fully operational VR/AR clinics (nationally and internationally), with 10 expected to follow in the next year.
  • generated over $1M in revenue since the launch of the VR/AR telehealth clinics this year.
  • provided over 100K VR/AR therapy sessions to date 
  • achieved 40% QoQ market growth.

It wasn't easy. But our team had one mission: to give people suffering from chronic conditions a better quality of life. Witnessing people improving their lives daily gave us the fuel we needed to strive to develop the best combination of services and apps possible.

Now, we believe we have all the ingredients it takes to take XRHealth virtual clinics across the US and to establish ourselves as the industry leader for VR/AR healthcare.

With your help, we can take on the next challenge: to take VR/AR therapy across the states and globe with top-notch licensed therapists using the most advanced, yet easy-to-use technology available.

Will you join us?

pss. Ever hear that the early bird gets the worm? We have one day left of the early bird kick-off for early-adopters like you. 

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