VRPhysio Now Exclusively Focused on Medical Software

The Company, VRPhysio has fine-tuned their business strategy model and is now exclusively focused on medical software. This has allowed the company to develop medical software that transforms and VR device in the market to a medical device for rehabilitation purposes. The company has said “To the best of our knowledge, we are the first and only VR rehabilitation device in the world with an FDA 501(k) Class II exemption”.

KEY TAKEAWAYS:

• The company’s ability to transform any VR device to a medical device is extremely important to all the leading VR companies as it gives them access to an entire new market that did not exist up until now.
• The company is currently in negotiations with Microsoft, HTC, Google, Samsung, Facebook and even Apple. The company is expecting to create strategic partnerships along with definitive agreements with these companies during Q2 2017.
• VRPhysio is now billable under CPT codes. In other words, VRPhysio is an approved treatment by medical insurance companies.
• The company will officially launch their first product on May 15^th, 2017. In conjunction with their product launch, the company have signed a preliminary agreement with AARP (American Association of Retired Persons, a non-for-profit association with over 84,000,000 members) the company expects to convert a strategic agreement during Q3 2017.
• Advance negotiations with several other major clients such as The Kessler Institute for Rehabilitation, The United States Department of Veterans Affairs, Stanford university’ Athletic Program and many major hospitals in Boston.

The company have also received great media coverage recently, in particular in my interview with VentureBeat, one of the most influential and viewed tech blogs in the world (VentureBeat is translated to more than 10 languages).

The company’s mission to become a leading global rehabilitation company recently recruited additional employees. In Israel, they opened two new divisions for Artificial Intelligence and VR User Experience, and in Boston are building the marketing, sales and customer service team.

Due to these exciting developments, the company has decided to raise additional capital in order to leverage the advantage as the only player in the VR rehabilitation space. This current capital raise will be in the form of a convertible note with 20% discount (SAFE model) in relation to the company’s valuation, which will be determined in our future Round A financing.

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