MediView XR, Inc. Secures $15M Strategic Funding Round with Backing from Leading Collaborators across Clinical, Industry and Government
May 16, 2023
Financing will further enable scale up of MediView’s augmented reality surgical navigation, medical imaging and remote collaboration platform.
CLEVELAND, May 16, 2023 /PRNewswire/ — MediView XR, Inc., a leading clinical augmented reality med-tech company, announced today that it has secured $15M in strategic funding from Mayo Clinic, Cleveland Clinic, GE HealthCare, JobsOhio Capital Growth Fund, Inside View Investments, LLC, and KKVS Syndicate, with additional commitment to the next funding round.
MediView combines augmented reality with surgical navigation to provide surgeons and healthcare professionals with revolutionary 3D “X-Ray vision” through the skin for minimally invasive procedures. The new financing will enable establishing and expanding MediView’s multi-tier platform offering with focus on generating additional clinical evidence, product development, intellectual property, regulatory, and commercial milestones, and product launches.
“We are energized by the backing of influential and strategic investment collaborators spanning healthcare, industry, financial and government sectors who recognize the growing clinical and industry adoption and value of clinical mixed reality solutions,” said Mina S. Fahim, President and CEO of MediView. “Expanding industry and clinical partnerships and collaborations with world-class brands and leaders will further accelerate our speed of innovation. Working together to build a clinical augmented reality digital ecosystem better equips healthcare practitioners with advanced surgical visualization and navigation tools to deliver better care and enable greater patient access.”
MediView has raised approximately $29.5M in total funding to date. This additional strategic funding round demonstrates MediView’s differentiation of integrating live and 3D medical imaging into augmented reality to combine imaging, navigation and remote collaboration for intuitive procedures, improved clinical efficiencies and expanded care delivery capabilities. By addressing the challenges of current medical imaging technologies and traditional healthcare collaboration methods, MediView aims to democratize healthcare by removing barriers to patient access and to addresses health equity challenges in communities with limited healthcare resources, including rural or underserved populations. Additionally, MediView’s technologies serve as a diverse tool for education and training, equipping practitioners of tomorrow by enabling immersive first-hand learning experiences through augmented reality.
Refining and expanding upon intellectual property originally developed at Cleveland Clinic, MediView’s technologies combine the power of augmented reality, telecollaboration and evidence-based insights.
“Cleveland Clinic Innovations prides itself on fostering new ways to advance patient care. Our recent investment in MediView aligns with our focus on innovative technologies to improve surgical visualization and navigation,” said Geoff Vince, PhD, Executive Director of Cleveland Clinic Innovations. “Furthermore, MediView’s emphasis on operationalizing and commercializing this novel technology matches the mission of Cleveland Clinic Innovations.”
MediView most recently entered into a know-how agreement with Mayo Clinic in Q4 2022 to together advance clinical extended reality solutions with clinical, technology, and research collaboration from Mayo Clinic.
In addition to clinical institution partnerships, MediView is currently engaged with GE HealthCare in a strategic collaboration to integrate medical imaging into mixed reality solutions for the interventional space through the ongoing co-development of the OmnifyXRTM Interventional Suite System and integration of MediScout with GE HealthCare’s ultrasound systems.
“Augmented reality technologies truly have the potential to transform image guided therapy and solve long-standing challenges in minimally-invasive surgical visualization and navigation, remote imaging and tele-procedures in the operating rooms and interventional labs,” said Karley Yoder, General Manager and Chief Digital Officer, GE HealthCare, Ultrasound. “We welcome the opportunity to expand on our ongoing collaborations with MediView to bring this technology to minimally invasive surgery and other areas where these enhanced visualization capabilities are most needed.”
MediView is a Cleveland, OH based med-tech company working to advance human health through its digital augmented reality ecosystem. MediView’s intuitive augmented reality visualization platform aims to unlock the full potential of 3D data to transform image-guided medical procedures with intuitive 3D X-ray vision visualization, seamless remote collaboration, and evidence-based data insights. Currently, MediView is delivering these technologies through partnerships with leading organizations GE Healthcare and Microsoft.
To learn more, visit www.mediview.com
MediView XR, Inc.
Amy Ho, Director of Marketing
by Charlie Fink | forbes.com