May 17, 2023 – MediView XR, Inc., a clinical augmented reality (AR) med-tech company, has recently announced that it has secured USD $15 million 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 its next funding round.
MediView combines augmented reality with surgical navigation to provide surgeons and healthcare professionals with 3D “X-Ray vision” through the skin for minimally invasive procedures. The company stated that the new financing will enable it to establish and expand its multi-tier platform offering with a 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.”
By addressing the challenges of current medical imaging technologies and traditional healthcare collaboration methods, MediView stated that it aims to democratize healthcare by removing barriers to patient access and to address health equity challenges in communities with limited healthcare resources, including rural or underserved populations. Additionally, MediView’s technologies help to serve as a diverse tool for education and training, equipping practitioners of tomorrow by enabling immersive first-hand learning experiences through augmented reality.
“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 (XR) solutions with clinical, technology, and research collaboration from Mayo Clinic. In addition to clinical institution partnerships, MediView recently announced a partnership with GE HealthCare to integrate medical imaging into mixed reality solutions.
“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.”
To date, MediView has raised approximately USD $29.5 million in total funding. To learn more about the company’s augmented reality solutions for medical imaging, please visit the company’s website.
Image credit: MediView
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.