To help the development of its virtual reality (VR) orthopaedic surgical education and pre-operative planning software, Precision OS Technology has managed to secure $2.3 million USD in a Series A funding rounding, the company recently announced.
Led by Swiss investment fund AO Invest, the round featured several undisclosed investors.
The Precision OS software allows practising surgeons to perform simulated medical procedures whilst offering feedback to help users improve their techniques. It was designed by company co-founders Colin O’Connor (CTO) and Roberto Oliveira (CCO) alongside orthopaedic surgeon and CEO of Precision OS, Dr. Danny P. Goel, who helps the software target working surgeons effectively.
“Precision OS is delighted to be cooperating with an international organization that is a recognized leader in education for surgeons and operating room personnel around the world,” says Dr. Goel in a statement. “Precision OS technology is working to create a virtual language able to add depth of understanding that simply cannot be achieved using current simulation tools. Adopting VR as a way of improving decision-making is directly relevant for patients and value-based care.”
“For all of us at AO Invest, as is the case for our partners at Precision OS, the patients and surgeons are always centre stage: their needs are of the utmost importance to us,” adds Michel Orsinger, chairman of AO Invest. “In addition to responding to requirements they have already identified, we also work to pre-empt needs that will arise as the healthcare environment changes and technology advances. We evaluated several VR companies all over the world, and Precision OS’s technology convinced us through its accuracy, quality, and overall approach to education in VR. The feel of the product is extremely impressive. We believe that their platform holds the potential to change surgical education and the standard of care globally.”
As for the future of Precision OS the company is working on developing a preoperative planning tool that allows surgeons to introduce images of a specific patient’s anatomy to the software prior to conducting a procedure. As further advances are made within the healthcare industry using VR, VRFocus will let you know.