MediView XR Inc. has raised $15 million from a variety of sources that include GE HealthCare to expand its platform that uses augmented reality to give surgeons a kind of "X-ray vision" to navigate during minimally invasive procedures.
The funding came from Mayo Clinic, Cleveland Clinic, GE HealthCare, JobsOhio Capital Growth Fund, Inside View Investments LLC and KKVS Syndicate along with commitments to the next funding round, the Cleveland-based medical technology company said in a statement.
GE HealthCare (Nasdaq: GEHC) is based in Chicago but employs thousands at its Milwaukee-area campuses in Wauwatosa, Waukesha and West Milwaukee where it develops and manufactures medical imaging equipment.
MediView combines augmented reality with surgical navigation to enable surgeons and other health care professionals to "see" inside a patient during certain procedures.
The new financing from strategic and financial backers will be used to expand MediView's platform to generate additional clinical evidence and equip it to focus on product development, intellectual property, regulatory and commercial milestones, the company said.
"Working together to build a clinical augmented reality digital ecosystem better equips health care practitioners with advanced surgical visualization and navigation tools to deliver better care and enable greater patient access," said Mina Fahim, president and CEO of MediView, in her company's statement.
MediView has raised about $29.5 million in funding to date, including $10 million in March 2022.
The company that refined and expanded upon intellectual property originating at Cleveland Clinic recently struck an agreement to advance its technology with clinical, technology and research collaboration from Mayo Clinic, it said.
In addition, MediView is collaborating with GE HealthCare to integrate medical imaging with mixed-reality solutions for the interventional health care space, the company said.
The collaboration was announced late last year during the RSNA 2022 conference held by the Radiological Society of North America at McCormick Place in Chicago. GE HealthCare and MediView will co-market the resulting solution and will explore opportunities for joint go-to-market efforts, GE HealthCare said in a Nov. 28, 2022, press release.
"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," Karley Yoder, general manager and chief digital officer for GE HealthCare, Ultrasound, said in the release
