The information technology services and consulting giant, Accenture, has made a strategic investment in BehaVR, a market leader in virtual reality digital wellness and therapeutics experiences, through Accenture Ventures.
On the same day, OxfordVR, an Oxford University spinoff and a pioneer in virtual reality treatments for severe mental illnesses, and BehaVR jointly announced their merger. The newly combined company will provide extensive, cross-acuity, VR-based therapeutic interventions for mental health as a part of a digital therapeutics market that is anticipated to reach more than $13B by 2027.
The BehaVR platform enables dynamic, personalized experiences that are governed and adjusted in real-time based on protocols, biometrics, and machine learning models through its exclusive delivery platform for developing, validating, and operating digital therapeutics solutions.
The Accenture Digital Health Technology Vision 2022 report details how more personalized, meaningful experiences can further humanize healthcare by bringing together the appropriate operating model, technology, data, and culture to deliver more effective and compassionate care. Healthcare leaders anticipate that virtual reality and the metaverse will positively impact the future of care.
“Providing people with the flexibility to decide when, where, and how they want to receive mental health care will help to improve access, experience, and outcomes,” said Rich Birhanzel, Senior Managing Director and Health Practice Global Lead at Accenture.
BehaVR is currently a part of Accenture Ventures’ Project Spotlight, an investment and engagement program that links emerging tech startups with the Global 2000 to bridge strategic innovation gaps. Project Spotlight provides extensive access to Accenture’s domain expertise and enterprise clients. It aims to assist startups in harnessing human creativity and delivering on the promise of their technology.
“Around the world, providers and employers are grappling with how to enhance the depth, breadth, and efficacy of their mental health service offerings, and we believe virtual reality-based digital therapeutics can play a vital role in helping them do all of those things,” said Aaron Gani, founder and CEO of BehaVR.
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