FundamentalVR, the training and data analysis technology platform, today announced a three-year deal to jointly develop surgical VR simulation and education products with Mayo Clinic, the world-renowned academic medical center.

ROADTOVR: FundamentalVR and Mayo Clinic to Develop VR Surgical Simulations, Raises $1.4M Financing

Internet of Things investor Tern said it had made a further £1.1m investment in virtual reality training company FundamentalVR.

The Telegraph: Tern ups stake in FundamentalVR to around 35%

MOBIHEALTHNEWS: Surgical training startup FundamentalVR inks deal with Mayo Clinic, raises additional $1.4M

A VR training and data analysis technology platform, has announced a three-year strategic alliance and joint development agreement with Mayo Clinic, a leading academic medical centre, in the US.

FundamentalVR launches collaboration with Mayo Clinic

Fundamental Surgery announced a three year strategic alliance and joint development agreement with the Mayo Clinic, a leading academic medical centre in the US, which will see both companies jointly develop market-leading surgical VR simulation and education products.

Fundamental Surgery announced a three year strategic alliance and joint development agreement with the Mayo Clinic, a leading academic medical centre in the US, which will see both companies jointly develop market-leading surgical VR simulation and education products.

A VR training and data analysis technology platform, has announced a three-year strategic alliance and joint development agreement with Mayo Clinic, a leading academic medical centre, in the US.

FundamentalVR, a VR training and data analysis technology platform, has announced a three year strategic alliance and joint development agreement with the Mayo Clinic, a leading academic medical centre in the US, which will see both companies jointly develop market-leading surgical VR simulation and education products.

In addition the current release of the Fundamental Surgery platform is now live in the Mayo Clinic’s world renowned simulation centers located in Arizona, Florida and Minnesota.

As a result, FundamentalVR will leverage the expertise of world-leading surgeons and clinical practitioners, as well as 3D modelling, data scientists and simulation specialists at Mayo Clinic, to create new simulation content, assessment criteria and validation for Fundamental Surgery, FundamentalVR’s haptic and VR medical simulation platform. FundamentalVR will also benefit from access to an unrivalled body of clinical research and validation opportunities.

The agreement will see the two parties collaborating on a range of simulations with an initial focus on the general surgery area. They will then move into exciting growth areas including robotic and patient specific simulation derived from DiCom (Digital Imaging and Communications in Medicine) data and 3D modelling harnessing many years of Mayo Clinic clinical expertise into a whole new realm of education, assessment and evaluation.

Richard Vincent, CEO at FundamentalVR, commented: “This collaboration with the Mayo Clinic will dramatically accelerate our progress and ensures that the FundamentalVR team has access to the very best surgical knowledge. Mayo Clinic and FundamentalVR are both ultimately focused on improving patient outcomes and with this in mind we share the belief that the comparative data insight and measurement available through our platform will have a profoundly positive impact on the wellbeing of people around the world. Our haptic + immersive VR platform has already proven itself to offer a new way to allow skills development and we are proud that this has been recognised by one of the USA’s leading and most inspirational medical groups.”

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Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that it has made a further £1.1 million investment in FVRVS Limited ("FundamentalVR" or "Fundamental")

Tern Plc announces follow-on investment in FundamentalVR

 

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that it has made a further £1.1 million investment in FVRVS Limited

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things (“IoT”), is pleased to announce that it has made a further £1.1 million investment in FVRVS Limited

30 October 2018

Additional Investment in FundamentalVR

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things (“IoT”), is pleased to announce that it has made a further £1.1 million investment in FVRVS Limited (“FundamentalVR” or “Fundamental”), a leading Virtual Reality (“VR”) training and data analysis technology platform and one of its existing portfolio companies. Fundamental’s award-winning platform combines immersive virtual reality with cutting-edge haptics (the sense of touch) to create low-cost and scalable ‘flight simulator’ experiences which offer a new way to facilitate skills development for surgeons. This additional investment increases Tern’s holding in FundamentalVR from 18.3% to 34.7%.

This investment follows Fundamental’s recent signing of a three year term joint development agreement with the Mayo Foundation for Medical Education and Research (“the Mayo Clinic”), the U.S. leading academic medical centre which was voted Best Hospital in 2018 U.S. News & World Report rankings of top hospitals in the USA, which will see the two parties collaborating on a range of simulation and education products with an initial focus on the General Surgery area. Additionally, the current release of the Fundamental Surgery platform is now live in the Mayo Clinic’s world-renowned simulation centres located in Arizona, Florida and Minnesota.

This new alliance is expected to accelerate FundamentalVR’s progress in building out its procedures portfolio and enables the FundamentalVR team to have access to leading surgical knowledge as well as 3D modelling, data scientists and simulation specialists at the Mayo Clinic.The Mayo Clinic and FundamentalVR are both ultimately focused on improving patient outcomes and share the belief that the comparative data insight and measurement collected and available through the FundamentalVR platform will have a profoundly positive impact on medical outcomes and products around the world.

Fundamental Surgery is a software platform that takes advantage of readily available virtual reality software combined with cutting edge haptics (the sense of touch)

FundamentalVR’s current revenues from its existing procedures and its pipeline of new procedures are expected to accelerate through the addition of new procedures and potential licencing areas emanating from this new partnership.  Additionally, in the longer term FundamentalVR expects to build additional revenue sources from its data insight, accreditation and licensing of the development assets in complementary medical markets.

Tern CEO, Al Sisto, said, “FundamentalVR has proven its agility to rapidly deliver on its strategy since our initial investment.  We are really pleased to provide this follow-on investment in this innovative company. They have an ambitious strategy, forward revenue visibility and now, a prestigious content partner that recognises the ability of their platform to revolutionise surgical training and ultimately, patient outcomes. We are pleased with their execution and the value it is creating in the business and therefore delighted to have increased our ownership position.”

**ENDS**

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FUNDAMENTAL SURGERY PLATFORM INSTALLED IN US MAYO CENTRES

 

FUNDAMENTALVR LAUNCHES STRATEGIC COLLABORATION AND JOINT DEVELOPMENT AGREEMENT WITH MAYO CLINIC FOR SURGICAL VR SIMULATION AND EDUCATION PRODUCTS

FUNDAMENTAL SURGERY PLATFORM INSTALLED IN US MAYO CENTRES

LONDON / BOSTON – October 30, 2018 – FundamentalVR, the foremost Virtual Reality (VR) training and data analysis technology platform, today announces a three year strategic collaboration and joint development agreement with Mayo Clinic, the US leading academic medical center, which will see both companies jointly develop market-leading surgical VR simulation and education products.

In addition the current release of the Fundamental Surgery platform is now live in the Mayo Clinic’s world renowned simulation centers located in Arizona, Florida and Minnesota.

As a result, FundamentalVR will leverage the expertise of world-leading surgeons and clinical practitioners, as well as 3D modelling, data scientists and simulation specialists at Mayo Clinic, to create new simulation content, assessment criteria and validation for Fundamental Surgery (www.fundamentalsurgery.com), FundamentalVR’s Haptic and VR medical simulation platform. FundamentalVR will also benefit from access to an unrivalled body of clinical research and validation opportunities.

The agreement will see the two parties collaborating on a range of simulations with an initial focus on the General Surgery area. They will then move into exciting growth areas including robotic and patient specific simulation derived from DiCom (Digital Imaging and Communications in Medicine) data and 3D modelling harnessing  many years of Mayo Clinic clinical expertise into a whole new realm of education, assessment and evaluation.

Richard Vincent, CEO at FundamentalVR commented, “This collaboration with the Mayo Clinic will dramatically accelerate our progress and ensures that the FundamentalVR team has access to the very best surgical knowledge. Mayo Clinic and FundamentalVR are both ultimately focused on improving patient outcomes and with this in mind we share the belief that the comparative data insight and measurement available through our platform will have a profoundly positive impact on the wellbeing of people around the world. Our haptic + immersive VR platform has already proven itself to offer a new way to allow skills development and we are proud that this has been recognised by one of the USA’s leading and most inspirational medical groups.”

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ABOUT FUNDAMENTALVR 

FundamentalVR is a technology and data insight business specialising in the intersection between immersive experiences and haptics to enhance medical training and outcomes. It’s SaaS platform, Fundamental Surgery, features VR Haptics technology that takes advantage of readily available virtual reality hardware to create a simulation system that can be used on any modern VR-enabled PC/laptop. Fundamental Surgery gives healthcare professionals around the world low-cost access to authentic surgical simulations with precise measurement and performance insight. FundamentalVR is based out of London and Boston.

Fundamental surgery win Auggie Award 2018 for most impactful breakthrough

FUNDAMENTALVR WIN MOST IMPACTFUL BREAKTHROUGH AUGGIE AWARDS

LONDON – October 22nd, 2018 –

FundamentalVR Picks Up Prestigious Auggie Award ‘Most Impactful Breakthrough’ for Fundamental Surgery, Its Groundbreaking Surgical Simulation Platform

LONDON – October 22nd, 2018 – FundamentalVR, pioneers of immersive training technology for the medical community, is thrilled to announce it has won the prestigious Auggie Award for Most Impactful Breakthrough for its first-of-its-kind SaaS software platform Fundamental Surgery. The groundbreaking platform combines virtual reality (VR) with cutting-edge haptics (the sense of touch) to create a low-cost and scalable flight simulator experience for trainee and qualified surgeons.

The Auggie Awards are held at the Augmented World Expo (AWE) and presented by VR First, IEEE and AWE. They recognize excellence in the use of immersive technology in a variety of industries and use cases.

Launched in the U.S. in August 2018, Fundamental Surgery won its prestigious category for its work to innovate the way surgeons are trained, which has remained largely unchanged for the past 150 years – with classroom-based theory, operating room observation and theatre-style viewing of cadaver-based teaching still being the main sources of training for surgeons. The lack of proper training options for surgeons has ultimately led to 5 billion people being denied access to safe surgery.

“Our mission is to democratize surgical training by placing safe, affordable and authentic simulations within arm’s reach of every surgeon, and dramatically impact the way surgery is trained globally,” said Richard Vincent, founder and CEO of FundamentalVR. “To be winners of the Most Impactful Breakthrough category at the world’s #1 AR+VR conference and expo is validation of all the hard work that has gone into the creation of Fundamental Surgery over the past years. With the help of some of the top minds in medicine, as well some of the most advanced VR and haptic programmers, we have created a low-cost solution that can be deployed anywhere to allow surgeons to learn and hone their skills in a safe and controlled environment.”

Fundamental Surgery’s current training packages are focused on the orthopedic surgical disciplines with procedures including Spinal Pedicle Screw, Total Hip Arthroplasty (Posterior) and Total Knee Arthroplasty. Further orthopedic procedures will be added during Q4 2018 with other disciplines, including general surgery and cardiovascular, slated for 2019.

At the heart of the system is its unique Surgical Haptic Intelligence EngineTM (SHIETM), which is calibrated to mimic real life sensations of numerous medical tools and tissue variants. By combining immersive haptic technology with low cost, off-the-shelf hardware, Fundamental Surgery is democratizing surgical simulation through plug-and-play simplicity and a hitherto unachievable price point – less than a cost of one cadaver.

Fundamental Surgery licenses are now available in the U.S. with introductory prices starting at just $735 a month. For more information, please visit: www.fundamentalsurgery.com.

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We are thrilled to announce that we have won the prestigious Auggie Award for 'Most Impactful Breakthrough' for 2018 from @ARealityEvent! Thank you to all involved, we continue to push forward and strive for #betterpatientoutcomes

CEO, Richard Vincent with the prestigious award for ‘Most Impactful Breakthrough Award’ at the Auggie Awards 2018


TKA

Driving fundamental change in the world of medical training with virtual reality surgical simulations

ABOUT FUNDAMENTALVR 

FundamentalVR is a technology and data insight business specialising in the intersection between immersive experiences and haptics to enhance medical training and outcomes. It’s SaaS platform, Fundamental Surgery, features VR Haptics technology that takes advantage of readily available virtual reality hardware to create a simulation system that can be used on any modern VR-enabled PC/laptop. Fundamental Surgery gives healthcare professionals around the world low-cost access to authentic surgical simulations with precise measurement and performance insight. FundamentalVR is based out of London and Boston.

BECKER’S SPINE REVIEW: FundamentalVR adds 2 executives

FundamentalVR adds 2 executives:

5 things to know

LONDON – October 17, 2018 –

Surgical simulation company FundamentalVR expanded its executive team following the launch of its Fundamental Surgery virtual reality software.

Here are five things to know:

1. FundamentalVR appointed Peter Rainger as chief learning officer and named Peter Cooke as client sales executive.

2. As CLO, Mr. Rainger will be responsible for leading educational strategy.

3. Mr. Cooke will work hospitals to identify surgical simulation opportunities.

4. FundamentalVR is a first-of-its-kind software as a service platform, combining VR with haptics to create a low-cost flight simulator experience for surgical education.

5. The surgical simulator’s initial U.S. offering features spinal pedicle screw placement, posterior hip replacement and total knee arthroplasty training packages. The company will release additional orthopedic procedures in the fourth quarter of 2018 and offer training modules for general and cardiovascular surgery in 2019.

Read article here. 

Beckers Spine Review

Beckers Spine Review write article on new hires. Top 5 things to know about Fundamental Surgery

FUNDAMENTALVR APPOINTS TWO NEW EXECUTIVES

LONDON – October 16th, 2018 –

Following U.S. Launch of Fundamental Surgery, FundamentalVR Expands Executive Team with the Appointment of a Chief Learning Officer and a Client Sales Executive

LONDON – October 16, 2018 –

FundamentalVR, pioneers of immersive training technology for the medical community, today announced the expansion of their executive team with Peter Rainger joining as Chief Learning Officer and Peter Cooke as a Client Sales Executive. In their roles, they will help spread and develop the company’s global training platform, Fundamental Surgery, a first-of-its-kind SaaS platform that combines virtual reality (VR) with cutting-edge haptics to create a low-cost and scalable flight simulator experience for trainee and qualified surgeons. Fundamental Surgery creates an authentic environment that allows users to experience and navigate the same visuals, sounds and feelings they would during a real surgical procedure.

The new appointments come after the recent U.S. expansion of Fundamental Surgery in August 2018. Designed to improve patient outcomes while combating the increasing cost of medical training that tops $15 billion annually in the U.S, the initial U.S. offering focused on training packages within the Orthopedic Surgical disciplines, including Spinal Pedicle Screw Placement, Posterior Hip Replacement and Total Knee Arthroplasty. Further orthopedic procedures are slated for Q4 2018 with other disciplines, including general surgery and cardiovascular, slated for 2019.

The new executives will continue the company’s global mission to democratize surgical simulations and training, allowing it to be easily accessible to every surgeon in the world for the benefit of society. In particular, they will focus on expanding Fundamental Surgery in the U.S. market.

Fundamental Surgery VR simulations with haptics. Driving fundamental change in the world of medical training with virtual reality surgical simulations

It’s Fundamental Surgery’s unique combination of SHIE ™ technology with VR simulation that generates maximum immersion.

Peter Rainger – Chief Learning Officer

Rainger is a highly-experienced thought leader in the field of educational technology within the context of healthcare. He brings with him a wealth of expertise in simulation and educational design as the former e-learning manager for NHS Genetics Education, the academic lead for instructional design at Birmingham medical school, and the former head of Medical Education for Touch Surgery. Now in his role as Chief Learning Officer, Rainger is responsible for leading educational strategy. He will work with FundamentalVR’s CXO and CTO to build world leading surgical simulations that are underpinned by sound educational principles, and work to develop strategic research partnerships to support future validation and accreditation of Fundamental Surgery.

Peter Cooke – Client Sales Executive

Cooke has worked in the Orthopedic industry for the past 15 years. He began his career as a research assistant in an orthopedic clinic focused on journal publications. Following this, he spent 13 years in the joint replacement market with Stryker Orthopedics where his responsibilities included sales and management in the Northeastern U.S. He holds a Master’s in Business Administration from Boston University and an undergraduate degree from Hobart College. Now in his role as Client Sales Executive, Cooke will be responsible for engaging with hospitals across the U.S. and identifying simulation opportunities for Fundamental Surgery.

“Starting with the top minds in medicine and some of the most advanced VR and haptic programmers, we introduced Fundamental Surgery, a solution that can be deployed anywhere to allow surgeons to affordably learn and hone their skills over and over again in a safe and controlled environment,” said Richard Vincent, founder and CEO of Fundamental VR. “Now with Peter Rainger and Peter Cooke, we can expand our efforts to work directly with hospitals, higher education and research institutions to provide them with safe, affordable and authentic simulations that help facilitate better patient outcomes.”

The appointments of Rainger and Cooke in their new roles are effective today. Cooke will be based in the U.S., and Rainger will be based in the UK. For more information, please visit: www.fundamentalsurgery.com.

ABOUT FUNDAMENTALVR 

FundamentalVR is a technology company specialising in immersive experiences to enhance medical training. It has developed Fundamental Surgery as a SaaS platform featuring VR Haptics technology that takes advantage of readily available virtual reality hardware to create a simulation system that can be used on any modern VR-enabled PC set up – even a laptop. Fundamental Surgery gives healthcare professionals around the world access to authentic surgical simulations at low cost.

FundamentalVR expanding global sales network

MEDICAL TRAINING MAGAZINE

FundamentalVR, pioneers of immersive training technology for the medical community, named Hybrid Health as its channel partner for Australia and New Zealand markets. The company is looking to Hybrid Health’s connections to energize FundamentalVR’s entry into this market to help expand its sales network. It is also hoping to spread and further develop the company’s global training platform, Fundamental Surgery SaaS platform that combines virtual reality (VR) with cutting-edge haptics to create a low-cost and scalable flight simulator experience for trainee and qualified surgeons.

FundamentalVR says, unlike other medical training simulations, it creates an authentic environment that lets users experience and navigate the same visuals, sounds and feelings they would during a real surgical procedure.

As part of the launch of Fundamental Surgery across Australia and New Zealand, the company hopes this platform that is designed to improve patient outcomes while combating the increasing cost of medical training will be well received by these two countries where medical training tops $1 billion annually. The initial offering focuses on training packages within the Orthopedic Surgical disciplines, including Spinal Pedicle Screw, Posterior Hip Replacement and Total Knee Arthroplasty. More orthopedic procedures and some for other disciplines, like general surgery are slated for Q4 2018, and cardiovascular slated for 2019.

Hybrid Health will continue the company’s global mission to democratize surgical simulation training, allowing it to be easily accessible to every surgeon in the world.

Read article here.