- XR Immersive Tech (CSE:VRAI) has acquired continuous glucose monitoring (CGM) technology from InsulinQ
- By incorporating AI, data analytics, and immersive experiences, the company aims to provide a more affordable and accessible CGM solution
- The acquired CGM technology utilizes advanced sensors and proprietary algorithms to provide real-time, user-friendly, and cost-effective glucose monitoring
- XR Immersive Tech stock (CSE:VRAI) last traded at $0.50
XR Immersive Tech (CSE:VRAI) has acquired continuous glucose monitoring (CGM) technology from InsulinQ. This acquisition marks an expansion of Immersive Tech’s presence in the health care sector.
Expansion into health care
XR Immersive Tech has been involved in the health care industry since 2016, collaborating with organizations such as Bayer and the U.S. Food and Drug Administration (FDA). These partnerships have enabled the company to apply its advanced immersive technologies to address critical health care challenges.
Technology and rationale
By incorporating AI, data analytics, and immersive experiences, the company aims to provide a more affordable and accessible CGM solution compared to market leaders, whose devices often come with high price tags that limit accessibility.
“This acquisition aligns with our vision to integrate technology and health care, enhancing user accessibility and affordability,” Sheri Rempel, XR Immersive Tech’s CEO explained in a news statement. “By incorporating InsulinQ’s CGM technology, we aim to contribute to the U.S. health care sector and provide meaningful solutions to millions of users.”
Advancing glucose monitoring solutions
The acquired CGM technology utilizes advanced sensors and proprietary algorithms to provide real-time, user-friendly, and cost-effective glucose monitoring. Designed for seamless integration with mobile platforms, the technology aims to deliver actionable insights for diabetes management and overall health optimization.
With this acquisition, Immersive Tech plans to offer a more affordable and user-friendly CGM solution compared to existing market leaders.
Key features
- Continuous monitoring to reduce the need for frequent finger pricks
- Mobile integration for real-time glucose tracking
- Scalable design suitable for clinical and direct-to-consumer markets
- Competitive pricing to enhance adoption in underserved markets
- Elimination of cumbersome applicators used in existing solutions
XR’s core technologies in health care
XR Immersive Tech has made a name for itself by using AI, VR, and AR for entertainment, though its immersive technology stack includes a range of sophisticated tools increasingly being applied in health care. These technologies include:
- AI avatar clone: Using artificial intelligence to create realistic, interactive avatars for patient engagement, education, remote monitoring, and health care simulations. This technology enables medical professionals to simulate patient conditions, improving diagnostic and decision-making skills without real-world risk.
- DigitalTwinX: A platform that creates precise digital replicas of patients, medical devices, and health care systems. Utilizing real-time data from wearables and medical records, DigitalTwinX facilitates personalized treatments and predictive health monitoring, enhancing chronic disease management.
- Haptic feedback and fingerprint tracking sensors: Originally designed for gaming, these technologies are now applied in health care for simulation-based training, rehabilitation, and remote patient monitoring.
- Wearables (patches and wristbands): XR’s wearable devices track vital signs such as heart rate, temperature, and glucose levels, providing real-time data for chronic disease management and telemedicine applications.
Market opportunity
The global CGM market, valued at $6.32 billion in 2023, is projected to grow to $13.06 billion by 2032, driven by the increasing prevalence of diabetes, as determined by Research and Markets analysts. According to the International Diabetes Federation (IDF), 537 million people worldwide were living with diabetes in 2023, a number expected to rise to 783 million by 2045.
Entry into the Indian market
A study published in The Lancet noted that India faces a significant diabetes crisis, with 101 million people diagnosed with diabetes and an additional 136 million classified as pre-diabetic. Cost remains a major barrier to care in India, and XR Immersive Tech intends to introduce its CGM solutions to provide affordable, continuous monitoring and improve health care outcomes.
Unlocking shareholder value
The acquisition of InsulinQ’s CGM technology forms the foundation for Immersive Tech’s broader health tech strategy, focusing on:
- Accelerated product development: Rapid prototyping, testing, and regulatory approvals to bring the technology to market.
- Strategic partnerships: Collaborations with health care providers and insurers to scale distribution.
- Expansion into additional applications: Beyond diabetes management, targeting preventative care and wellness tracking.
Acquisition terms
In consideration for the acquisition, XR Immersive Tech Inc. issued 4 million shares at $0.75 per share, for a total purchase price of $3 million. The common shares are subject to a restricted period, with 8 per cent of the shares being released in the following quarters.
XR Immersive Tech stock (CSE:VRAI) last traded at $0.50 and has risen 203.03 per cent since this time last year.
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(Top image via Diabetes Canada.)