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Vection Technologies enters healthcare training market with customised virtual reality platform

The company’s entry into the dental training market is the first strategic step of a broader effort to assist healthcare providers with a unique virtual reality platform to transform the way they train and operate.

Vection Technologies Ltd - Vection Technologies enters into healthcare training market with customised virtual reality platform
Vection Technologies is a multinational software company that creates 3D, Virtual Reality (VR) and Augmented Reality (AR) solutions

Vection Technologies Ltd (ASX:VR1) has signed a virtual classroom agreement to help develop a customised healthcare training focused version of FrameS with dental technical expert D&D.

This agreement is initially valued at around $500,000 and has the potential to generate recurring SaaS revenues from a substantial new market.

Vection, a multinational software company that creates 3D, Virtual Reality (VR) and Augmented Reality (AR) solutions, has been engaged by D&D to customise its flagship virtual reality platform, FrameS, to address the growing dental training and simulation market.

D&D plans to use FrameS Dental to deliver dentistry and dental laboratory skill formation, training and simulation within the immersive FrameS virtual reality environment.  

First step into the healthcare vertical

Vection managing director Gianmarco Biagi said: “FrameS Dental marks Vection’s first step into the healthcare vertical, which represents one of the biggest adopters of virtual reality globally.

“Vection anticipates disrupting the conventional training and planning approach of healthcare providers through its suite of 3D, VR and SaaS products, including its flagship transformative VR products, FrameS.

“The company is also in discussions with multiple parties in the healthcare and pharmaceutical industries and will update the market in due course.”

Background information

FrameS Dental is an interactive and modern education tool, enabling ultra-realistic, real-time dentistry and dental laboratory skill formation, training and simulation.

Virtual reality simulators are becoming an essential component of modern education over conventional learning as they increase patient safety, reduce healthcare expenditure and enhance clinical performance.

Looking ahead

The company’s entry into the dental training market is the first strategic step of a broader effort to leverage FrameS and assist healthcare providers with a unique virtual reality platform to transform the way they train, plan and operate.

FrameS Dental will be Vection’s first healthcare solution added to its suite of 3D, VR and AR SaaS products during 2020.

The company plans to progress this healthcare focused strategic plan by increasing its product offering through partnerships and expanded applications.

Quick facts: Vection Technologies Ltd

Price: 0.025 AUD

ASX:VR1
Market: ASX
Market Cap: $16.43 m
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