Simulatory is advancing surgical training and education through smart simulation products that integrate Virtual Reality, AI and haptics in a whole new way.
We have completed our first product VRspine and have letter of intent to purchase 3 systems from customers which we plan to fulfill by mid 2022. We forecast revenues of around 300K for 2022 and we are already booked for 150K on orders now. We plan to organize our first training session with VRspine product mid 2022 and generate revenue from that as well. We are also in the process of signing 2 new beta customers in Germany. We plan to attend various spine conferences to demo and market our product.
Problem or Opportunity
Surgeons who want to learn new techniques face multitude of problems like slow learning curves, limited cases to practice and limited learning time from experts in the field. Currently surgeons train by observing an expert performing the surgery. Surgical interns watch 5 surgeries and perform the 6th one. This is not ideal. There are few physical simulator dummies that are available for training but they are not ideal as they don't measure performance metrics and need an expert teacher/ surgeon to always be by the side of the students. This takes precious surgery time from experts.
Solution (product or service)
We are fixing this with our smart simulation platform which allows for unlimited training on virtual anatomy, custom cases and speeds up the learning curve without an expert surgeon next to you. We achieve this with our Ai based proctor system, smart sensors and haptic feedback system to estimate the performance metrics of a surgeon and asses his skill level. This allows for the trainees to train more efficiently and understand their strengths and weaknesses and relieves the stress on expert time. Our first product based on this platform is VRspine, a spine simulator
Our business is based on a Hardware enabled SaaS model. Our revenue model is based on specialized simulator hardware plus recurring software subscription service. Our specialized hardware for VRspine is priced at CHF 95K and software subscription modules range from CHF 835 / month to CHF 2500/ month.