Aspiring dentists could soon find themselves learning their trade via virtual reality (VR) with tech company Vection Technologies (ASX: VR1) having been engaged by dental technician expert D&D to create FrameS Dental – a VR training program which will be spun out of Vection’s existing VR technology – FrameS.
Initial consideration for the project agreement is around $500,000, with Vection to commence building of FrameS Dental by March 2020 and the first modules to be delivered mid-year.
“FrameS Dental marks Vection’s first step into the Healthcare vertical, which represents one of the biggest adopters of virtual reality globally, and an integral part of Vection’s strategy.” said Vection Managing Director, Gianmarco Biagi.
“Vection anticipate disrupting the conventional training and planning approach of healthcare providers via its suite of 3D, VR and AR SaaS products, including its flagship transformative VR product, FrameS.
Existing FrameS software is currently built for the real estate and construction industries which enable users to view buildings and designs through virtual reality. This agreement with D&D is Vections first foray into the healthcare sector, however Biagi is also “currently in discussions with multiple parties in the healthcare and pharmaceutical industries and will update the market in due course.”
FrameS Dental will be specifically built to address a broad range of procedures and treatments where ultra-realistic details and responsiveness is aimed at improving training standards which will subsequently improve patient safety and skill formation.
Previously named ServTech Global (ASX: SVT), Vection underwent a re-brand through 2019 before changing the company name and ticker code to Vection (ASX: VR1) in November 2019 to better reflect its renewed focus on virtual reality technology.
The global virtual reality healthcare market size was USD$1.56 billion in 2018, and is projected to reach USD$30.4 billion by 2026 according to Fortune Business Insights.
Shares in VR1 spiked to a high of $0.024 in early morning trade, a rise of 14.29% on the previous day’s close of $0.021.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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