Assignment of Technologies and Industry Hires Significantly Expand Immersive Health Group's Technological Capabilities in the Clinical and Nurse Training Segment
NEW YORK, NY / ACCESSWIRE / November 28, 2022 / The Glimpse Group, Inc. ('Glimpse') (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ('VR') and Augmented Reality ('AR') platform company providing enterprise focused VR and AR software and services solutions, today announced that its wholly owned VR clinical training solutions subsidiary company - Immersive Health Group, LLC ('IHG') - entered into a technology and IP assignment agreement with InciteVR, an award-winning immersive learning company that creates immersive learning experiences (ILX) for higher education and professional training, primarily in the clinical and nursing healthcare segments.
inciteVR's (www.incitevr.com) provides immersive learning experience solutions, delivered in VR and utilizing artificial intelligence (AI), game-based learning and an extensive proprietary library of learning 3D assets, to achieve deep and persistent learning. Serving undergraduate and graduate nursing education, medical assisting education and professional clinical training since 2016, inciteVR has trained over 95,000 learners in approximately 2,000 classes that have completed over 1,000,000 sessions of immersive game-based learning or simulations embedded in leading educational institution courses.
The assignment of inciteVR's IP and Technology included a one time, nominal issuance of Glimpse common shares (@ $7.00/share). In parallel, the full inciteVR team has entered into employment agreements with Glimpse and will join the IHG team.
Jim Kiggens, inciteVR's co-founder and CEO, will serve as Chief Product Officer of IHG. Mr. Kiggens will add significant immersive technology industry knowledge with 30 years of experience in producing and developing game-based learning and simulations for higher education, K12, and corporate training.
Mr. Kiggens commented, 'Since inciteVR's inception, we have rooted our methodology in research validating that students cost effectively acquire skills faster, with greater accuracy, and retain skills longer through immersive learning experiences. Within Glimpse, inciteVR's technology can further expand the scope and functionalities of its and IHG's clinical and nursing immersive and skills labs.'
Dov Hirsch, General Manager of IHG, commented, 'inciteVR's team is a natural fit, bringing decades of experience in immersive clinical training to IHG. Their user-centric Clinic Immersive platform is the result of extensive experience building solutions in online higher education, uniquely designed and developed to address a global nursing shortage that continues to impact academic institutions, faculty, health systems and patient populations. We welcome Jim and the inciteVR team and look forward to our journey together to drive accelerated growth in the immersive healthcare segment.'
About Immersive Health Group, Inc.
IHG is a digital health company that leverages leading-edge VR/AR technologies to increase access to care, optimize care delivery, and educate and train clinicians, practitioners and patients. For more information on The Immersive Health Group, please visit www.immersivehealthgroup.com; For more information about inciteVR please visit www.incitevr.com.
The Glimpse Group, Inc.
The Glimpse Group (NASDAQ: VRAR, FSE: 9DR) is a diversified Virtual and Augmented Reality platform company, comprised of multiple VR and AR software & services companies, and designed with the specific purpose of cultivating companies in the emerging VR/AR industry. Glimpse's unique business model simplifies challenges faced by VR/AR companies and creates a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into the emerging VR/AR industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com
Safe Harbor Statement
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as 'anticipate,' 'believe,', 'view,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' and 'would' or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Dov HirschGeneral Manager
Immersive Health Group, LLC
CFO & COO
The Glimpse Group, Inc.
Mark Schwalenberg, CFA
MZ Group - North America
SOURCE: The Glimpse Group, Inc.
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