The U.S. healthcare system spends roughly $190 billion every year on physical therapies prescribed to treat muscular and skeletal disorders, and Sword Health has raised $8 million in a new round of financing to slash those costs.
The New York-based company was founded in Europe four years ago and recently relocated to the U.S. where spending on musculoskeletal disorders has skyrocketed to become the second most costly ailment in America, the company said.
Sword Health focuses on five key pathologies — lower back pain, shoulder pain, neck pain and physical therapy in the wake of knee and hip replacement surgeries.
“Lower back pain is the most important one in terms of chronic pain, then knee and shoulder pain” says Sword Health founder and chief executive Virgilio Bento.
Bento launched the company after identifying the lack of availability of good physical therapy when his brother was recovering from a car accident and needed access to better care.
The company has a hardware solution that’s set up in consultation with a specialist either remotely or in the