Augmedics raises $82.5 million to accelerate adoption of augmented reality spine surgery

Augmedics’ augmented actuality navigation system, xvision, offers surgeons “x-ray imaginative and prescient” and permits correct navigation of devices and implants throughout surgical procedure. Picture: Augmedics

CHICAGO–(BUSINESS WIRE)–Augmedics, a pioneer in augmented actuality (AR) surgical navigation, at the moment introduced the profitable shut of an $82.5 million Sequence D financing. The spherical was led by Dallas-based CPMG and provides Evidity Health Capital as a syndicate companion, with participation from present traders H.I.G. Capital, Revival Healthcare Capital, Almeda Ventures and others. The information comes the identical week the corporate marks its file 4,000^th US affected person handled with the xvision Backbone System® which makes use of augmented actuality to provide surgeons “x-ray imaginative and prescient” throughout surgical procedure.

The xvision headset is purpose-built for surgeons, with the objective of permitting them to carry out surgical procedure precisely as they might naturally. The proprietary medical system integrates navigation functionality to optimize surgical accuracy. Picture: Augmedics

The funds will assist Augmedics’ quickly increasing US industrial footprint in addition to the supply of next-generation platform developments which can allow mass-scale adoption of the xvision expertise.

+4,000 sufferers & counting: paving the way in which within the rising discipline of AR spine surgical procedure

The funding information comes on the heels of a brand new industrial milestone for the medtech firm which has lengthy been a frontrunner within the novel and rising discipline of augmented actuality surgical procedure.

Named for its skill to provide surgeons “x-ray imaginative and prescient,” xvision made historical past in December 2019 as the primary FDA-approved AR navigation system for surgical procedure. The cutting-edge expertise superimposes vital knowledge onto the surgical discipline, permitting surgeons to visualise affected person anatomy by way of pores and skin and tissue and to precisely navigate devices and implants throughout spine surgical procedure. In contrast to conventional navigation programs, which require surgeons to repeatedly look away to an ancillary display, xvision permits surgeons to maintain their eyes instantly on the affected person, lending higher visualization, management, and accuracy throughout spine procedures.

Usually described as a “game-changer” by surgeons, xvision has seen speedy adoption since its US industrial launch in 2020, together with by quite a few premier educational establishments throughout the nation. As adoption accelerates, so do the system’s capabilities; Augmedics launched a big platform enlargement in March 2023 together with the system’s first synthetic intelligence (AI) utility, laying the groundwork for future platform developments additional supported by the financing.

“To shut an $82.5M spherical within the present fundraising atmosphere is a testomony to the dramatic impression Augmedics is making on the sphere of spine surgical procedure. The accomplishment is underscored by the super achievement of 4,000 affected person lives impacted,” mentioned Augmedics President & CEO Kevin Hykes. “We’re happy to safe the sources to proceed main the market within the adoption of augmented actuality spine surgical procedure.”

“In CPMG and Evidity, we’re proud to welcome two world-class companions who deliver super experience to the desk,” mentioned Augmedics Chairman of the Board Rick Anderson. “This financing signifies the utmost confidence within the xvision expertise and its function in redefining the usual of look after enabling expertise in spine surgical procedure. We’re thrilled with this vital runway into the long run as we execute towards our mission to revolutionize surgical procedure for sufferers and the surgeons who deal with them.”

CMPG’s Kent McGaughy and Evidity’s Paul Enever will be part of Augmedics’ board of administrators.

“In a discipline the place many make claims about the advantages of augmented actuality in surgical procedure, Augmedics stands aside with a proprietary AR navigation resolution, delivering best-in-class surgical accuracy day by day to ORs throughout the nation,” mentioned McGaughy. “For almost 20 years, we have now studied and invested in enabling surgical expertise. We’re excited to companion with Augmedics, the clear chief in augmented actuality surgical procedure.”

About Augmedics

Augmedics pioneers cutting-edge augmented actuality applied sciences to enhance surgical outcomes. The corporate’s revolutionary xvision Backbone System® permits surgeons to see sufferers’ anatomy as if they’ve “x-ray imaginative and prescient” and precisely navigate devices and implants throughout spine procedures. The primary-of-its-kind, FDA-cleared xvision has been used to deal with over 4,000 sufferers and implant greater than 20,000 pedicle screws throughout 21 US states. xvision has constantly demonstrated 97-100% accuracy of pedicle screw placement throughout a number of affected person research.

Augmedics has acquired quite a few honors, together with being named a 2021 Index Awards Finalist, a Quick Firm World Altering Concepts Awards 2021 Finalist, and one in every of Time Journal’s Greatest Innovations of 2020. It was just lately featured in The Economist documentary How will companies use the metaverse?

To be taught extra or schedule an xvision demo, go to augmedics.com.