AR surgical navigation company Augmedics secures $82.5 million in Series D funding

July 4, 2023 – Augmedics, a company that provides an augmented reality (AR) surgical navigation platform, recently announced the successful completion of an $82.5 million Series D round of funding. This round is led by Dallas'CPMGlead, and haveEvidence Health Capital joined as a joint investor.HIG Capital,Revival Healthcare CapitalandAlmeda VenturesOther existing investors also participated in the financing.

The funding will support Augmedics' expansion of its commercial footprint in the U.S. and provide for further development of the next-generation platform, which will drivexvisionlarge-scale application of the technology, the company said.

The financing announcement follows a new commercial milestone for Augmedics, which treated a record 4,000th patient in the United States using the company's "xvision" spinal system. Xvision uses augmented reality technology to give surgeons "see-through" during surgery and became the first FDA-approved augmented reality navigation surgery system.

The company's technology superimposes critical data on the surgical field, allowing surgeons to view a patient's anatomy through the skin and tissue and accurately navigate instruments and implants during spinal procedures. Unlike traditional navigation systems, which require the surgeon to constantly look at a secondary screen, xvision allows the surgeon to focus directly on the patient, which Augmedics says provides better visualization, control, and surgical accuracy.

The company noted that since its commercial launch in the U.S. in 2020, it has seen rapid adoption of its xvision technology, including at many U.S. academic institutions. As adoption accelerates, so does the system's capabilities; Augmedics launches significant platform extensions in March 2023, including the system's first artificial intelligence (AI) application, laying the groundwork for future platform development , and was further supported by financing.

"Raising $82.5 million in financing in the current fundraising environment is a testament to the massive impact Augmedics is making on the field of spinal surgery," said Kevin Hykes, Augmedics President and CEO. An achievement that has had a huge impact on lives." "We are excited to have the resources to continue leading the market in augmented reality spine surgery."

Along with the new investment, Augmedics also announced that CMPG's Kent McGaughy and Evidity's Paul Enever will join the company's Board of Directors.

“In a field where many have made claims about the benefits of augmented reality in surgery, Augmedics stands out with a proprietary augmented reality navigation solution that delivers best-in-class surgical precision to operating rooms across the country every day,” said McGaughy. “Nearly twenty We have been researching and investing in surgical technology for 20 years. We are excited to partner with Augmedics, a clear leader in augmented reality surgery.”

To learn more about Augmedics and its augmented reality surgical navigation solutions, visit the company'swebsite.

Image/Video Source: Augmedics/YouTube