Augmedics’ augmented reality navigation system, xvision, gives surgeons “x-ray vision” and allows accurate navigation of instruments and implants during surgery. Photo: Augmedics
Augmedics, an Israeli medtech startup developing augmented reality (AR) surgical navigation tech called xvision, raised $82.5 million in a Series D financing round led by Dallas-based CPMG. The news comes the same week the company marks its record 4,000th US patient treated with the xvision Spine System® which uses augmented reality to give surgeons “x-ray vision” during surgery.
xvision is an innovative technology that has the potential to revolutionize spine surgery. By providing surgeons with real-time augmented reality visualization, xvision can help to improve accuracy, reduce complications, and shorten recovery times, boasts Augmedics.
Specifically, xvision allows surgeons to keep their eyes directly on the patient. This is a major advantage over traditional navigation systems, which can be distracting and can lead to errors. With xvision, surgeons can focus their attention on the patient and the surgical field, which can help to improve patient safety.
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Augmedics says that among the benefits offered by xvision are, increased precision – xvision can help surgeons to be more precise in their movements, which can reduce the risk of complications – and improved visualization – xvision provides surgeons with a better view of the surgical field, which can help them to identify and avoid critical structures.
Founded in 2014 by Nissan Elimelech, Augmedics has received numerous honors, including being named a 2021 Index Awards Finalist, a Fast Company World Changing Ideas Awards 2021 Finalist, and one of Time Magazine’s Best Inventions of 2020. It was recently featured in The Economist documentary How will businesses use the metaverse?
“To close an $82.5M round in the current fundraising environment is a testament to the dramatic impact Augmedics is making on the field of spine surgery. The accomplishment is underscored by the tremendous achievement of 4,000 patient lives impacted,” said Augmedics President & CEO Kevin Hykes. “We are pleased to secure the resources to continue leading the market in the adoption of augmented reality spine surgery.”
“In CPMG and Evidity, we are proud to welcome two world-class partners who bring tremendous expertise to the table,” said Augmedics Chairman of the Board Rick Anderson. “This financing signifies the utmost confidence in the xvision technology and its role in redefining the standard of care for enabling technology in spine surgery. We are thrilled with this significant runway into the future as we execute against our mission to revolutionize surgery for patients and the surgeons who treat them.”
