Augmedics raises $82.5M in Sequence D funding

July 4, 2023 – Augmedics, a supplier of an augmented actuality (AR) surgical navigation platform, has just lately introduced the profitable shut of a USD $82.5 million Sequence D financing. The spherical was led by Dallas-based CPMG and noticed Evidity Well being Capital be a part of as a syndicate companion. Present traders H.I.G. Capital, Revival Healthcare Capital, Almeda Ventures additionally joined the spherical.

The funds will assist Augmedics to increase its US industrial footprint, in addition to the supply of next-generation platform developments, which can allow mass-scale adoption of the xvision expertise, in keeping with the corporate.

The funding information comes on the heels of a brand new industrial milestone for Augmedics, which marked its document 4,000th US affected person handled with the corporate’s ‘xvision’ Backbone System. Xvision makes use of augmented actuality to provide surgeons “x-ray imaginative and prescient” throughout surgical procedure, and have become the primary FDA-approved AR navigation system for surgical procedure.

The corporate’s expertise superimposes vital knowledge onto the surgical area, permitting surgeons to visualise affected person anatomy by means of pores and skin and tissue and to precisely navigate devices and implants throughout backbone surgical procedure. In contrast to conventional navigation methods, which require surgeons to repeatedly look away to an ancillary display screen, xvision permits surgeons to maintain their eyes instantly on the affected person, which Augmedics said offers higher visualization, management, and accuracy throughout backbone procedures.

The corporate famous that its xvision expertise has seen fast adoption since its US industrial launch in 2020, together with by quite a few educational establishments throughout the nation. As adoption has accelerated, so too have the system’s capabilities; Augmedics launched a big platform enlargement in March 2023 together with the system’s first synthetic intelligence (AI) software, 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 sector of backbone 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 assets to proceed main the market within the adoption of augmented actuality backbone surgical procedure.”

With the brand new funding secured, Augmedics additionally introduced that CMPG’s Kent McGaughy and Evidity’s Paul Enever will be a part of the corporate’s board of administrators.

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

For extra info on Augmedics and its augmented actuality surgical navigation options, please go to the corporate’s website.

Picture / video credit score: Augmedics / YouTube