Augmedics

Augmedics is a provider of surgical guidance solutions that leverage AR. Its first product, the xvision-spine (XVS) system, which was cleared by the US Food and Drug Administration (FDA) in December 2019, allows surgeons to visualize the 3D spinal anatomy by allowing them to see through skin and tissue (like X-Ray vision) while performing complex spine procedures. 

The system comes with a near-eye-display headset in addition to all elements of a traditional navigation system. It can track and position surgical tools in real time and project the navigation onto the transparent AR display without attracting the surgeon’s attention to a remote screen. In March 2023 Augmedics announced the launch of a new set of FDA-cleared features for its xvision platform, following its 3,000th patent milestone.

In August 2023, Augmedics acquired the digital health assets of Surgalign and Holo Surgical for USD 0.9 million in cash. The company integrated these offerings with its own AR-based and AI-based solutions, including its FDA-cleared xvision platform.

The company claims the system also provides better visualization, control, and accuracy. The system, which the company claims is the only FDA-approved augmented reality surgical image guidance system, was commercially made available in the US in the second half of 2020.

The company generates revenue through outright sales of the system, which costs around USD 180,000, to surgical centers. 

Key customers and partnerships

In January 2024, the company had noted that its xvision Spine System was used in the treatment of ~5,000 US patients since the system's inception.

Funding and financials

In June 2023, Augmedics raised USD 82.5 million in a Series D funding round led by CPMG. The funding was to be used to continue expanding Augmedics' US commercial footprint and enable mass-scale adoption of its proprietary xvision technology.