The future of healthcare is closer than you think. Chicago-based MedTech company Augmedics is transforming the way spinal operations are done. By putting groundbreaking technology directly in the hands of expert physicians, Augmedics is doing something once thought impossible. Through the leadership of President and CCO Tim Murawski, the company is bringing augmented reality to the operating room.
The medical technology space has long sought to align tech with patient and community needs. In a time where having access to expert-level, quality care is more important than ever, healthcare technology companies continually seek to innovate. However, many fail to reach the success and acclaim as has been achieved by Augmedics. Under great leadership and a truly revolutionary vision, Augmedics has become one of the leading MedTech names in the industry. What's more, in a field saturated with devices that utilize artificial intelligence or deep learning, Augmedics is one of the few companies making strides in care through augmented reality.
Before expanding on the company's pioneering xvision spinal system, here's more information on President and COO Tim Murawski and Augmedic's mission.
A prominent figure in the medical device community, Tim Murawski has over 20 years of experience introducing disruptive technologies into the market. Since 2019, he has been leading Augmedics to achievement after achievement. Through the guiding principle of believing the status quo isn't good enough, Mr. Murawski has been able to lead his team to make a measurable impact on operating rooms across the world.
As the success of Augmedics became more and more apparent, Tim Murawski led an incredible internal effort to raise funds among the team. After closing $15 million in Series B funding, $5 million of which were internally raised, these internally raised funds became the final key needed to secure Augmedic's future during the onset of the pandemic. As investor activity quickly slowed to a halt, this passionate fundraising effort helped ensure a wildly successful launch of Augmedic's xvision spine system in the latter half of 2020.
As of 2021, the company has been moving from strength to strength. In quarter 1, Augmedics closed out a series C funding round with an impressive $36 million, bringing total funds raised to over $63 million. These investments were made possible by the company catching the eyes of H.I.G. Capital, Revival Healthcare Capital, and Almeda Ventures. As Bruce Robertson, Managing Director at H.I.G. Capital explained, "Augmedics is a commercial success story of integrating breakthrough medical technology into complex surgeries, a trend that we believe will only grow stronger."
Augmedics itself has made waves in the medical community for being one of the most prominent companies to utilize augmented reality. A technology that blends the physical world with the digital, AR allows users to 'see' digital information overlaid in the real world, in real-time. This, of course, has a myriad of implications for the healthcare space, especially in the operating room. To be able to give operating physicians the ability to see critical information through their own eyes - without having to navigate between different sets of screens or devices - is huge. And this is the future Augmedics has been tirelessly working toward since 2014.
Their biggest accomplishment to date, the xvision spine system (or XVS) gives operating room staff the gift of second sight. Keep reading to learn more about how the xvision system is changing the way spinal procedures are handled.
The innovation driving Augmedic's role as a healthcare pioneer is the aptly named xvision spine system. The first-ever navigation system built around augmented reality, XVS allows surgeons to 'see' in x-ray vision. The patient's spine can be seen through their skin and tissue, giving surgeons the ability to navigate instruments, implants, and other procedures without having to look away from the patient. This is made possible through a custom headset featuring a near-eye display, along with elements of a traditional navigational system.
When wearing this headset, medical professionals can see the position of surgical tools and patient CT data superimposed on whatever they're currently looking at. Without the need to continuously look away toward another screen, surgeons can perform critical surgeries in as little as ⅓ the traditional time. Along with being an incredible time-saving device, the XVS also gives better, more accurate control to physicians, ultimately creating safer procedures.
Today, many operating rooms don't have the advantage of technology on their side. And those that do often have to rely on clunky or outdated devices that don't adequately meet staff's needs. By combining the ease of augmented reality with a wearable navigation system, Augmedics is making it easier for technology to provide the kind of assistance ORs truly need. Providing this support is one of the most critical keys to creating better patient outcomes. As the number of spinal procedures performed each year continues to grow, patient safety has to be first priority. Through the xvision system, procedures can be done much faster, reducing the risk of serious complications that can result from anesthesia or blood loss. In turn, this also improves the chances for patients to have a rapid, successful recovery.
Bringing augmented reality to spinal procedures is just the first step of many toward unlocking a better future for operations. One of the most exciting pieces of news that Augmedics has to offer is that it is currently looking to expand the possibilities of its technology. The Augmedics team is working hard to adapt its navigational AR systems to be able to accommodate different types of procedures. In the future, ORs could rely on the company's technology to perform a wide variety of procedures across the whole body.