Augmedics, an augmented actuality surgical navigation platform, introduced it efficiently received a bid to buy the digital well being belongings of Surgalign and Holo Surgical for $900,000 in money, following the backbone expertise firm’s chapter.
Surgalign’s digital well being choices embody its HOLO Portal, an AI-driven augmented actuality steering system that enables intraoperative image-guided navigation of a affected person’s backbone. The patented AR system permits for a 3D overlay of the affected person’s anatomy; 3D focusing on and trajectory are additionally superimposed in actual time on surgical devices.
Augmedics will add Surgalign’s choices to its AR-based and AI-based choices, together with its xvision platform, which obtained FDA clearance in 2019.
The xvision Backbone System makes use of augmented actuality to present surgeons a 3D picture of a affected person’s spinal anatomy instantly of their line of sight throughout surgical procedure, which permits surgeons to take a look at the affected person as an alternative of a distant display screen.
“We’re happy to additional develop our robust technical and mental property place within the subject of augmented actuality surgical procedure with this deliberate acquisition,” Kevin Hykes, Augmedics president and CEO, mentioned in a press release. “Augmedics shares Surgalign’s ardour for growing cutting-edge expertise within the identify of improved surgical outcomes. We sit up for leveraging these belongings to additional evolve the xvision platform.”
THE LARGER TREND
Publicly-traded Surgalign voluntarily filed for chapter in June.
In a filing with the U.S. Securities and Change Fee, the corporate famous it entered into an Asset Buy Settlement with Xtant Medical Holdings, which might purchase its belongings associated to its “enterprise of designing, growing and manufacturing {hardware} medical expertise and distributing biologics medical expertise” and assume sure of the corporate’s liabilities for a complete buy value of $5 million in money. That deal was solidified in the course of the asset sale on Friday.
The worldwide med-tech firm’s belongings had been bought to Xtant and Augmedics for $5.9 million.
In June, Augmedics scored a whopping $82.5 million in Series D financing.
In 2021, it garnered $36 million in Series C funding with a global syndicate of Israel-U.S. traders eight months after it closed its $21 million Sequence B financing.
