Augmedics Raises $82.5M in Series D

Augmented reality (AR) surgical navigation pioneer Augmedics has successfully closed an $82.5 million Series D financing, led by Dallas-based CPMG and added Evidity Health Capital as a syndicate partner, with participation from current investors H.I.G. Capital, Revival Healthcare Capital, Almeda Ventures and others.
 
The company also marked its record 4,000^th U.S. patient treated using the xvision Spine System, which uses AR to endow physicians with “x-ray vision” during surgery. The funding will support an expanding U.S. commercial footprint and delivery of next-gen platform advancements to allow mass-scale adoption of xvision technology.
 
Augmedics’ xvision became the first FDA-approved AR navigation system for surgery in December 2019. The tech superimposes critical data onto the surgical field so surgeons can visualize anatomy through skin and tissue and accurately navigate instruments and implants during spine surgery. xvision lets surgeons keep their eyes on the patient, creating better visualization, control, and accuracy during spine procedures.
 

Augmedics launched a major platform expansion in March 2023 including the system’s first artificial intelligence (AI) application, laying groundwork for future platform developments further supported by the financing.
 
“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,” Augmedics president and CEO Kevin Hykes told the press. “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,” added 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.”