It's been an incredible year for Augmedics. The creators of the xvision spine system continue to transform the healthcare space for the better with groundbreaking technology. And the company shows no sign of slowing down. After raising $36 million in Series C fundraising in Q1, the revolutionary health tech company was listed as a finalist for the 2021 Index Award. Thanks to dedicated leadership from President and Chief Commercial Officer Tim Murawski, the company continues to achieve recognition for its innovative technology.
Finalists for the 2021 Index Award were announced in July, with Augmedic's xvision receiving widespread recognition for its underlying technology and design. The Index Project was launched as a Danish nonprofit organization in 2002. Since then, its aim has been to highlight designs that improve life and meet the needs of today's society. Currently the biggest and most well-known design award globally, the Index Award can help launch inventive companies to new heights. For the Augmedics team, recognition from this organization just confirms the need for the xvision system in today's medical landscape.
Below is more information about Augmedic's xvision spine system, and how leaders like Tim Murawski are expanding the company's capabilities in 2021.
The xvision spine system is the first of its kind. Using augmented reality, this technology allows operators to 'see' patients' anatomy through tissue and skin. Almost like having x-ray vision, medical physicians are able to visualize a patient's spinal systems in 3D. And through this, they're able to perform operations while actually looking at patients, and not a screen. As spinal procedures are often highly difficult and require high levels of dexterity to perform correctly, having this AR component gives operators the tools they need to succeed. Of course, patients also feel better knowing their procedure is being aided by groundbreaking technology.
The xvision system consists of an AR headset that surgeons wear during procedures. The system utilizes proprietary and unique reference markers which allows operating physicians to accurately see the position of their instruments in real-time. These positions are also superimposed on each patient's CT data. While in operation, navigational data is projected onto the surgeon's retina as they view the patient. This takes away the need to continually switch between secondary screens throughout the procedure. Amazingly, this technology not only improves procedural accuracy and efficacy but also improves time efficiency, cutting down operation times by two-thirds in many cases.
How it's changing healthcare
As of today, spinal procedures are one of the most common (and rapidly growing) medical operations globally. An umbrella category comprising of many different types of procedures, spinal operations are often quite complex. If something goes wrong during the procedure, it can create serious complications for the patient. This is why Augmedic's xvision system is so important to the field. Take the example of a lumbar spinal fusion - a common procedure. In a traditional setting, this can take medical staff up to 7 hours to successfully complete. With the assistance of the xvision system, however, that time can be cut significantly. Ultimately, less time spent in the operating room means a much smaller risk of complications like blood loss and creates better chances for a patient's quick recovery.
The xvision spine system has truly been able to revolutionize the way these procedures are done. Creating safer environments for patients and operating physicians alike is of the utmost importance, and that should be done while working to improve OR workflows as well. Working together in tandem, better workflows and safer operating room procedures build better trust between healthcare providers and the patients they serve.
One of the great things about Augmedics is that it's not only making spinal operations safer and easier. Since its inception, the company has been actively working to bring xvision technology to medical centers around the globe. By providing the system at a fraction of the cost of traditional navigation and robotics systems, Augmedics is making it more accessible than ever for OR teams to utilize this technology. As an added bonus, The xvision system is compatible with any spine pedicle screw implant and any intraoperative CT scanner used in procedures.
Tim Murawski's leadership
Of course, no company could create as much of an impact - and find its way to the final round of an internationally recognized competition - without great leadership. President and Chief Commercial Officer Tim Murawski has been with Augmedics from the beginning, bringing clarity of vision and a strong sense of purpose to the company. As a longtime leader in the medical device space, he has continually demonstrated a commitment to creating a better future of healthcare through technology. When it comes to making waves in the healthcare space, it's not enough to simply have a great idea. A truly revolutionary product is made when a dedicated team comes together under strong leadership to address a need. And that's what Augmedics has been doing since 2014.
But being recognized on the global stage is not the final goal for the MedTech company. Moving forward, Tim Murawski notes that the company plans to expand the possibilities of augmented reality in healthcare. With a small OR footprint and affordable cost to medical centers, the xvision system could easily create new opportunities for physicians to utilize AR in new contexts. Thanks to an adaptable, flexible technology behind the system, spinal procedures are not the end game. But a healthcare system that's built on better patient care is.