Augmedics Strengthens AR/AI Portfolio With Planned Acquisition of Surgalign Digital Health Assets

CHICAGO, July 31, 2023–(BUSINESS WIRE)–Augmedics, a pioneer in augmented reality (AR) surgical navigation, today announced it has been named the successful bidder for the digital health assets of Surgalign and Holo Surgical following a competitive auction process. The news comes a month following Augmedics’ $82.5 million raise to accelerate the adoption of augmented reality spine surgery and further strengthens the company’s AR and AI portfolio with intellectual property and other digital health assets.

“We are pleased to further expand our strong technical and intellectual property position in the field of augmented reality surgery with this planned acquisition,” said Augmedics President & CEO Kevin Hykes. “Augmedics shares Surgalign’s passion for developing cutting-edge technology in the name of improved surgical outcomes. We look forward to leveraging these assets to further evolve the xvision platform.”

The sale will close pending approval by the Bankruptcy Court at a hearing set for August 8, 2023.

About Augmedics

Augmedics pioneers cutting-edge augmented reality technologies to improve surgical outcomes. The company’s revolutionary xvision Spine System® allows surgeons to see patients’ anatomy as if they have “x-ray vision” and accurately navigate instruments and implants during spine procedures. The first-of-its-kind, FDA-cleared xvision has been used to treat over 4,000 patients and implant more than 20,000 pedicle screws across 21 US states. xvision has consistently demonstrated 97-100% accuracy of pedicle screw placement across multiple patient studies.

Augmedics has received numerous honors, including being named a 2021 Index Awards Finalist, a Fast Company World Changing Ideas Awards 2021 Finalist, and one of Time Magazine’s Best Inventions of 2020. It was recently featured in The Economist documentary How will businesses use the metaverse?

To learn more or schedule an xvision demo, visit


Alexa Bourdage

About Peter Coffaro 506 Articles
Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.

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