Augmedics has taken a pioneer position in healthcare. Under the leadership of Tim Murawski, Augmedics leads healthcare into the future with its flagship product named xvision. This futuristic system allows surgeons to visualize in 3D the anatomy of a patient’s spine during surgery. In addition, this amazing tool will enable surgeons to navigate their instruments accurately while focusing on the patient and not a screen. This revolutionary development in surgery is a trademark of Augmedics and the company’s values.
As president and Chief Commercial Officer, Tim Murawski has shown exemplary leadership in his company and business. A specialist in medical robotics, Tim Murawski has made a name for himself with his innovation and execution. To better understand this company, it is essential that we first understand what it is precisely that Augmedics does.
What does Augmedics do?
Augmedics is a primary provider of technology known as Augmented Reality. In its most simple terms. Augmented reality is the presentation of an enhanced version of the physical world through digital elements. By using augmented reality to produce 3D visuals of the spinal system, Augmedics has harnessed the power of this technology in a new way.
The primary goal of Augmedics is to optimize surgery by using cutting-edge technology. To achieve this goal, Augmedics has developed a pioneering surgical system named xvision. The xvision system gives surgeons X-ray vision, making it easier for them to perform complex surgeries.
The xvision spine system was first successfully used in John Hopkins. The first application, xvision, was for spinal fusion surgery. The xvision spine system helped surgeons successfully navigate the instruments to complete a posterior lumbar decompression. Every year, 1.62 million instrumented surgeries are performed in the United States. By creating the xvision spine system Augmedics provides a solution for surgeons. A majority of instrumented surgeries are done freehand and usually produce sub-optimal results. In fact, 31 percent of freehand screw positioning ends up being inaccurate. While this considerably low percentage is a testimony to the skilled work of medical professionals, there is no doubt that surgeons could achieve better results using xvision technology. Augmedics xvision significantly improves the rate of success in surgeries. A whopping 95% success has been recorded in surgeries where surgeons used this technology.
How does it work?
The xvision spine system is so successful because it addresses the unmet needs of surgeons. The XVS system is made up of a transparent near-eye-display headset. The XVS headset contains all of the elements of a traditional navigation system. In addition to determining the surgical tools’ position, the headset also sets a visual trajectory on the patient’s CT in real-time. To work effectively, the xvision spine systems’ 3D navigation is projected onto the surgeons’ retina, allowing the surgeon to look at the patient while studying the navigation data simultaneously. This revolutionary development in medical technology has produced a 98.9 percent accuracy in screw placement accuracy.
Tim Murawski’s Leadership
The xvision spine system would not have been as much of a success as it has proven to be without proper leadership at Augemedics. As a company, Augmedics t has always maintained that it is and has always been a company devoted to providing solutions. In an interview during the launch of the xvision spine system, Mr. Murawski commented that “We are a team of problem solvers. The creativity and ingenuity of our company began when Augmedics launched to solve a problem our founder saw in the operating room, and it runs through each and every employee who is working to make the vision a success “.
Since its FDA approval in December 2019, Augmedics has been used to complete over 650 successful spinal surgeries. Tim Murawski explains that the xvision spine system is special because it was developed to have surgeon autonomy. This means that surgeons and other medical personnel can use the technology without having representation in the room. Mr. Murawski explains that this was incorporated into the development in order to beat the learning curve and make the product very easy to use. In addition, he explains that Augmedics included this design feature with consideration for the current COVID-19 situation.
Commercial Success of Tim Murawski
Augmedics is more than just an innovative company with a breakthrough product. The company’s commercial success is also very worthy of note. In the thick of the Covid-19 pandemic, the company was able to raise 15 million dollars in series B financing led by its staff. After announcing its Food and Drug Administration (FDA) clearance and its U.S. launch of its pioneer xvision spine system, Augmedics was ready to make full investor decisions and sign a term sheet. Unfortunately, in March of 2020, the COVID-19 pandemic struck, bringing investor relations and plans to an abrupt halt. In addition, as a result of the pandemic, there was a pause in elective procedures such as spinal surgeries. Despite being faced with these difficult hurdles, the company was able to complete a successful launch of its amazing technology.
Led by Tim Murawski, the company proceeded to raise funds needed for their launch internally. By reaching out to employees who saw the vision, the company’s Chief Commercial Officer, Tim Murawski, was able to raise $5 million. He also reached out to former investors, from whom he was able to raise 3.2 million. Mr. Murawski finally raised 7.8 million from undisclosed investors with the use of SAFE notes. This dogged determination is in line with the company’s problem-solving values. Commercially, the number of sales the company has seen is proof that the risk Augmedics employees took to launch their product was worth it. The success of xvision as a product can be tied to the work of the employees of Augmedics.