Issue link: https://beckershealthcare.uberflip.com/i/1467576
60 ORTHOPEDICS Augmedics' new-look leadership set to disrupt the spine industry By Alan Condon A ugmedics, developer of the Xvision augmented reality spine surgery system, began 2022 with a new CEO and recently added former Medtronic and Johnson & Johnson executives to its leader- ship team to help take the company to the next level. Eight key developments at Augmedics: 1. Former Medtronic and Boston Scientific executive Kevin Hykes took over as president and CEO of Augmedics in January. 2. CFO Raj Asarpota was appointed in Sep- tember 2021. He has a wealth of experience in the financial sector, including roles at Nu- Vasive, GE and Life Technologies. 2. In March, Augmedics added former DePuy Synthes global spine president Nadav Tomer to its board of directors and former Medtronic executive Reed Krider as chief marketing officer. 3. Neurosurgeon James Lynch, MD, per- formed the first spine surgery with Xvision using the Perc Pin in September 2021. e Perc Pin helps keep the patient marker in a surgeon's field of view while avoiding the surgical site and reduces the incision size for percutaneous procedures. 4. Stryker's former global president of spine Bradley Paddock was named independent chair of Augmedics' board in July 2021. He has more than 25 years of experience in the medtech industry and is president and CEO of CeQur SA, which focuses on insulin de- livery devices. 5. Rick Anderson was named executive chair of the board in July 2021. He has more than 30 years of experience in investing and ex- ecutive leadership, with previous roles at Johnson & Johnson and ConvaTec. He is also chair of Revival Healthcare Capital, a private equity firm in Austin, Texas. 6. In May 2021, Kornelis Poelstra, MD, PhD, director of the Robotic Spine Institute of Las Vegas, performed the first spine surgery that combined AR with a surgical robot. Dr. Poel- stra used Xvision and Medtronic's Mazor X robot to perform the procedure and believes enabling technologies such as robotics and augmented reality are "just beginning to scratch the surface" in spine surgery. 7. In March 2021, Augmedics raised $36 mil- lion in an oversubscribed series C financing with the help of Israel-U.S. investors. e series C financing comes eight months aer Augmedics closed a $21 million series B fi- nancing. e total funding is now $63 mil- lion. 8. Xvision was named one of the best inven- tions of 2020 by Time magazine in Novem- ber 2020, six months aer Frank Phillips, MD, of Chicago-based Midwest Orthopae- dics at Rush, performed the first minimally invasive augmented reality-assisted spine surgery with the device. n Stryker sets sights on health IT with splashy $3.1B acquisition By Alan Condon S tryker has acquired 46 companies in its 81-year history, including 14 in the last five years. Its most recent acquisition, Vocera Communications, was finalized in February for $3.1 billion. But what does Stryker have planned for the health IT company? The deal has been described as a "natural fit" for Vocera by BTIG analyst Ryan Zimmerman, who also said it appears Stryker is expanding beyond its core medtech focus. For Stryker, the acquisition offers "significant opportunities to advance innovations and accelerate our digital aspirations", a core focus for the future, CEO Kevin Lobo said in a Feb. 23 news release. The company said it is interested in Vocera's "highly complementary and innovative portfolio" of clinical communication and workflow products — used in nearly 1,900 healthcare facilities — to help connect caregivers and "disparate data-gen- erating medical devices." Specifically, Vocera's software and hardware for remote communication complements Stryker's advanced digital health- care offerings and will help its customers prevent adverse events throughout the care continuum, according to the release. Vocera's latest technology, a wearable, voice-driven device that allows mobile healthcare workers to communicate hands- free, launched in March. The device integrates with various clinical and operational systems and enables those in isolated environments to stay connected, ask for help, access information and request supplies without having to leave the bedside or remove personal protective equipment. Vocera CEO Brent Lang said the Stryker acquisition is "an exciting opportunity for Vocera, given the clear alignment of mission, goals and culture between our two organizations and our ability to drive even greater economic and clinical value for our customers." n