Issue link: https://beckershealthcare.uberflip.com/i/1483210
28 DEVICES & IMPLANTS Augmedics founder exits company after 'significant changes', 'disagreements' with new leadership By Alan Condon Nissan Elimelech, former CEO of Augmedics, has le the augmented reality spine surgical company he founded in 2014. Augmedics began a new chapter in January when Kevin Hykes, a 30- year medtech veteran with previous roles at Medtronic and Boston Scientific, succeeded Mr. Elimelech as president and CEO. Since January, Mr. Elimelech has operated as chief product officer. "Significant changes in the company and disagreements with the new management and board, have led to my departure from the company I have founded and managed for so many years," Mr. Elimelech wrote in a Sept. 14 LinkedIn post. "I am now sitting on the sidelines in the cheerleading role, hoping that the company and the technology we have built will be as successful and transformative as we all hoped it will be." A number of leadership changes took place at Augmedics in 2021: Raj Asarpota, a former NuVasive executive was appointed CFO; Nadav Tomer, former DePuy Synthes global spine president joined the board of directors; former Medtronic executive Reed Krider was named chief marketing officer; and Bradley Paddock, Stryker's former global president of spine, was named independent chair of the board. Earlier in 2022, the company's Xvision spine system, which is impressing spine surgeons with its potential to limit complications associated with instrumented spine surgery and improve procedural efficiency, surpassed 2,000 cases. n Johnson & Johnson to develop spine robot to rival medtech competitors By Alan Condon J ohnson & Johnson is planning to develop its own spine robot to rival the platforms launched by Medtronic, Globus Medical and emerging device companies, company executives said Sept. 7 during the 2022 Wells Fargo Healthcare Conference, according to Seeking Alpha. Ashley McEvoy, executive vice president, worldwide chair of Johnson & Johnson's medtech business, said the company's orthopedics sector — such as hips and trauma — is gaining market share, but spine has been losing ground. Johnson & Johnson said it will develop a spine robot on the back of the success of its Velys system for total knee replacement, which recently surpassed 10,000 cases, according to the company. Ms. McEvoy did not provide a timeline for the robot but said "three important innovations" are expected to reshape the company's spine portfolio "in the next couple of years." n Elevation Spine raises $11M to expand use of spinal fusion device By Alan Condon E levation Spine, a developer of integrated-fixation spinal technologies, on Sept. 22 completed its Series B preferred stock financing, totaling $11 million. The funding was led by Technology Venture Partners and included participation from Mutual Capital Partners and existing investors. Elevation Spine also appointed Donald Bossi and Bryson Hollimon, both of Technology Venture Partners, to its board. Elevation Spine CEO Charles Gilbride said the company will use the funding to build out a full commercial team and expand the use of its Saber-C system for spinal fusions. "Saber Technology is an important advancement in spinal fusion technologies," Mr. Bossi said in a Sept. 22 news release. "It allows surgeons to access hard-to-reach areas of the spine more easily and with fewer procedural steps. This differentiated technology provides significant advantages to the surgeon and the patient over current technologies and has a very exciting future." n "I am now sitting on the sidelines in the cheerleading role, hoping that the company and the technology we have built will be as successful and transformative as we all hoped it will be." Nissan Elimelech