Tim Murawski’s Augmedics Listed as Finalist for ‘Best World-Changing Idea’
In the field of healthcare, companies like Augmedics are leading the way forward in innovative medical technologies. New advances in artificial intelligence, data management, and robotics are creating a world in which patients can receive better care than ever before, for a wider variety of ailments and problems. In particular, Chicago-based Augmedics is contributing one of the most game-changing technologies in the space. With leadership from the company President and Chief Commercial Officer Tim Murawski, Augmedics has quickly secured its spot as a key player in MedTech. And their innovation isn’t going unnoticed. In May 2021, the company was selected as a top finalist in the North American category for Fast Company’s yearly “World Changing Ideas” awards.
Augmedics was recognized for its development of the xvision Augmented Reality Spinal Solution. A device that combines the expertise of operating room staff with augmented reality technology, the xvision system has been instrumental in changing the way spinal procedures are done. Each year, Fast Company’s World Changing Ideas awards “honor products, concepts, companies, policies, and designs that are pursuing innovation for the good of society and the planet.” There are a variety of problems facing the global healthcare field, and Tim Murawski and the Augmedics team are proud to represent the future of medical technology. This is the third of such lists the company has been featured on in 2021 alone. More recently, the company was also nominated as a finalist for the 2021 Index Awards.
It’s no surprise that the company has managed to become so widely recognized in such a short time. The technology behind the xvision system is truly innovative and fulfills a growing need for high-quality, safe spinal procedures. Here’s more on how Augmedic’s achievements in augmented reality are changing the healthcare field as we know it.
Why the xvision system is a game-changer
Spinal procedures are notoriously difficult and require a high level of commitment from both patient and surgeon to perform successfully. What’s more, they often come with an elevated level of risk. Significant blood loss, clots, and prolonged and painful recovery are just a few of the risks associated with these types of operations. And in the developing world, these risks are only more apparent. The Augmedics team quickly recognized an opportunity to apply new technology to aid operating room staff in completing these procedures successfully. Through the xvision spinal system, physicians can cut down operation time by ⅔ while significantly reducing patient risk.
This is made possible through a combination of augmented reality and traditional navigational systems. Built around a made-to-fit headset, the xvision spine system allows operating room staff to be able to ‘see’ through a patient’s anatomy. An image of a patient’s anatomy and surgeon’s tools are projected onto the wearer’s retina in real-time, creating stunning x-ray vision capabilities. Rather than having to continuously switch between looking at the patient and looking at a secondary screen, the xvision headset lets users keep their focus on the patient, 100% of the time. Truly one of the most revolutionary technologies to launch in the medical field, Augmedics is rapidly changing the way hospitals approach these spinal procedures.
What’s more, spinal operations aren’t the only type of procedure that could benefit from Augmedic’s technology. As the xvision system continues to roll out in global markets, the company is exploring new capabilities. In the future, modified versions of the system could be used to aid in a variety of operations across the whole body. This extended innovation could prove tremendously important in improving patient outcomes in a number of areas.
More recent news from Augmedics
Along with placing as a finalist for the World Changing Ideas Awards, Augmedics has achieved a variety of noteworthy goals in 2021. In Q1 of this year, the company closed $36 million in an oversubscribed Series C financing round. This incredible round of fundraising brought the total funding to $63 million. Along with reaching FDA 501(k) clearance in late 2019, this fundraising has proven to be instrumental in helping Augmedics expand its global footprint.
More recently, the company also announced new board leadership. Augmedics announced in July that Rick Anderson would become executive chairman of the board, with Bradley Paddock serving as the board’s independent director. The pair brings extensive experience in executive leadership, acquisitions, and synergistic cost-saving strategies.
Throughout his career, Tim Murawski has been involved in pushing the limits of medical technology. As President and CCO of Augmendics, his work has revolved around building on the success of the xvision system and bringing it to a wider global audience. Under Mr. Murawski’s leadership, the company has become a leading voice in the MedTech space. And with the first AR-assisted spinal operation being completed with the help of xvision back in the summer of 2020, the company has already reached one of its biggest hurdles and milestones.
The future of Augmedics is looking bright. As the xvision system gains momentum in operating rooms across the country, Tim Murawski and the Augmedics team continue to explore new ways to bring the technology to new heights. Perhaps most critically, the AR device may soon be used as an aid in other procedures, making it one of the most important tools operating room staff could have at their disposal. For the Augmedic’s team, creating better patient outcomes is the ultimate goal, and they’re just getting started.