H.I.G. Capital News
Augmented Reality Pioneer Augmedics Announces New CEO in Support of Accelerating Growth
CHICAGO – January 18, 2022 – Augmedics, a pioneer in augmented reality (AR) surgical navigation, today announced its newest executive leadership addition in support of the accelerating growth of the company’s revolutionary AR-driven xvision system®.
The company announced the appointment of medtech executive Kevin Hykes as President and Chief Executive Officer. Hykes is a 30-year medical device veteran with expertise in commercializing novel technologies and scaling high-growth companies, and a significant track record of delivering investor value. His appointment follows that of Chief Financial Officer Raj Asarpota, himself a distinguished 28-year veteran of the industry, as well as Augmedics’ oversubscribed $36 million Series C led by H.I.G. Capital, Revival Healthcare Capital, and Almeda Ventures in March 2021.
Hykes’ appointment as CEO signals an exciting new chapter in Augmedics’ growth trajectory, and a commitment by investors to leverage the early commercial success of the xvision system in building a world-class augmented reality surgical guidance company.
“I am thrilled to welcome a commercial CEO of Kevin’s caliber,” said Augmedics founder Nissan Elimelech, who will stay with the company as Chief Product Officer. “Our ability to recruit veteran operating executives like Kevin and Raj is a testament to the game-changing potential of the xvision system in the surgical market. Kevin’s track record speaks for itself, and I can’t wait to work with him in this exciting new chapter of Augmedics’ history.”
“While there are a number of virtual and augmented reality visualization systems on the market for educational and planning purposes, Augmedics is the first-ever AR system to demonstrate the precision and accuracy necessary for approval as a surgical guidance system and remains the leading spine-based system on the market,” said Hykes. “I am excited to lead the company into this next era as we continue to fundamentally disrupt the way that surgery is practiced with the groundbreaking xvision system.”
“I am proud to welcome Kevin as the next CEO of Augmedics and would like to thank Nissan for his intrepid leadership over the last seven years,” said Augmedics Chairman of the Board Rick Anderson. “The recruitment of proven and successful commercial leaders like Kevin and Raj speaks to what we have achieved to date and is a strong vote of confidence for the future. This next phase of the company will be marked by extraordinary achievements both in technology development and market expansion. We are delighted to welcome outstanding leaders who share our commitment and passion to make the xvision technology the leading augmented reality platform in healthcare.”
Augmedics (Chicago, IL) is an augmented reality surgical navigation pioneer that aims to improve surgery outcomes with cutting edge AR technologies that solve unmet clinical needs and instill technological confidence in the surgical workflow. The medtech company’s FDA-cleared revolutionary xvision Spine System®, the first augmented reality guidance system, allows surgeons to “see” the patient’s anatomy through skin and tissue as if they have “x-ray vision,” and to accurately navigate instruments and implants during spine procedures. 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. For more information, visit www.augmedics.com.