Minute Insight: Augmedics Completes Mop Up Of Surgalign Bankruptcy
Surgalign was forced into bankruptcy after falling foul of the US SEC, leaving Audmedics to pick up its digital health assets for the bargain price of $900,000.
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US financial regulators said that the spinal device company falsely attributed future sales to the current quarter as a way to disguise lower-than-expected sales.
The company is marketing the xvision spine system, the only FDA-approved augmented reality surgical image guidance system.
News We’re Watching: Free COVID-19 Tests, Edwards Antitrust Investigation, McKinsey Calls For Medtech ‘Reinvention’
This week, the US government relaunched a program providing free COVID-19 tests and invested $600m in domestic test manufacturing; the European Commission revealed an antitrust investigation of Edwards LifeSciences; and a consulting firm report said the medtech industry should make big changes to address investor skepticism.