Augmedics announced today that it successfully bid for the digital health assets of Surgalign and Holo Surgical following an auction.
Surgalign conducted the court-supervised marketing and sale process following its Chapter 11 bankruptcy filing in June. It conducted the auction process in accordance with bidding procedures approved by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
According to Surgalign, Augmedics bid for the digital health assets with a cash purchase price of $900,000. It also includes the assumption of certain liabilities.
The Chicago-based augmented reality-based surgical navigation technology developer says the purchase strengthens its portfolio with IP and other digital health assets. Augmedics expects the sale to close pending Bankruptcy Court approval at a hearing set for Aug. 8.
This news follows last month’s announcement of an $82.5 million fundraising round for Augmedics.