Commure Inc., a provider of technology services to healthcare systems, has entered into an agreement to buy Augmedix Inc. (Nasdaq: AUGX), an ambient AI medical documentation and data solutions company, for approximately $139 million in equity value.
Augmedix stockholders will receive $2.35 per share in cash upon completion of the proposed transaction, and San Francisco-based Augmedix will become a wholly owned subsidiary of Commure.
Since merging with Athelas, Commure’s suite of solutions includes Patient Engagement, Workflow Automation, Staff Safety, At-Home Patient Monitoring, Billing Solutions, and Automated Dictation.
“This proposed transaction with Commure provides certainty and a premium value for our stockholders, representing a transformative next step in Augmedix’s mission to unburden clinicians of administrative tasks while dramatically improving health system efficiency,” said Manny Krakaris, Chief Executive Officer at Augmedix, in a statement. “As part of Commure, we believe Augmedix will be well-positioned to scale ambient documentation solutions to even more clinicians and health systems while simultaneously accelerating efforts to infuse more innovative features, integrations, and AI capabilities into our product suite. Importantly, Commure is strongly aligned with Augmedix’s mission and vision for the future. We believe that the significant resources, deep industry expertise, and broadened technology capabilities we gain through this transaction will strengthen our market position, enable us to take advantage of more opportunities and create a powerful, future-focused company. We look forward to continuing to serve our customers and support our employees who are relentless in their pursuit of better clinical, operational, and financial outcomes.”
“Through our acquisition of Augmedix,” added Tanay Tandon, Chief Executive Officer at Commure, in a statement, “we’re taking a huge step forward in building the health AI operating system of the future, using language models to consolidate various point solutions into a single, integrated platform for providers, clinical operations teams, and healthcare IT.”
