Commure Inc., a technology services provider for healthcare systems, has entered into an agreement to acquire Augmedix Inc. (Nasdaq: AUGX), an ambient artificial intelligence medical data and documentation solutions company, for approximately $139 million in equity value.
Augmedix shareholders 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, home patient monitoring, billing solutions and automated dictation.
“This proposed transaction with Commure provides certainty and premium value for our shareholders, representing a transformative next step in Augmedix’s mission to free physicians from administrative tasks while dramatically improving healthcare system efficiency,” Manny Krakaris, CEO of Augmedix, said in a statement. “As part of Commure, we believe Augmedix will be well positioned to expand environmental documentation solutions to even more physicians and healthcare systems while 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 the significant resources, deep industry expertise, and expanded technology capabilities we gain through this transaction will strengthen our market position, enable us to seize further opportunities, and create a powerful, future-focused company.” We look forward to continuing to serve our customers and support our employees who are tireless in their pursuit of improved clinical, operational and financial outcomes.”
“Through our acquisition of Augmedix,” Commure CEO Tanay Tandon added in a statement, “we are taking a major step forward in building the healthcare AI operating system of the future, using language models to consolidate multiple point solutions into a single, integrated platform for providers, clinical operations teams and healthcare IT.”
