Augmedix to Join Forces with Commure

Mix to Reinforce Capacity to Supply Frontier Ambient AI Solutions; Augmedix Stockholders to Obtain $2.35 Per Share in All-Cash Purchase by Commure

Augmedix, Inc., a leader in ambient AI clinical paperwork and information options, today introduced that it has actually participated in a clear-cut contract to be gotten by Commure, Inc., a leading service provider of innovation to health care systems, in an all-cash deal that values Augmedix at around $139 million in equity worth.

Under the regards to the contract, Augmedix shareholders will certainly get $2.35 per share in cash money upon conclusion of the recommended deal, and Augmedix will certainly come to be a wholly-owned subsidiary of Commure. The acquisition rate stands for a costs of around 169% over the volume-weighted ordinary rate (VWAP) of Augmedix’s ordinary shares for the one month finishing July 18, 2024.

” This recommended deal with Commure gives assurance and a costs worth for our shareholders, standing for a transformative following action in Augmedix’s goal to unburden medical professionals of management jobs while substantially enhancing wellness system performance,” stated Manny Krakaris, President at Augmedix. “As component of Commure, our team believe Augmedix will certainly be well-positioned to range ambient paperwork options to a lot more medical professionals and wellness systems while concurrently increasing initiatives to instill even more ingenious attributes, combinations, and AI abilities right into our item collection. Significantly, Commure is highly straightened with Augmedix’s goal and vision for the future. Our team believe that the considerable sources, deep market experience, and widened innovation abilities we obtain with this deal will certainly reinforce our market setting, allow us to capitalize on even more possibilities, and develop an effective, future-focused business. We eagerly anticipate remaining to offer our consumers and sustain our staff members that are unrelenting in their quest of much better scientific, functional, and monetary end results.”

” With our purchase of Augmedix,” included Tanay Tandon, President at Commure, “we’re taking a significant progression in constructing the wellness AI os of the future, making use of language versions to settle numerous factor options right into a solitary, incorporated system for suppliers, scientific procedures groups, and health care IT.”

Deal Information

Under the regards to the contract with Augmedix, Commure will certainly get all exceptional shares of Augmedix ordinary shares for an overall equity worth of around $139 million. Augmedix shareholders will certainly get $2.35 in cash money per share. Augmedix’s Board of Supervisors all accepted the deal. The closing of the deal is anticipated in late Q3 or very early Q4, based on authorization by Augmedix shareholders and the fulfillment of various other normal closing problems. Upon conclusion of the deal, Augmedix’s ordinary shares will certainly no more be openly provided, and Augmedix will certainly come to be an independently held business. The deal is anticipated to be moneyed from Commure’s cash money available and offered liquidity.

Advisors

Evercore is functioning as the unique monetary expert to Augmedix, and Morrison Foerster is functioning as lawful expert to Augmedix. Morgan Stanley & Co. LLC is functioning as monetary expert to Commure, and Kirkland & Ellis is functioning as lawful expert to Commure.

Regarding Augmedix

Augmedix equips medical professionals to get in touch with individuals by liberating them from management problem with the power of ambient AI, information, and count on. The system changes all-natural discussions right into arranged clinical notes, structured information, and point-of-care alerts that boost performance and scientific choice assistance. Integrating information from countless communications throughout all treatment setups, Augmedix works together with health centers and wellness systems to enhance scientific, functional, and monetary end results. Augmedix is headquartered in San Francisco, CA, with workplaces all over the world. To find out more, check out augmedix.com.

Regarding Commure

The management and technical problem dealing with the health care labor force today has more than time wore down the human side of health care—- dividing suppliers from the reason they entered into medication to begin with: seeing individuals and offering remarkable treatment. Commure’s goal is to once more make wellness the emphasis of health care by utilizing AI and automation to remove interruptions and maintain suppliers linked to their individuals throughout the treatment trip. The Commure collection of automated and AI-enabled equipment, software application, and solutions leads to better and much healthier individuals, much less time squandered on management jobs, more secure team, and a lot more dependable insurance policy repayments. Because combining with Athelas, Commure’s expanding collection of options currently consists of Person Involvement, Process Automation, Team Safety And Security, Home Person Keeping An Eye On, Payment Solutions, and Automated Dictation. Commure sustains greater than 250,000 medical professionals and team and numerous countless individuals throughout numerous treatment websites. Browse Through commure.com, athelas.com, or LinkedIn to read more.

Initially introduced July 19th, 2024