Augmedix (NASDAQ: AUGX), a healthcare technology company that delivers ambient medical documentation and data solutions to healthcare systems, physician practices, hospitals, and telemedicine practitioners, has executed a strategic financing agreement. The agreement, which will raise $12 million in new equity, is with HCA Healthcare Inc. (NYSE: HCA), one of the nation’s leading healthcare providers, and Redmile Group LLC, a San Francisco-based institutional healthcare investor. According to the announcement, the new funds will allow Augmedix to achieve positive cash flow without additional financing. In addition to the financing agreement, Augmedix and HCA have announced a partnership; the two companies will work together to advance the development of AI-powered ambient documentation products for acute care clinicians, a process that will help streamline hospital workflows, improve the ease of documentation and provide healthcare providers with more time to spend with patients. The products are designed to instantly convert typical clinician-patient conversations into medical notes for easy review; those notes can be seamlessly transferred in real time to the Electronic Health Record (EHR). “HCA Healthcare is a leader in deploying healthcare technology to improve patient outcomes and support physicians and nurses, and as such, they represent an ideal partner for Augmedix to deliver our innovative products to the industry at scale,” said Augmedix CEO Manny Krakaris in the press release. “As we continue to enhance our product offerings to best satisfy the needs of patients, nurses and physicians, we look forward to helping HCA Healthcare transform clinical documentation in the acute-care setting.”
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About Augmedix Inc.
Augmedix delivers industry-leading, ambient medical documentation and data solutions to healthcare systems, physician practices, hospitals and telemedicine practitioners. Augmedix is on a mission to help clinicians and patients form a human connection at the point of care with seamless technology. Augmedix’s proprietary Notebuilder Platform extracts relevant data from natural clinician-patient conversations and converts that data into medical notes in real time, which are seamlessly transferred to the EHR. The company’s platform uses Automatic Speech Recognition, Natural Language Processing including Large Language Models, and medical documentation specialists to generate accurate and timely medical notes. Leveraging this platform, Augmedix’s products relieve clinicians of administrative burden, in turn, reducing burnout and increasing both clinician and patient satisfaction. Augmedix is also leading the revolution in leveraging point-of-care data by making connections between millions of clinician-patient interactions and analyzing them to deliver actionable insights that elevate patient care.
For more information about the company, please visit www.Augmedix.com.
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