Commure to Acquire Augmedix for $139 Million in an All-Cash Deal

Medical documentation services provider Augmedix Inc. (AUGX) entered a definitive merger agreement on July 19, 2024, with Commure, Inc. for a deal value of $139 million.

Terms of the Agreement:

Under the terms of the agreement, Augmedix stockholders will receive $2.35 per share in cash, representing a premium of 156.44% from the stock’s last close.

Company Profile:

Augmedix is a provider of AI-powered remote medical documentation and clinical support services, enhancing clinician efficiency and decision-making through automated, real-time, and on-demand solutions accessible on mobile devices.

Commure is a healthcare technology company that uses AI and automation to reduce administrative burdens, enhance patient care, and support clinicians through a suite of solutions including patient engagement, workflow automation, staff safety, at-home monitoring, billing, and automated dictation.

Deal Details and Timeline:

The deal, which is expected to close in the late third quarter or early fourth quarter of 2024, will make Augmedix a wholly-owned subsidiary of Commure.

Augmedix’s current Price/Sales (TTM) ratio is 0.90, below the sector median of 3.77.

Through this merger Augmedix and Commure will combine their strengths in AI solutions to make healthcare more efficient, and expand their tools to more doctors and hospitals, using their combined strengths to improve patient care and grow the business.

Deal Metrics:

For a more comprehensive understanding of this merger and acquisition activity, please refer to the Deal Metrics page here:

Deal Metrics for the acquisition of Augmedix Inc. (AUGX) by Commure, Inc.

The Deal Metrics page for each merger or acquisition includes:

• A chronicle of the merger spread from announcement to completion or failure.
• A timeline of events as the merger progresses, including regulatory approvals, shareholder votes, etc.
• Updates on news and SEC filings.
• A record of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article