Augmedix delivers AI-powered ambient medical documentation and data solutions that convert natural clinician–patient conversations into medical notes clinicians can review, finalize, and transfer in real time to the electronic health record. Its technology targets both ambulatory care and, through a new collaboration, the acute care setting. The company plans to work with HCA Healthcare to advance AI-powered ambient documentation products for acute care clinicians and to accelerate development of products such as Augmedix Go. Augmedix raised approximately $12 million in new equity from HCA Healthcare and Redmile Group via a combination of new common shares and pre-funded warrants priced at $1.60 per share. The financing also included issuance of conditional “break even” warrants tied to specific future financing events. Management says the new capital, together with existing cash and availability under an existing debt facility, should enable the company to reach cash flow sustainability and avoid additional equity raises, with breakeven expected as it exits 2024. The company and Redmile have also agreed to finalize within 30 days an equity line option of up to $5 million at $1.60 per share that could be accessed 12–18 months after finalization, although management does not anticipate using it. Augmedix provides remote medical documentation and live clinical support, converting natural clinician–patient conversation into medical documentation using proprietary automation modules and human-expert assistants operating in HIPAA-secure locations. Its platform supports over 35 specialties and is used by more than one dozen American health systems and hundreds of independent clinicians across medical offices, clinics, hospitals and telemedicine. The company estimates its solution saves clinicians 2–3 hours per day, can increase productivity by as much as 20%, and improves clinicians' satisfaction with work-life balance by over 40%. Augmedix completed a fourth quarter 2020 capital raise and achieved an OTCQX listing, and management cites strong financial performance. In March 2021 the company refinanced its long-term debt to enhance the balance sheet and significantly extend operating runway. Proceeds from the refinancing were used to pay down existing long-term debt and for working capital and general corporate purposes. Augmedix offers a platform that converts natural clinician–patient conversation into medical documentation and delivers live clinical support such as referrals, orders, and reminders. Its platform combines proprietary automation modules with human-expert assistants operating in HIPAA-secure locations to produce accurate, comprehensive, and timely documentation. Augmedix says its services are compatible with over 35 specialties and are trusted by more than one dozen U.S. health systems across telemedicine, clinics, and hospitals. The company estimates its solution saves clinicians 2–3 hours per day, can increase productivity by as much as 20%, and improve certain clinicians' work‑life balance by 49%. Management said the COVID‑19 pandemic has accelerated telemedicine adoption and highlighted Augmedix’s competitive advantages. The company plans to broaden operational capabilities, accelerate technology research and product development, and strengthen marketing and sales following the financing. Augmedix provides real‑time medical documentation by turning natural clinician–patient conversation into notes via a platform powered by proprietary natural‑language‑processing technology and medical documentation expert teams. The company supplies clinicians with hardware (Smartphones or Google Glass) to securely stream visits to its cloud‑based platform, where tech‑enabled remote specialists and proprietary automation modules generate comprehensive documentation. Its service covers more than 25 specialties and supports most EHRs. Fifteen national health systems, including Sutter Health, CommonSpirit Health, and US Oncology, representing over 10% of clinicians in the U.S., have partnered with Augmedix. The company is led by CEO Manny Krakaris. It raised an additional $19M in Series B financing to accelerate product development, including automation capabilities, and to scale its technology‑enabled service across health systems and private clinics nationwide. Augmedix offers a Google Glass-powered remote scribe service that lets physicians retrieve patient history and document visits without interacting with a computer; chart notes are created in real time by remote scribes in secure HIPAA-compliant facilities. The service enables physicians to review notes and provide patients with visit summaries and care instructions. Augmedix complements its core offering with enterprise support services including staffing, quality assurance, network and technical support, analytics and business process improvement. The company has received more than $60 million in venture funding since founding. It intends to use the new funds to further scale its service nationwide and build out its platform with new tools and services.

Total raised

$134M

Funding rounds

9

Latest round

Equity

Latest activity

Apr 2023