Dive Temporary:
- Well being knowledge firm Commure will purchase synthetic intelligence documentation agency Augmedix for about $139 million, the businesses stated Friday.
- Underneath the take-private deal, Augmedix shareholders will obtain $2.35 per share in money. The businesses anticipate the transaction to shut within the late third quarter or early fourth quarter this 12 months.
- The acquisition comes months after Commure stated it could merge with one other well being firm, Athelas, which additionally gives an AI scribe.
Dive Perception:
Utilizing AI to assist clinicians doc appointments with their sufferers is a well-liked use case for the burgeoning expertise. Suppliers have lengthy argued the hours spent on note-taking hampers affected person care and contributes to burnout.
Quite a few companies, together with Amazon, Microsoft-owned Nuance Communications and Oracle, have launched their very own AI scribes, saying their merchandise might assist alleviate suppliers’ heavy administrative duties.
Augmedix is one other competitor within the automated documentation house, working with greater than 20 main well being methods and lots of of care websites, in response to a weblog put up from Commure.
The corporate additionally has a partnership with HCA Healthcare, one of many largest hospital operators within the nation. The supplier is making ready for “huge deployment” of its scribe, Augmedix Go, throughout HCA’s emergency departments, Augmedix CEO Manny Krakaris stated on a first-quarter earnings name this spring.
Commure, which gives knowledge evaluation and income cycle administration merchandise in addition to an AI scribe, stated the acquisition will develop the variety of suppliers utilizing its expertise suite. It at present works with greater than 250,000 suppliers throughout the nation, the agency stated.
“As a part of Commure, we imagine Augmedix shall be well-positioned to scale ambient documentation options to much more clinicians and well being methods whereas concurrently accelerating efforts to infuse extra progressive options, integrations, and AI capabilities into our product suite,” Krakaris stated in an announcement.
Augmedix reported $13.5 million in income throughout the first quarter, a 40% enhance from the prior-year interval. However the documentation agency additionally posted a $6.5 million internet loss throughout the quarter and lowered its full-year income steerage.
