Commure is buying the dip in Augmedix, and it isn’t leaving a single share behind.
The take-private transaction will see Commure acquire Augmedix for $139M, which means shareholders are set to receive $2.35 per share – a 150% premium above their last close.
- Not bad for an overnight return, but then again Augmedix was trading at nearly $6 back in January.
Commure provides a healthcare-focused operating system that connects patient care, clinical operations, and administrative functions into a single interface powered by AI.
- Since merging with Athelas late last year, Commure’s solution suite has grown to include everything from patient engagement and RPM to revenue cycle management and staff safety.
- Commure also recently announced its own Commure Scribe documentation solution, which it made available at no cost to providers and will continue to offer alongside Augmedix’s product portfolio.
Augmedix got its start as a tech-focused VC darling before leaning in on scribing, and it took an interesting path to its current position near the front of the ambient AI pack.
- October 2020: Augmedix hits the OTC market through a SPAC merger
- October 2021: Augmedix gets uplisted to the NASDAQ with a $40M public offering
- July 2024: Augmedix gets taken private once again by Commure
The acquisition makes Commure a newfound powerhouse in the healthcare AI arena, with a strong foothold in one of the hottest corners of the market.
- Not only does Augmedix advance Commure’s strategy of using LLMs to consolidate various point solutions into a unified platform, but it also brings along over 20 health system partners – including a marquee collaboration with HCA.
The Takeaway
The ambient AI consolidation has begun, and Commure just fast-tracked its way to a leadership position. Commure has its work cut out for it to prove that its operating system approach makes Augmedix more valuable than the market gave it credit for, but this could mark the start of a new wave of consolidation if it can pull it off.
