Augmedix will now operate as a wholly-owned subsidiary of Commure, according to an Oct. 2 news release.
“I started Augmedix to relieve clinicians from administrative burdens that take them away from what matters most: patient care,” Augmedix founder Ian Shakil said in the release. “Joining forces with Commure allows us to scale that impact significantly.”
Both companies have deep relationships with health systems. Augmedix provides clinical documentation software to Nashville, Tenn.-based HCA Healthcare, the nation’s largest health system, which is also a partner of Commure’s. An HCA digital executive sits on the board of Commure, which was spawned from a collaboration between Philadelphia-based Jefferson Health and venture capital firm General Catalyst.
Commure first announced the deal to acquire Augmedix for $139 million in July. With the completion of the deal, Augmedix shareholders will receive $2.35 in cash for each share of common stock they owned immediately prior to the closing, according to the release. Augmedix’s stock has also ceased trading and will be delisted from the Nasdaq Stock Market.
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