Augmedix to be acquired by Commure for $2.35 per share in cash

Augmedix announced that it has entered into a definitive agreement to be acquired by Commure, a leading provider of technology to healthcare systems, in an all-cash transaction that values Augmedix at approximately $139M in equity value. Under the terms of the agreement, Augmedix stockholders will receive $2.35 per share in cash upon completion of the proposed transaction, and Augmedix will become a wholly-owned subsidiary of Commure. The purchase price represents a premium of approximately 169% over the volume weighted average price of Augmedix’s common stock for the 30 days ending July 18, 2024. Augmedix’s Board of Directors unanimously approved the transaction. The closing of the transaction is expected in late Q3 or early Q4, subject to approval by Augmedix stockholders and the satisfaction of other customary closing conditions. Upon completion of the transaction, Augmedix’s common stock will no longer be publicly listed, and Augmedix will become a privately held company. The transaction is expected to be funded from Commure’s cash on hand and available liquidity.