Acquisition Creates Large AI Software Provider
by Tanay Tandon, CEO, Commure
Today I’m excited to share that Commure is signing to acquire Augmedix (NASDAQ: AUGX) and take the company private. Combined, we believe we’re creating one of the largest, most comprehensive, and fastest-growing artificial intelligence software suites in healthcare.
AI Scribing
Augmedix is a pioneer in the space of Ambient AI-powered medical scribing, with technology and personnel serving over 20 major health systems and hundreds of sites of care. Together, we believe we can dramatically boost the productivity of every physician in America using language models that transcribe appointments, autonomously code them, and supercharge back-office operations for billing teams.
The companies together are on track to power over 3 million physician appointments using artificial intelligence, ambient scribing, and revenue cycle automation this year. Commure Scribe, and Augmedix Go on average save a physician 2 hours of documentation time a day, reducing documentation time by more than 80%, and help generate billions of dollars in productivity savings for providers across the country.
(Left to Right): Tanay Tandon, Ian Shakil, Hemant Taneja, and Manny Krakaris
Powerful Combination
Augmedix and Commure both partner closely with the country’s premiere hospital systems. Augmedix’s progress in deploying LLM-powered technology within those systems has been genuinely amazing.
Commure today processes billions of dollars worth of healthcare payments, and has the fastest growing Ambient AI scribe + documentation tool deployed within hundreds of health systems and private practices. Our technology suite helps power over 250,000 providers nationally. And with the Augmedix acquisition that number will grow even further.
As I’ve gotten to know Ian and Manny – founder and CEO respectively at Augmedix – it’s become clear they share a common passion with Commure for deploying artificial intelligence to supercharge provider operations and boost the productivity of the US economy.
In line with the health assurance vision, we believe this combination further unlocks an ecosystem of companies that can collaborate to transform healthcare. In partnership with Augmedix, Commure is poised to become the single, AI-powered interface for providers, accelerating innovation and our shared goal of creating a more proactive, accessible, and affordable system of care.
In the coming months, we hope to announce much more about how the combined company’s product suites will help transform provider operations at all the systems we partner with.
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About Commure
Commure, Inc. is connecting disparate datasets, surfacing meaningful insights, accelerating performance through a suite of intuitive applications, and enabling seamless innovation across the healthcare industry. Commure’s mission is to empower every person in the health ecosystem to deliver exceptional care. Commure’s original applications include solutions to improve staff safety, enhance clinical workflow, and bolster revenue operations. Currently, the company enables more than 160,000 clinicians and staff across more than 500 care facilities to advance care through collaboration. With Athelas in the portfolio, Commure will add thousands of clinicians and over 100,000 patients to its national network. Combined, Commure and Athelas is backed by General Catalyst, Sequoia, Lux, Human Capital, 8VC, Greenoaks Capital and Elad Gil. Learn more at commure.com.
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