Remote medical documentation and live clinical support services provider Augmedix has closed a $25 million private placement financing and completed a reverse merger with Malo Holdings Corp.
“We’re thrilled to complete this financing, which we believe puts Augmedix on the path of accelerated expansion, and will enable us to broaden our operational capabilities, accelerate our technology research and product development, and strengthen our marketing and sales,” said the company’s Chief Executive Officer, Manny Krakaris. “The success of this financing demonstrates confidence in the Augmedix team, technology, and products, by both our current partners as well as our new investors.”
Following the reverse merger transaction with Malo Holdings Corp., an SEC-reporting public Delaware corporation, the merged entity will be named Augmedix, Inc., and will continue Augmedix’s historic and innovative business.
“Because the Augmedix service is accessed through mobile devices and is telemedicine application-agnostic, our innovative technology allows clinicians access to medical note documentation, regardless of their location,” Krakaris said.
In connection with the financing, current investors McKesson Ventures, Redmile Group, and DCM invested alongside new investors.
Augmedix converts natural clinician-patient conversation into medical documentation and provides live support, including referrals, orders, and reminders, so clinicians can focus on patient care. The company’s platform is powered by a combination of proprietary automation modules and human-expert assistants operating in HIPAA-secure locations to generate accurate, comprehensive, and timely-delivered medical documentation.
Read the original press release here.