Augmedix jumps after raising $12 mln from HCA Healthcare, Redmile Group

Augmedix

20/04/2023 15:30

(Updates)
    ** Shares of digital health platform Augmedix Inc  AUGX.O 
jump 66.70%, hitting over 1-year high at ~$3
    ** Co says it executed a strategic partnership with hospital
operator HCA Healthcare Inc  HCA.N  and institutional healthcare
investor Redmile Group LLC to secure strategic financing 
    ** With the financing, AUGX raised $12 mln of equity at
$1.60 apiece by issuing a combination of new common shares and
pre-funded warrants
    ** The fundraising will allow AUGX to achieve positive cash
flow without additional financing
    ** AUGX also partners with HCA to accelerate development of
AI-powered patient care documentation products for acute care
clinicians 
    ** YTD, AUGX stock up over ~92%, including session's gain 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))