Augmedix up after raising $12 mln from HCA and Redmile Group

Augmedix

20/04/2023 13:04

** Shares of digital health platform Augmedix Inc  AUGX.O 
rise ~21% to $2.2 before the bell 
    ** 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 raises $12 mln of equity at
$1.60 apiece by issuing a combination of new common shares and
pre-funded warrants
    ** The fund raising 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 15%, as of last close 

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