Augmedix raises $17 million investment
April 25, 2016 – SAN FRANCISCO. Augmedix, Inc., today announced that it has closed a $17 million strategic round of funding that includes investments from five leading healthcare systems from across the U.S, including: Sutter Health, Dignity Health, Catholic Health Initiatives (CHI), TriHealth Inc. and one more. Together, these organizations have over 100,000 healthcare providers who treat millions of patients nationwide.
Today’s strategic round will enable Augmedix and its investors to scale the Google Glass-powered service across health systems and private clinics nationwide. The service frees doctors from hours of mandated charting and documentation so they can get back to the work they love: taking care of patients.
Redmile Group led the strategic round, with participation from the founding institutional investors Emergence Capital and DCM Ventures. Augmedix has received $40 million in venture funding to date.
“We take our mission to transform healthcare very seriously, and are proud to align our goals and service with some of the most innovative healthcare systems in the country who share our passion,” said Ian Shakil, CEO of Augmedix. “We believe that delivering quality, personalized patient care shouldn’t be at odds with maintaining state-of-the-art electronic health records (EHR) — both are important. With our wearable solution, healthcare organizations have the technology tools necessary to drive EHR efficiencies, enhance services and improve patient care, all at the same time.”
“I have spent nearly a decade evaluating and investing in leading health IT companies,” said Kevin Spain, general partner at Emergence Capital. “There are few technology solutions in healthcare that deliver both the level of customer delight and meaningful ROI that Augmedix provides. Today’s announcement is further validation that Augmedix has created a groundbreaking solution to one of the biggest challenges in healthcare today.”
Augmedix adoption benefits doctors and patients alike:Enhances Doctor-Patient Interaction - Increases patient satisfaction, reduces inefficiencies and keeps focus on patient needs — not technology Improves EHR Quality - Delivers better, more accurate documentation and rigorous quality assurance Saves Doctors Time - Reduces charting time by three hours per day, enables doctors to see additional patients and/or reclaim saved time
“At Dignity Health, we are committed to developing partnerships that harness the great potential of technology and apply it in ways that help patients and providers make better day-to-day decisions about care,” said Dr. Davin Lundquist, chief medical information officer, Dignity Health. “The use of Google Glass and Augmedix allows our doctors to spend more time with patients by eliminating the distraction of entering information into a patient’s electronic medical record on the computer. This enables our healthcare providers to give more focused attention to our patients and results in a better patient experience.”
“As we strive to create the high-quality, high-value healthcare experience our patients expect from Sutter Health, new technology tools and services allow us to innovate in ways that deliver a more efficient, affordable and personalized level of care,” said Dr. Albert Chan, Sutter Health’s vice president, chief of digital patient experience. “Wearable technology holds tremendous promise, especially for enhancing the office visit experience. We are committed to partnering with our patients, and value how our growing network of digital health innovators helps strengthen those patient-doctor relationships in new ways.”
Augmedix now serves hundreds of primary care doctors, specialists and surgeons in nearly all 50 states who together see approximately 5000 patients a day. The company has grown to nearly 400 employees in offices worldwide.
“Today’s investment by this unprecedented number of leading healthcare systems signals strong confidence in Augmedix and its disruptive mission to rehumanize the doctor-patient relationship,” said Peter Moran, general partner of DCM Ventures.
SOURCE Augmedix, Inc.