Augmedix, a US-based automation healthcare technology developer backed by medical product distributor McKesson, has completed a $25m private placement, and a reverse merger with public Delaware corporation Malo Holdings.
The capital was provided by existing investors McKesson Ventures, the corporate venturing arm of McKesson, and venture capital firms Redmile Group and DCM, along with undisclosed new investors.
Founded in 2012, Augmedix has created software that converts conversations on medical matters between patients and doctors into documentation. It has now raised approximately $107m altogether.
The company secured $19m in a October 2019 series B round that included investments from McKesson Ventures, Redmile Group, DCM Ventures and Wanxiang Healthcare Investments, a subsidiary of automotive components producer Wanxiang.
Augmedix had previously received $23m in December 2016 from investors including McKesson Ventures, OrbiMed, Redmile Group, Emergence Capital and DCM Ventures.
Redmile led a $17m round for the company eight months earlier, participating with existing investors Emergence Capital and DCM Ventures as well as healthcare providers including Sutter Health, Dignity Health, Catholic Health Initiatives and TriHealth.
