![]() (Nasdaq: AUGX) provides automated medical documentation and data services to large healthcare systems and physician practices, supporting medical offices, clinics, hospitals, emergency departments, and telemedicine nationwide. Eastward Capital Partners is based in West Newton, Massachusetts.Īugmedix, Inc. Since its inception, Eastward has provided financing solutions to more than 220 companies across industries including Software, Communications, Healthcare Technology, Business Services and New Media. Eastward is excited to partner with Augmedix on its mission to rehumanize the clinician-patient relationship.”Īdditional details regarding the Company’s new term loan agreement are set forth in its Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 30, 2021.įounded in 1994, Eastward Capital Partners is a provider of private debt financing to technology enabled companies. “We were attracted by Augmedix’s large addressable market and great execution. “Eastward Capital Partners is pleased to support Augmedix’s differentiated offering, growth plans, and strong management team,” said Tim O’Loughlin, Investment Partner at Eastward Capital Partners. It has been great to team up with Eastward Capital Partners.” The refinancing provides us with greater flexibility to support the execution of our growth strategy. “Our recent fourth quarter 2020 capital raise, and OTCQX listing, combined with our strong financial performance, speak to a bright future for our company and our clinician partners. “We are happy to announce the refinancing, which enhances our balance sheet and significantly extends our operating runway,” said Paul Ginocchio, Chief Financial Officer of Augmedix. A portion of the proceeds from the term loan were used to pay down $13.0 million of the Company’s existing long-term debt and associated fees as of December 31, 2020, with the remaining being used for working capital and general corporate purposes. The new loan facility consists of a $15 million secured term loan and $2 million available in 4Q21 upon the achievement of certain financial objectives. (“Augmedix”), a leading provider of remote medical documentation and live clinical support, announced that it has refinanced its long-term debt obligations through a secured term loan with Eastward Capital Partners. SAN FRANCISCO, Ma(GLOBE NEWSWIRE) - Augmedix, Inc.
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