NEW YORK: DocGo Inc. (Nasdaq: DCGO), a leading provider of technology-enabled mobile health and medical transportation services, has acquired virtual care platform SteadyMD, Inc.
SteadyMD powers high-quality telehealth experiences for digital health companies, labs, pharmacies, employers, and other healthcare innovators. The company offers a 50-state virtual clinician workforce, clinical operations, and world-class technology that powers real-time matching between patient needs and clinical expertise.
SteadyMD provides virtual care for top consumer, healthcare and digital wellness brands, including multiple Fortune 10 customers. SteadyMD is expected to service over 3 million patients in 2025, and maintains a roster of over 600 clinicians. SteadyMD’s scaled network of virtual providers will enable DocGo to achieve more efficient delivery of patient care by pairing its mobile health clinicians in the field with SteadyMD’s clinical network.
In 2025, SteadyMD is expected to generate approximately $25 million in revenue and is expected to be EBITDA positive for 2026.
The Company plans to update 2025 revenue and adjusted EBITDA guidance to reflect the transaction as part of its upcoming earnings release and call, which is expected to be held in early November. Guy Friedman, CEO and Co-Founder of SteadyMD, and Yarone Goren, COO and Co-Founder of SteadyMD, are joining the DocGo leadership team upon the close of the transaction.
Lee Bienstock, CEO of DocGo commented, “This acquisition marks an exciting milestone in DocGo’s mission to make high-quality, technology-powered healthcare more accessible. SteadyMD has an impressive reputation and has built a proprietary platform that optimizes the delivery of trusted, scalable virtual care services across all 50 states.
By combining SteadyMD’s nationwide virtual care platform with our mobile health services and infrastructure, we can provide our enviable roster of customers with an even more comprehensive platform of last mile care, and help realize our goal of providing patients with healthcare at any address. DocGo will continue to seek additional opportunities for acquisitions and partnerships that expand our capabilities and scale while enhancing shareholder value.”
Guy Friedman, CEO and Co-Founder of SteadyMD also commented, “Joining forces with DocGo provides us with the resources to extend our vision of providing a more personalized, patient-centered approach to virtual care at an even larger scale. We are excited to work together to improve access, outcomes and convenience for millions of patients.”
The company expects to fund the transaction through existing cash on its balance sheet. TD Securities (USA) LLC served as exclusive financial advisor to DocGo, Polsinelli served as legal advisor for DocGo, and Alvarez & Marsal Transaction Advisory Group, Life Sciences, and Global Transaction Tax provided additional due diligence and strategic consulting services. Goodwin Procter LLP served as legal advisor for SteadyMD.