An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
DocGo Announces $90 Million Line of Credit with Citibank, N.A.
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
DocGo (NASDAQ: DCGO) has secured a $90 million secured line of credit (LOC) from Citibank, N.A. The LOC, which includes a $50 million accordion option, has a five-year term. CFO Andre Oberholzer indicates that the funds will support opportunistic M&A and working capital as the company seeks to expand its mobile health services. DocGo aims to leverage its strong balance sheet and positive cash flow for growth opportunities in new territories, enhancing its position in last-mile mobile healthcare.
Positive
Secured a $90 million line of credit, enhancing financial flexibility.
Includes a $50 million accordion option for additional financing.
Funds will support opportunistic M&A, potentially strengthening market position.
Strong balance sheet and positive cash flow support growth initiatives.
Negative
None.
Available funds to be used for opportunistic M&A and working capital as needed
NEW YORK--(BUSINESS WIRE)--
DocGo (Nasdaq: DCGO), a leading provider of last-mile mobile health services, today announced that it has entered into a $90 million secured line of credit (LOC) with Citibank, N.A. as the Administrative Agent. The LOC, which also includes a $50 million accordion option, carries a five-year term.
Andre Oberholzer, chief financial officer of DocGo, commented, “We are seeing many compelling opportunities in the market to further expand our mobile health solution or enter into new territories. We have a very strong balance sheet and positive cash flow to fund our operations. The additional funds available to us through this Line of Credit will be used to support opportunistic M&A that strengthens and enhances our leadership position as the provider of choice for ‘last mile’ mobile health services.”
About DocGo DocGo is a leading provider of last-mile mobile care services. DocGo is disrupting the traditional four-wall healthcare system by providing high quality, highly affordable care to patients where and when they need it. DocGo's innovative technology and dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks, and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com.
