Welcome to our dedicated page for DocGo news (Ticker: DCGO), a resource for investors and traders seeking the latest updates and insights on DocGo stock.
DocGo Inc. (DCGO) is a prominent provider of mobile medical services and transportation across 26 US states and the United Kingdom. The company specializes in delivering last-mile mobile health services and integrated medical mobility solutions, ensuring quality healthcare access wherever it's needed. DocGo operates through three primary segments: Mobile Health Services, Transportation Services, and Corporate, with Mobile Health Services being the most significant revenue contributor.
DocGo's Mobile Health Services segment encompasses a wide range of medical offerings, including on-site health assessments, remote patient monitoring, and urgent care. These services aim to bridge the gap between traditional healthcare facilities and patients, providing timely and efficient care right at the patient's location.
The Transportation Services segment focuses on non-emergency medical transportation, ensuring patients can safely travel to and from healthcare appointments. This segment is essential for maintaining consistent patient care, particularly for individuals with mobility challenges or those requiring specialized transport vehicles.
DocGo's Corporate segment manages administrative functions and strategic initiatives, supporting the operational efficiency and growth of the company's primary services. Recent achievements for DocGo include expanding its service areas, integrating advanced technology in patient care, and forming strategic partnerships with notable healthcare providers to enhance service delivery and patient outcomes.
Financially, DocGo has demonstrated steady growth, bolstered by its diversified service offerings and commitment to innovation in healthcare delivery. The company's focus on expanding its footprint and leveraging technology positions it to continue thriving in the dynamic healthcare sector.
DocGo (Nasdaq: DCGO) reported Q3 2022 revenue of $104.3 million, a 22% increase year-over-year. Net income surged 213% to $2.5 million. Adjusted EBITDA rose 110% to $8.4 million. The company revised its full-year revenue guidance to $430-$440 million, up from $425-$435 million, citing organic growth and M&A activities. CEO Stan Vashovsky will retire on December 31, with President Anthony Capone succeeding him. The mobile health revenue increased by 12.9% while transportation services revenue surged 55%.
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.
DocGo, a leader in mobile health services, has launched a new application in the App Blossom Gallery, enhancing integration with Epic EHR systems. This application allows users to request and track on-demand medical services, improving efficiency and accuracy by integrating with electronic medical records. It replaces a previous integration and is available to hospitals contracted with DocGo. According to Hawk Newton, CTO of DocGo, this development represents a significant advance in healthcare technology, ultimately improving patient access to care.
DocGo (NASDAQ: DCGO) is set to announce its third-quarter results for the period ending September 30, 2022, on November 7, 2022, after the market closes. A conference call for analysts and investors will follow at 5:00 PM ET on the same day. DocGo specializes in last-mile mobile health services, aiming to provide affordable and high-quality care directly to patients, enhancing telehealth capabilities through innovative technology. For further details, visit their investor relations website.
DocGo (NASDAQ: DCGO) expands its On-Demand urgent care services, now covering most of New York City, Westchester, and Nassau Counties, along with parts of New Jersey. This service allows users to book same-day house calls and telehealth consultations, offering high-quality, affordable healthcare directly to patients. A notable 20% of patients were repeat customers in September, highlighting the service's popularity. The launch of the DocGo On-Demand iOS app facilitates easy access to urgent care, signaling a shift in how healthcare is delivered.
DocGo (NASDAQ: DCGO), a mobile health services provider, announced its participation in LD Micro's The Main Event investor conference on October 25 at 11:00 AM ET. The event will feature Vice President of Investor Relations, Michael Cole, who will discuss the company's innovative approach to healthcare delivery. DocGo aims to enhance patient care through last-mile mobile services and telehealth solutions, bridging the gap between physical and virtual care. The presentation will be available via webcast on DocGo's investor relations website.
DocGo (NASDAQ: DCGO) is enhancing its partnership with Gary and Mary West PACE by launching a remote patient monitoring (RPM) program aimed at improving care for PACE participants. This innovative approach combines RPM with telehealth consultations and urgent care services, enabling proactive in-home care that reduces hospital visits and overall healthcare costs. The pilot program, running through 2022, aims to monitor patients more effectively and improve chronic disease outcomes. DocGo emphasizes its capability to provide real-time interventions via its advanced mobile health solutions, which are designed to integrate seamlessly into existing healthcare systems.
DocGo (NASDAQ: DCGO) announced that its mobile health services are now available to Cigna commercial customers in New York and New Jersey, effective October 1, 2022. This agreement aims to enhance accessibility to healthcare by providing timely and cost-effective treatments outside traditional facilities. DocGo offers various at-home services, including wellness exams, vaccines, and diagnostic tests, ensuring a patient-centric approach. The company strives to bridge gaps in healthcare access, promoting personalized and convenient care.
DocGo, a prominent mobile health services provider (NASDAQ: DCGO), has expanded its services in the UK through its subsidiary, Ambulnz Community Partners. The company announced the acquisition of three new contracts that will enhance its operations in Greater Manchester, Lancashire, and Merseyside, focusing on urgent and planned care ambulance transportation.
These contracts are set for a minimum duration of three years and aim to improve patient flow in local hospitals. The expansion reflects DocGo's commitment to accessible healthcare for UK communities.
DocGo (NASDAQ: DCGO), a leader in last-mile mobile health services, announced the participation of President Anthony Capone in two significant investment conferences this September. Capone will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 13 at 1:30 PM ET and engage in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference on September 14 at 3:30 PM ET. Both events will be available via webcast on DocGo's investor relations webpage.
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