DocGo to Acquire Hicuity Health for Stock and Debt Assumption, Secures $50M Financing

summarizeSummary

DocGo is acquiring Hicuity Health for stock and debt assumption, securing up to $50M in new financing. The deal adds virtual care capabilities but increases leverage amid ongoing losses and Nasdaq compliance issues.

check_boxKey Events · M&A and Partnerships · DCGO

• Definitive Merger Agreement Signed

  DocGo will acquire Hicuity Health via merger, with consideration of 2.0% of DocGo's fully diluted shares at closing plus an earnout of 3.5% tied to achieving a $250 million market cap within three years.

• Debt Assumption and New Financing

  DocGo assumes approximately $52 million of Hicuity's existing debt maturing December 2029, and Perceptive Advisors committed up to $50 million in new senior secured term loans.

• Q2 2026 Financial Results

  Revenue was $73.4 million, down from $80.4 million a year ago, with net loss of $18.0 million and adjusted EBITDA of -$6.3 million.

• Lowered Full-Year Guidance

  2026 revenue guidance narrowed to $305-$310 million, and adjusted EBITDA guidance lowered to -$17 million to -$22 million, from prior -$5 million to -$10 million.

auto_awesomeAnalysis · DCGO · Industrial Applications And Services

DocGo signed a definitive agreement to acquire Hicuity Health, a virtual care provider, in a stock-and-debt deal. The merger consideration is 2.0% of DocGo's outstanding shares at closing plus an earnout of 3.5% tied to a $250 million market cap threshold. DocGo also assumes approximately $52 million of Hicuity's existing debt and has a commitment for up to $50 million in new term loans from Perceptive Advisors. The acquisition expands DocGo's telehealth capabilities but adds significant leverage at a time when the company is already facing Nasdaq delisting concerns and liquidity pressures. Q2 results showed continued losses, with adjusted EBITDA of -$6.3 million, and full-year guidance was lowered.