DocGo Signs Deal to Acquire Virtual Care Provider Hicuity Health, Secures New Debt Financing; Cuts FY26 EBITDA Guidance

DocGo has launched mobile phlebotomy services in Southern Florida through its PTI Health subsidiary, partnering with a major national clinical laboratory to serve medical practices across the region. The expansion leverages the company's low capital investment model, requiring minimal infrastructure without dedicated vehicle fleets. The service targets Florida's large population of older adults and retirees, offering convenient at-home blood collection and testing. PTI Health will use existing lab partner platform integrations to deliver the service. General Manager Wayne Meadows said the new market is expected to operate at the same margin profile as PTI Health's established markets. Chief Executive Lee Bienstock noted PTI Health's performance continues to exceed expectations as part of DocGo's healthcare delivery platform.

DocGo has raised concerns among analysts following its first-quarter results, with shares falling 5.5% to $0.59 in the past week. Whilst revenues of $76 million beat expectations by 4.3%, statutory losses per share of $0.15 were 22% higher than analysts had forecast. Following the results, five analysts now expect 2026 revenues of $306.3 million, broadly in line with the last 12 months. Losses are forecast to fall 82% to $0.34 per share. Despite upgrading revenue estimates, analysts reduced their average price target by 11% to $1.87, reflecting concerns over higher forecast losses. Analysts expect DocGo's revenue growth to slow substantially to 2.0% annually through 2026, down from an 11% historical growth rate and below the 4.7% industry average.