Mobile health and medical transport company DocGo announced Monday that it has entered into a definitive agreement to acquire virtual care provider Hicuity Health.
Hicuity Health provides high-acuity virtual clinic care for healthcare organizations, including tele-ICU, virtual nursing and telemetry monitoring services. It generated approximately $65 million in revenue on a trailing 12-month basis, according to a DocGo press release.
Perceptive Advisors has committed to provide up to an additional $50 million of financing to DocGo. The first $12.5 million will be funded upon the two companies entering into a services agreement pursuant to which DocGo will provide management-related services to Hicuity during the pre-closing period.
The acquisition follows DocGo's October 2025 acquisition of SteadyMD, which powers telehealth experiences for digital health companies, labs, pharmacies, employers and other healthcare companies.
The Hicuity Health acquisition was announced alongside the company’s second-quarter earnings.
DocGo brought in $73.4 million in Q2 2026 revenue, down from $80.4 million year-over-year. The company says the decline was “entirely due to” the wind-down of migrant-related programs, which “generated zero revenue in the second quarter of 2026 and $18.8 million in the second quarter of 2025.”
Excluding these programs, DocGo says Q2 revenue increased 19% year-over-year.
Moreover, DocGo says it achieved “record volumes across all major business lines” year-over-year. U.S. medical transportation volume increased 15%; in-home healthcare increased 26%; mobile phlebotomy increased 20%; cardiac and remote patient monitoring increased 13% and virtual care and lab orders increased 58%.
The company reported medical transportation services revenue in the second quarter of 2026 was $52 million, up about 5% from the second quarter of 2025. Mobile health services revenue for the second quarter of 2026 was $21.4 million, down 30% compared to $30.8 million during the same period a year ago due to the wind-down of migrant-related programs. Excluding revenue from migrant-related programs, mobile health services revenue increased 78% from $12 million in the second quarter of 2025, driven by organic growth and the inclusion of revenue from SteadyMD.
The company surpassed 1.7 million patients assigned by its payer and provider partners to engage in care gap closure services since inception, up 100,000 patients from last quarter. DocGo signed a new contract with one of the largest national health plans to offer care gap closure services to their members in Pennsylvania.
In Q2, the company also launched mobile phlebotomy services in Southern Florida, expanding its relationship with a major national clinical laboratory and positioning the company for mobile phlebotomy growth in the Southeast.
DocGo Chief Financial Officer Norm Rosenberg said in a statement the pending acquisition not only represents a “significant growth opportunity with numerous cost-synergies, but will also create a combined entity with much greater financial liquidity.”
“We are fortunate to add a healthcare lending partner of the caliber of Perceptive Advisors, which has committed to providing additional debt financing of up to $50 million, if needed,” Rosenberg said. “Our cost cutting initiatives progressed during the quarter, with more than $4 million dollars of estimated annual costs removed from SG&A during the period while also achieving record volumes across all key business verticals. We believe that the Company will achieve a positive adjusted EBITDA run rate as we exit the year and head into 2027.”
DocGo narrowed its forecast for full-year 2026 revenue to $305 million to $310 million, compared to the company’s prior guidance of $300 million to $315 million. The company's guidance does not include any contribution from the acquisition of Hicuity Health.
The company forecasted full-year 2026 adjusted EBITDA in the range of a loss of $17 million to $22 million, compared to the company’s prior guidance of a loss of $5 million to $10 million. DocGo still expects to exit the year at a profitable run rate.