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Telehealth and medical transportation company DocGo announced that it has acquired telehealth provider SteadyMD.
Guy Friedman, CEO and cofounder of SteadyMD, and Yarone Goren, COO and cofounder of SteadyMD, will join the DocGo leadership team upon the close of the transaction.
SteadyMD provides virtual care for consumers and healthcare and digital wellness brands to all 50 states.
DocGo's technology and clinicians deliver population health programs for governments, value-based arrangements for payers, medical transportation for hospitals and mobile healthcare offerings aimed at keeping patients at home and out of the hospital.
SteadyMD’s scaled network of virtual providers will allow DocGo to attain more effective delivery of patient care by combining its mobile health clinicians in the field with SteadyMD’s clinical network.
"By combining SteadyMD's nationwide virtual care platform with our mobile health services and infrastructure, we can provide our enviable roster of customers with an even more comprehensive platform of last mile care and help realize our goal of providing patients with healthcare at any address," Lee Bienstock, CEO of DocGo, said in a statement.
"DocGo will continue to seek additional opportunities for acquisitions and partnerships that expand our capabilities and scale while enhancing shareholder value."
SteadyMD's Friedman pointed out that joining forces with DocGo provides the company with the resources to extend its vision of providing a more personalized, patient-centered approach to virtual care at a bigger scale.
"We are excited to work together to improve access, outcomes and convenience for millions of patients," Friedman said in a statement.
THE LARGER TREND
According to Investing.com, DoGo's stock surged 34.6% in after-hours trading on Oct. 20, following the company’s acquisition of SteadyMD. The company's stock is currently trading at around $1.55 per share.
Building on the previous developments, in 2024, DocGo reported a data breach in an SEC filing.
The company stated it identified a cybersecurity incident in which consumers' protected health information was accessed and acquired regarding the company's U.S. ambulance transportation business.
The company said it took steps to contain and respond to the incident and no other business lines were involved.
In 2023, DocGo partnered with EmblemHealth to provide patients with in-home services, including transitional care management, following discharge from the hospital.
Emblem and DocGo worked closely to offer New York- and Connecticut-based patients access to A1C screenings, colorectal cancer screenings, bone density tests, diabetic retinal eye exams and blood pressure control support through a value-based model.
That same year, AmerisourceBergen announced a strategic partnership with SteadyMD, beginning with the companies co-creating and piloting a telehealth offering for independent community pharmacies dubbed Test to Treat.
The Test to Treat model allowed individuals to be tested for an illness or condition at an independent pharmacy and then consult with a SteadyMD physician, if needed, to receive a prescription for treatment.
SteadyMD announced the expansion of Amazon Clinic's virtual marketplace to all 50 U.S. states. According to the company, SteadyMD was one of the first telehealth providers available via Amazon Clinic when it launched in 2022.
In 2022, SteadyMD acquired BlocHealth, a clinician licensing and credentialing platform.
Under the deal, BlocHealth continues to operate under its own name. The company offers services including license registration across states, payer enrollment, license renewal and consulting services for SteadyMD's in-house providers as well as clinicians working for partner organizations.
