DocGo acquires SteadyMD to build ‘healthcare at any address’ platform
DocGo has acquired virtual care provider SteadyMD in a deal aimed at combining nationwide telehealth capabilities with DocGo’s technology-enabled mobile health and medical transportation services.
The Nasdaq-listed company said the acquisition will enable it to offer a more comprehensive “last mile” care platform by pairing its in-the-field mobile clinicians with SteadyMD’s 50-state virtual workforce and infrastructure. Management plans to discuss the transaction on a conference call and webcast on Tuesday, 21 October at 11:00 a.m. ET.
SteadyMD delivers virtual care services for digital health companies, labs, pharmacies, employers and other healthcare organisations. Its platform powers telehealth for top consumer and healthcare brands, including multiple Fortune 10 customers, and is expected to service more than three million patients in 2025. The company maintains a roster of over 600 clinicians across all 50 US states, supported by technology that matches patient needs with clinician expertise in real time.
DocGo says integrating this network with its mobile health services will support more efficient, coordinated care delivery – for example, by combining in-home or on-site visits with virtual consultations, follow-ups and ongoing monitoring.
In 2025, SteadyMD is expected to generate around $25m in revenue and is forecast to be EBITDA positive in 2026. DocGo plans to update its 2025 revenue and adjusted EBITDA guidance to reflect the deal as part of its upcoming earnings release and call, expected in early November.
As part of the transaction, SteadyMD co-founders Guy Friedman (CEO) and Yarone Goren (COO) will join the DocGo leadership team.
“This acquisition marks an exciting milestone in DocGo’s mission to make high-quality, technology-powered healthcare more accessible,” said Lee Bienstock, CEO of DocGo. “SteadyMD has an impressive reputation and has built a proprietary platform that optimises the delivery of trusted, scalable virtual care services across all 50 states. 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 realise our goal of providing patients with healthcare at any address.”
Bienstock added that the company will continue to explore further acquisitions and partnerships to expand capabilities and scale while seeking to enhance shareholder value.
For SteadyMD, the deal is framed as an opportunity to extend its model of personalised virtual care.
“Joining forces with DocGo provides us with the resources to extend our vision of providing a more personalised, patient-centred approach to virtual care at an even larger scale,” said Friedman. “We are excited to work together to improve access, outcomes and convenience for millions of patients.”
DocGo expects to fund the acquisition using existing cash on its balance sheet. TD Securities (USA) LLC acted as exclusive financial adviser to DocGo, with Polsinelli serving as legal adviser. Alvarez & Marsal Transaction Advisory Group, Life Sciences, and Global Transaction Tax supported due diligence and strategic consulting. Goodwin Procter LLP served as legal adviser to SteadyMD.
