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DocGo has announced a partnership with Medpod to enhance telehealth services utilizing Medpod's MobileDoc device. This collaboration aims to expand remote consultations and medical care delivery directly to patients' locations, enabling the capture and analysis of crucial patient data. By integrating Medpod's telediagnostic software with DocGo's logistics and personnel, both companies aim to optimize healthcare delivery. DocGo recently confirmed its merger with Motion Acquisition Corp. (Nasdaq: MOTN), and the combined entity will operate under the DocGo name, listed as DCGO on Nasdaq.
Motion Acquisition Corp. (MOTN) has announced impressive preliminary results for its merger partner, DocGo, for Q1 2021. Total revenue reached $49.6 million, a 270% increase from Q1 2020. Telehealth Plus revenue surged to nearly $30 million from $0.5 million last year. The net loss narrowed to $1.7 million, and the company raised its full-year revenue outlook to at least $160 million from $155 million. These results underline DocGo's strong growth trajectory and positive demand for its services.
DocGo, a provider of last-mile telehealth and medical mobility services, announced its expansion into Wisconsin to provide medical transportation for Fresenius Medical Care North America (FMCNA) kidney dialysis patients. With this move, DocGo is now licensed to serve 44 FMCNA clinics in the state. The company employs over 2,000 staff and operates a fleet of 400 vehicles nationwide, utilizing AI technology for improved service delivery. This expansion reflects DocGo's strategy to enhance patient care and accessibility across the U.S. as it continues its merger with Motion Acquisition Corp. (MOTN).
DocGo, through its subsidiary Ambulnz, has partnered with the New York Mets as their official ambulance and emergency medical services provider at Citi Field. This partnership marks the return of fans to the venue since 2019. The collaboration includes a co-branded Ambulnz vehicle and a trained medical team on-site to address health emergencies during games and events. DocGo aims to enhance safety for attendees while promoting their integrated medical mobility services, including telehealth solutions. The company is also merging with Motion Acquisition Corp. (Nasdaq: MOTN).
The NYC Test & Trace Corps and DocGo announced that they have conducted over 150,000 COVID-19 tests since December 1, 2020, through their mobile testing initiative. The service, utilizing a fleet of 40 mobile units, offers both PCR and rapid antigen tests at no cost to New Yorkers, with results in as little as 15 minutes. This initiative aims to enhance testing accessibility in underserved communities, supporting ongoing COVID-19 vaccination efforts. The NYC Test & Trace Corps operates as part of the city’s comprehensive COVID-19 response.
Ambulnz, Inc. will become DocGo, Inc. and is merging with Motion Acquisition Corp. (MOTN) in a definitive agreement to go public. The merger values DocGo at approximately $1.1 billion and is expected to yield $225 million in cash for the combined entity, assuming no redemptions by Motion's stockholders. DocGo, a leader in last-mile telehealth and integrated medical mobility services, generated $94 million in 2020 revenue. The company anticipates revenues of over $155 million for 2021 and $265 million for 2022, leveraging its partnerships and expanding market reach.