DocGo subsidiary wins $3.4 million VA medical transport contract

NEW YORK - DocGo Inc.’s (NASDAQ:DCGO) subsidiary Ambulnz has secured a multi-year $3.4 million contract to provide medical transportation services to the Albany Stratton VA Medical Center, according to a press release statement. The company, with annual revenues of $520.5 million and a strong balance sheet showing more cash than debt, maintains a healthy current ratio of 2.44.

Under the agreement, which began July 1, Ambulnz by DocGo will deliver basic life support, advanced life support and critical care ambulance services for patients requiring transportation to and from VA medical centers and community-based outpatient clinics in New York’s Capital Region.

"Our mission is to provide high quality, highly accessible care for all," said DocGo CEO Lee Bienstock, noting the company’s expansion of services to veterans in Upstate New York.

The Albany Stratton VA Medical Center serves more than 50,000 veterans through its main campus and ten community-based outpatient clinics. The facility maintains 150 inpatient beds and handles approximately 700 inpatient admissions and 450,000 outpatient visits annually.

DocGo describes itself as a provider of technology-enabled mobile health and medical transportation services. The company offers mobile health services, remote patient monitoring and ambulance services through its proprietary technology platform and certified health professionals. Visit InvestingPro to access the full financial health analysis and growth metrics for DCGO.

In other recent news, DocGo Inc. reported disappointing first-quarter 2025 financial results, with revenue dropping 50% year-over-year to $96 million, missing the consensus estimate of $111.93 million. The company also recorded an earnings per share (EPS) loss of $0.09, falling short of the expected $0.02. Following these results, BTIG downgraded DocGo’s stock from Buy to Neutral. The downgrade was influenced by DocGo’s downward revision of its 2025 revenue guidance from $410-$450 million to $300-$330 million, a significant adjustment attributed to uncertainties in the municipal channel. Additionally, DocGo revised its 2025 EBITDA guidance from a positive 5% margin to a loss of $20 million to $30 million. The company cited ongoing delays in government RFP submissions and decision-making as contributing factors to this revision. Despite these challenges, DocGo’s other business segments, such as Transport and Payer and Provider, are reportedly performing well. Meanwhile, at the company’s 2025 Annual Meeting, shareholders elected three directors and approved executive compensation but rejected two proposed amendments to the company’s certificate of incorporation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.