DocGo (DCGO), a mobile health and medical transport company, said Monday that it has bought virtual care platform SteadyMD. The news sparked strong investor interest, sending shares up over 40% in premarket trading on Tuesday.
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As part of the deal, SteadyMD co-founders Guy Friedman (CEO) and Yarone Goren (COO) will join DocGo’s leadership team. The company said the acquisition will be funded entirely through existing cash on its balance sheet. The move helps DocGo grow its reach beyond mobile health visits into online care, giving patients easier access to doctors and nurses from home.
SteadyMD Adds New Revenue Stream
Founded in 2016, SteadyMD offers virtual primary care and telehealth infrastructure solutions across all 50 U.S. states. The company is projected to generate about $25 million in revenue in 2025 and become EBITDA-positive in 2026. By integrating SteadyMD’s technology and provider network, DocGo aims to accelerate its growth in the remote care market, a key segment in post-pandemic healthcare.
DocGo noted that it will revise its 2025 revenue and adjusted EBITDA guidance to reflect the acquisition in its upcoming earnings release, expected in early November. Investors are likely to watch for updated financial targets and synergy expectations during the call.
Is DocGo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for DocGo is Moderate Buy, based on three Buys and two Hold ratings over the past three months. With that comes an average DCGO stock price target of $3.15, representing a potential 162.5% upside for the shares.
