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DocGo Acquires PTI Health To Expand Proactive Healthcare Offering with Mobile Lab Collection and Mobile Phlebotomy Services

1. DocGo acquires PTI Health to expand mobile health services. 2. Acquisition addresses diagnostic care gaps for underserved populations. 3. PTI Health to leverage existing lab partnerships, enhancing service offerings. 4. Expansion plans include New York City, increasing market reach. 5. Company aims to enhance patient experience and service efficiency.

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FAQ

Why Bullish?

The acquisition is expected to boost revenue and market share, similar to DocGo's past successful acquisitions. By integrating PTI Health's services, DocGo is better positioned to capture urban market demand.

How important is it?

The acquisition significantly impacts DocGo's service capabilities, positioning it for future growth. Investing in mobile healthcare improves accessibility, which aligns with market trends.

Why Long Term?

The integration may take time, but the enlarged service portfolio should yield growth over the next few years. Historical precedents suggest strong growth following similar expansions.

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PTIAMZNGDRX
NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) (“DocGo” or the “Company”), a leading provider of technology-enabled mobile health services, today announced the acquisition of PTI Health, a mid-Atlantic mobile lab collection and phlebotomy services company. This strategic move expands DocGo’s healthcare service offering to include mobile phlebotomy lab services, addressing critical gaps in diagnostic care for underserved populations. With this acquisition, DocGo will facilitate timely, convenient blood collection and additional at-home testing services for patients, offering a new level of care to those with limited access to traditional labs or transportation options. The acquisition enhances DocGo’s offerings by leveraging PTI Health’s existing partnerships and ordering platform integrations with the nation’s two largest labs, and will facilitate PTI Health’s expansion into new markets. Initially, DocGo plans to expand PTI Health’s operations into New York City, addressing critical gaps in facilitating lab and diagnostic services in one of the nation’s largest urban markets. “PTI Health has a great team and integrations with the largest laboratory service providers in the US – we are incredibly excited to complete this transaction. By incorporating PTI Health’s mobile lab collection, phlebotomy services and clinical staff, we’re expanding our mobile health offerings and further strengthening our vertically integrated care model to bring diagnostic and primary care services to patients across our footprint,” said Lee Bienstock, CEO of DocGo. “We believe this acquisition is a good example of our ability to expand our offering while leveraging our existing customer base to drive further growth at PTI. We are constantly seeking opportunities to leverage our balance sheet to complement our growth in 2025 and beyond.” PTI Health specializes in serving patients who are homebound or face transportation challenges, and their clinicians perform thousands of lab collections every year. PTI Health’s experienced mobile phlebotomists perform in-home blood draws and other collections, enabling seamless diagnostics and care gap closure in collaboration with patients’ healthcare providers. PTI also supports mobile clinical trials, adding a new dimension to DocGo’s robust healthcare offering. As part of the acquisition, PTI Health President Wayne Meadows will join DocGo as a General Manager. “I’m excited to join DocGo and expand on PTI Health’s success bringing vital lab services to patients,” said Meadows. “DocGo delivers a world-class patient experience, as evidenced by their 2024 mobile health Net Promoter Score (NPS) of 86. I look forward to working together to elevate PTI Health’s offering and expand our services across DocGo’s entire US footprint to provide vital healthcare access to even more patients.” About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient’s home or workplace. Together with DocGo’s integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com. To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit www.proactivecarenow.com. Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Company’s plans, strategies, outcomes, and prospects, both business and financial, including the Company’s acquisition of PTI Health, the expected benefits of such acquisition, PTI Health’s expansion into new markets and the Company’s acquisition strategy. These statements are based on the beliefs and assumptions of the Company’s management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking. In some cases, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “might,” “will,” “should,” “could,” “can,” “would,” “design,” “potential,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company’s control, and which may cause the Company’s actual results or outcomes, or the timing of results or outcomes, to differ materially from those contained in the Company’s forward-looking statements, including, but not limited to the following: the Company’s ability to successfully implement its business strategy, including with respect to PTI Health and other acquisitions; the Company’s ability to successfully integrate PTI Health or other acquisitions or realize the benefits of such acquisitions; the Company’s reliance on and ability to maintain its contractual relationships with its healthcare provider partners and clients; the Company’s ability to compete effectively in a highly competitive industry; the Company’s ability to maintain existing contracts; the Company’s reliance on government contracts; the Company’s ability to effectively manage its growth; the Company’s financial performance and future prospects; the Company’s ability to deliver on its business strategies or models, plans and goals; the Company’s ability to expand geographically; the Company’s competitive position and opportunities, including its ability to realize the benefits from its operating model; and other risk factors included in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements made in this press release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law.

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