DocGo to acquire Hicuity Health in stock-for-equity deal

DocGo Inc. announced a definitive agreement to acquire virtual care provider Hicuity Health through a stock-for-equity transaction and assumption of approximately $52 million in Hicuity debt. Under the terms, DocGo will issue common stock equal to 2.0% of fully diluted shares at closing, with potential additional earnout shares representing 3.5% if DocGo's stock reaches a specified market-cap threshold. Hicuity generated approximately $65 million in trailing-12-month revenue and $4.5 million in adjusted EBITDA and provides higher-acuity telehealth services. The transaction is intended to qualify as a tax-free reorganization and remains subject to closing conditions including execution of a definitive credit agreement.