Full Press Release Details
Announces $90 Million Line of Credit with Citibank, N.A.
funds to be used for opportunistic M&A and working capital as needed
YORK (Nov. 2, 2022) - (Business Wire) - DocGo (Nasdaq: DCGO), a leading provider of last-mile mobile health services,
today announced that it has entered into a $90 million secured line of credit (LOC) with Citibank, N.A. as the Administrative Agent.
The LOC, which also includes a $50 million accordion option, carries a five-year term.
Oberholzer, chief financial officer of DocGo, commented, "We are seeing many compelling opportunities in the market to further
expand our mobile health solution or enter into new territories. We have a very strong balance sheet and positive cash flow to fund our
operations. The additional funds available to us through this Line of Credit will be used to support opportunistic M&A that strengthens
and enhances our leadership position as the provider of choice for last mile' mobile health services."
is a leading provider of last-mile mobile care services. DocGo is disrupting the traditional four-wall healthcare system by providing
high quality, highly affordable care to patients where and when they need it. DocGo's innovative technology and 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.