Aug 17, 2026 earnings call — Hicuity Health acquisition and integration
DocGo signed a definitive agreement to acquire Hicuity Health, which generated approximately $65 million in trailing 12-month revenue.
Revenue $0.1B (est $0.1B) · EPS $-0.16 (est $-0.10)
Key quotes
"Today, we're announcing that we've signed a definitive agreement to acquire virtual care provider, Hicuity Health."
"Across all business lines, we achieved record volumes during the quarter, with U.S. medical transportation increasing 15%, healthcare in the home increasing 26%, mobile phlebotomy increasing 20%."
"Our engineers developed an AI communications tool that now handles 60% of inbound patient calls without the patient needing to speak to one of our live agents, and it also handles 100% of our outbound appointment scheduling calls."
Analyst Q&A 3
Hicuity deal overlap, growth, and RPM risk
Q (Ryan MacDonald · Needham): He asked about customer overlap with Hicuity, cross-sell opportunities, how fast Hicuity is growing, and what could block closing by year-end. He also asked about risks from CMS's proposed RPM rule and whether Hicuity is exposed.
A: Management said Hicuity mainly works with hospital systems and there is meaningful overlap with DocGo, creating cross-sell opportunities to offer both virtual and in-person care in the home. They said Hicuity has about $65 million of trailing 12-month revenues and they will support its growth; closing needs state regulatory approvals and some customer consents but nothing they view as particularly troubling. On RPM, they emphasized their focus on chronic care and transitional care management (not just monitoring), noted about 2,000 patients in their RPM program and about 55,000 implantable cardiac monitoring patients that are not affected by current CMS discussion.
"We think there is a nice opportunity for us to be able to provide additional in-person care services in the home, like mobile phlebotomy and other preventative care and transitional care services in the home." — Lee Bienstock (CEO)
Hicuity growth, RPM exposure, cross-sell, cost savings
Q (Richard Close · Canaccord Genuity): He asked whether the $65 million trailing revenue for Hicuity is growing and at what rate, and he asked to confirm RPM exposure numbers. He also asked whether customers have shown interest and how clinical functions will be streamlined to save costs.
A: They said Hicuity has been growing at a low double-digit rate and they expect about a 10%-12% growth rate looking into 2027. Lee confirmed about 2,000 patients in the RPM program could be at risk while about 55,000 implantable cardiac monitoring patients are not affected, said they have had discreet conversations with customers and see cross-sell potential, and explained clinical streamlining would combine multi-state clinical practice groups and integrate clinicians and shared vendors to gain efficiencies.
"I would say it's growing probably at a low double-digit rate." — Norm Rosenberg
Organic growth, plan for break-even, segment revenues
Q (David Larsen · BTIG): He asked what the organic revenue growth rate for the quarter was and how they plan to reach EBITDA breakeven exiting 2026. He also asked for revenue sizes of businesses like RPM, virtual care, phlebotomy, and care gap closure.
A: They defined organic as business lines present in both Q2 2025 and Q2 2026 and said that organic growth was roughly 5% year-over-year. For breakeven, they said it will be a mix of incremental revenue growth (seasonal increases in SteadyMD and transport), better gross margins as temporary factors reverse, and continued declines in SG&A from severance roll-offs and vendor repricing. They sized segments: Cardiac RMS (RPM) was about $4.5 million in the quarter (annualized $18 million), SteadyMD about $8.9 million in the quarter, PTI mobile phlebotomy about $1.4 million-$1.5 million in the quarter (run rate about $6 million), and care gap closure between $1 million and $2 million in the quarter.
"Remote patient monitoring, the Cardiac RMS business, had revenues about $4.5 million in the quarter." — Norm Rosenberg