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A company specializing in last mile telehealth and medical mobility services is going public in a SPAC deal announced Tuesday.
The SPAC Deal: Ambulnz is going public in a $1.1 billion deal with
Motion Acquisition Corp (NASDAQ: MOTN). As part of the merger, the company will rebrand as DocGo and trade with ticker DCGO after the merger closes.
Funds from the SPAC deal are expected to be used for “rapid geographic expansion,” according to the company. Current Motion Acquisition shareholders will own 10% of the new company.
About The Future DocGo: Founded in 2015, Ambulnz has a network of over 1,700 paramedics and EMTs that provide testing, vaccination, bloodwork, IV/hydration, wound care and mobile imaging.