Afternoon. Welcome to DocGo's 2026 Annual Meeting of Stockholders. My name is Stephen Klasko, outgoing Chair of the Board of DocGo, and I will serve as Chair of today's meeting. The time is shortly after 12:00 P.M. I now call the meeting to order. I note that the polls are open. You may vote your shares online at any time during this meeting before the polls close. If you previously voted via the internet, telephone, or the return of your proxy card, you need not vote today unless you wish to change your vote. The polls will close shortly following introduction of the proposals to be voted on at this meeting. First, let me introduce the other members of your Board.
Michael Burdiek, Vina Leite, Ira Smedra, James Travers, Lee Bienstock, who's also our Chief Executive Officer, and Ely Tendler, who's also our General Counsel and Secretary of this meeting. I would also like to introduce the other members of the management team who are joining us today. Norman Rosenberg, our Chief Financial Officer and Treasurer, and Stephen Sugrue, our Chief Compliance Officer. A representative of our independent registered public accounting firm, Urish Popeck, is also joining us today. Victor Latessa has been appointed and duly sworn as the Inspector of Election for this meeting to receive proxies, count the votes, and provide a report of voting results. This meeting will be conducted in accordance with the agenda and rules of conduct that have been provided on the virtual meeting website. Please review these rules as they contain important information.
To maintain an informative, orderly, and constructive meeting, we ask that participants abide by these rules. We will open the floor to questions of general interest and questions related to the proposals after the formal business portion of the meeting has been concluded. Should you desire to submit a question, you may do so on the web portal. We appreciate your cooperation with these rules. I will now turn it over to Mr. Tendler to report on certain procedural matters.
The company's agents have certified that a notice regarding the internet availability of proxy materials was mailed to stockholders of record beginning April 22nd. The company's proxy materials were also, in fact, made available over the internet to those stockholders. We will file copies of the notice and related affidavit of mailing with the minutes of this meeting. I have received an oath signed by their Inspector of Election stating that he will faithfully execute with strict impartiality his duties, which will be filed with the minutes of this meeting. Our Board set April 20th as the record date for this meeting. Only stockholders of record on that date are entitled to vote at this meeting. As of that date, there were 98,778,413 shares of the company's common stock issued and outstanding. A majority of those shares are present or represented by proxy at this meeting.
Therefore, we have a quorum for the transaction of business at this meeting.
Thank you, Secretary Tendler. With that, I declare a quorum is present for the transaction of business, and this meeting is duly convened. I will now proceed with reviewing the matters to be voted on at this meeting. There are six management proposals on today's agenda, each of which were disclosed in our proxy statement. Our secretary did not receive notice of any other proposals or nominations within the deadline provided for in our bylaws, and therefore, no other proposals or nominations may be presented at this meeting. The first matter to be considered is the election of the following Class 1 director nominees to the board to serve until the 2029 annual meeting of stockholders, and until the respective successors have been duly elected and qualified, or until their earlier resignation, death, disqualification, or removal. Vina Leite and James M. Travers.
The second matter to be considered is the approval on a non-binding and advisory basis of the compensation of the company's named executive officers. The third matter to be considered is the approval of an amendment to the company's Second Amended and Restated Certificate of Incorporation to effect a reverse stock split at a ratio of 1 for 5, 1 for 6, 1 for 7, 1 for 8, 1 for 9, or 1 for 10, to be determined in the sole discretion of our board. The fourth matter to be considered is the approval of an amendment to the company's Second Amended and Restated Certificate of Incorporation regarding the waiver of corporate opportunities. The fifth matter to be considered is the approval of an amendment to the company's Second Amended and Restated Certificate of Incorporation to limit the liability of certain officers as permitted by Delaware law.
The sixth matter to be considered is the ratification of the appointment of Urish Popeck as the company's independent auditor for the year ending December 31st, 2026. I have been advised that representatives of Urish Popeck do not have prepared remarks, but are available to respond to any questions from stockholders. We will close the poll shortly. If you have previously voted, it is not necessary for you to vote today unless you wish to change your vote. If you have not already voted, please do so at this time. It is now 12:06 P.M., and I hereby declare the polls closed. I will now turn it over to Mr. Tendler to report on the preliminary voting results. Mr. Tendler?
Thank you, Steve. Based on the preliminary report received from the Inspector of Elections, the stockholders have elected all director nominees who are up for election for another term. The stockholders have approved the compensation of the company's named executive officers. The stockholders have approved the amendment to the company's Second Amended and Restated Certificate of Incorporation to effect a reverse stock split with a ratio to be determined by our board. The stockholders have not approved the amendment to the company's Second Amended and Restated Certificate of Incorporation regarding the waiver of corporate opportunities. The stockholders have not approved the amendment to the company's Second Amended and Restated Certificate of Incorporation to limit the liability of certain officers as permitted by Delaware law, and the stockholders have ratified the appointment of Urish Popeck as the company's independent registered public accounting firm for 2026.
Thank you. The final voting results will be publicly reported in a Form 8-K that will be filed with the SEC. There are no other items of business before today's meeting. This concludes the formal business portion of our meeting. I will now turn it over to our CEO, Lee Bienstock, to make a few concluding remarks.
Thank you, Steve. Thank you all for joining us today. I'd like to take a few minutes to speak candidly about where DocGo has been, where we stand right now, most importantly, where we are going, because I believe we're at a genuine inflection point. I want you to understand exactly why I feel that way. Our mission to bring high-quality, highly accessible care to all and our vision to deliver healthcare at any address are vital. If anything, they have never felt more urgent. Our healthcare system is ill and in need of transformation. Access to care remains deeply uneven. Chronic disease is straining every corner of the system. Hospitals continue to fight for capacity. Payers are wrestling with costs that keep rising. These are not abstract issues.
They are the challenges DocGo was built to address. We are working to solve them at scale every day. In 2025 alone, DocGo celebrated the twin milestones of our company's 10-year anniversary and our 10 million patient interaction since inception. Our clinical staff provided services across 50 states in the U.S. and across the U.K. Our proprietary tech platform calculated over 15.5 million estimated arrival times for our customers. Our network of clinicians traveled over 11 million miles to facilitate care across over 1.3 million patient interactions. We continue to scale our Care Gap Closure Programs. We've been assigned over 1.6 million patients since inception. A testament to the quality of this offering is our program net promoter score of 92, a world-class score that far exceeds the healthcare industry NPS benchmark of 58. 2025 was a pivotal year for DocGo, one of transition, discipline, and momentum.
We made deliberate, strategic decisions, positive changes that I am confident will define the company's trajectory for years to come. We strengthened the foundation of our core businesses, completed a transformative acquisition, and sharpened the capabilities that set DocGo apart in the market. The results of this work are already showing up in our numbers, our top line is strong and getting even stronger. As I shared on our earnings call in May, we achieved record volumes across all major business lines in the first quarter, with U.S. medical transportation increasing 17%, healthcare in the home increasing 46%, mobile phlebotomy increasing 8%, cardiac and remote patient monitoring increasing 13%, and virtual care and lab ordering increasing 37% year-over-year. I'd like to take a few minutes to share additional detail about our key business lines. First, our flagship profitable medical transportation offering.
In 2025, this business generated more than $200 million in revenue, it continues to perform well. We enter 2026 with record trip volumes and an enviable roster of customers: NYC Health + Hospitals, Northwell Health, Mount Sinai, Jefferson Health, HCA TriStar, and the National Health Service in the U.K., among others. Health systems need more than just a ride. They need reliability, real-time visibility, and accountability. DocGo delivers all three, backed by a proprietary technology platform with deep EHR integration, including Epic, that embeds directly into a customer's workflows. Our offering resonates with the market, we continue to solidify the long-term revenue profile of this business segment.
Since the start of the second quarter, we renewed our contract with one major New York health system for an additional year and renewed our contract with another major New York health system for two additional years and added their Staten Island facilities. We also signed deals in Tennessee, Wisconsin, in the U.K. Our business development pipeline remains strong and supportive of continued growth, with multiple opportunities for medical transportation growth in our U.S. our U.K. operations. Second, our payer and provider business, which is experiencing rapid growth and maturing into a genuinely differentiated offering. As I previously shared, the number of patients assigned to us for care gap closure continues to climb and is now over 1.6 million total patients since we launched these services. In the first quarter of 2026 alone, we increased care gap visits by 46% year-over-year.
We also crossed a meaningful milestone in 2026. Our primary care panel now exceeds 1,000 enrolled patients, the vast majority enrolled in Q1, our goal is for this business line to break even in late 2026, dramatically lessening the investment level that has been required to launch and grow this business over the last few years.
Our mobile phlebotomy offering, anchored by our 2025 acquisition of PTI Health, is outperforming every expectation. We are now projecting up to 75% revenue growth for this business in 2026 and expect to exit this year at 900 home visits per day. We have opened new territories in Upstate New York and Pennsylvania and recently announced our South Florida launch and expansion of our relationship with a major national clinical laboratory in the Southeast. The power of bringing care to patients where they are, when they need it, encompasses both the service itself and the insights it generates. When a DocGo clinician enters a patient's home, they see things no office visit can reveal: fall hazards, medication challenges, social isolation. That 360-degree view of a patient's reality is exactly what value-based care needs, it is the capability that very few companies can replicate at our scale.
Third, our virtual care offering, which took a defining step forward with the acquisition of SteadyMD in late 2025. We see SteadyMD as a core driver of long-term value and integral to how we scale and win. Their platform includes a 50-state virtual care network, proprietary technology, over 700 advanced practice providers, a blue-chip customer base that includes multiple Fortune 10 companies. Their growth continues to be nothing short of exceptional. In Q1 2026, SteadyMD generated more than $9 million in revenue, a new quarterly record, and completed approximately 1.1 million visits and lab orders, up 38% year-over-year. During the first quarter, we leveraged DocGo's recruiting expertise to increase SteadyMD's clinical workforce by over 45%, and we expect this added workforce to help meet pent-up demand for SteadyMD's services in the second half of the year. Our integration efforts remain on track as well.
By the end of Q2, we anticipate that SteadyMD clinicians will be delivering virtual care across DocGo's mobile health programs. We have long held the conviction that the future of healthcare is not virtual or in-person. It is integrated. Virtual care expands reach. In-home care delivers the last mile. Together, they are more powerful than either alone. The addition of SteadyMD's services to DocGo's healthcare at any address portfolio is helping make this integrated vision a reality. As we continue to grow, we are laser-focused on leveraging technology and operational excellence to drive meaningful efficiency gains across the business. In addition to the ongoing actions we are taking to reduce both corporate and vendor spending, we launched our efficiency and innovation portfolio in Q4 of 2025.
This is a collection of over a dozen initiatives spanning Medical Transportation, mobile health, and corporate functions designed to optimize our operations and accelerate our return to profitability. We have deployed agentic AI into patient outreach and scheduling for our Care Gap Closure Programs, incorporated workflow automation into our proprietary Dara platform, and developed an AI agent to help expedite our pre-billing function and improve our revenue cycle management. These and other projects are expected to deliver significant cost savings in 2026 and accelerate into 2027. We are committed to continue leveraging technology to help increase operational efficiency, improve quality, drive better outcomes, and help us return to sustained profitability. As we previously shared, we have initiated a process to explore strategic alternatives designed to maximize shareholder value. I'm limited in what I can say while that process is ongoing, I want to be clear.
We are approaching this with rigor and with our shareholders' best interests as the only standard. We will communicate further developments as appropriate. Let me leave you with this. We strongly believe DocGo is on the right track. Our operational metrics point to it. Our top-line revenues point to it. Third-party accolades point to it as well. Over the past few months, DocGo has received three prestigious awards. DocGo was recognized as one of the 2026 World's Most Ethical Companies by Ethisphere, was awarded Best Overall Healthcare Cybersecurity Company in the 10th Annual MedTech Breakthrough Awards, and was cited as one of U.S. News & World Report's Best Companies to Work For for the last two years. These awards speak volumes about the quality of our governance and oversight, our technology and security, and about the quality of our workplace and our culture.
They're a testament to what we have accomplished as a team, I believe they are leading indicators about where we are headed in the future. DocGo has built differentiated capabilities, a scalable platform, and a value proposition that resonates with the most sophisticated buyers in healthcare. Our medical transportation business is strong and profitable. Our payer and provider business is scaling and approaching profitability. SteadyMD has opened a new frontier. Our efficiency innovation portfolio is helping clear the path to sustained, durable profitability. Bringing care to patients is about far more than access or convenience. It's about outcomes. It's about meeting a patient in their living room and understanding their world more completely than any office visit ever could. It's about catching the problem before it becomes a crisis. That is the model we are building, I believe it has the potential to reshape American healthcare.
That scale of our achievement would be impossible without the commitment of our people. More than 4,500 team members across the United States and the United Kingdom, including over 3,000 medically trained field staff who show up every day with skill, with dedication, and with purpose. I'm profoundly grateful for each and every one of them. DocGo is working to usher in the next era of healthcare, one that is more proactive, more mobile, more dynamic, and more human. To our investors, thank you for your confidence and your patience. To our partners, thank you for entrusting us to deliver care where it's needed most. To our employees, thank you for making this mission real, one patient at a time. To everyone listening in today, thank you for taking the time to join us. I have never been more energized about what lies ahead for DocGo.
Before I close, I wanted to take a moment to express gratitude to Dr. Stephen Klasko, our outgoing Chair of the Board, for his two years of service and leadership at DocGo, and we wish him continued success in his new role as CEO of General Catalyst's Health Assurance Foundation. I also wanted to welcome Michael Burdiek, current DocGo board member and Chairman of our audit committee, as the incoming Chair of the DocGo board. I look forward to continuing our close work together to chart a bright path forward. Back to Steve.
Thank you, Lee. Serving as chair these past two years has been one of the real privileges of my career. What's stayed with me is how seriously this team takes the idea, as you said, that a person's address shouldn't determine their access to care, and how relentlessly DocGo works to deliver healthcare at any address. My colleague Michael Burdiek brings exactly the rigor and judgment the board needs for this next chapter, and he has my full confidence. I'm not going far. I'll be cheering DocGo on and ready to help however I can, as the company continues to close the gap between where healthcare is and where it really needs to be. As previously noted, we'll now be available for a few minutes for any questions of general interest or related to the proposals that you might have.
Please note we will attempt to answer as many questions as time allows, only questions that comply with the meeting rules of conduct will be addressed. I see no additional questions. Thank you for attending today's meeting. We are grateful for your continued support of DocGo.
That concludes our meeting today. You may now disconnect.