DocGo gains as it begins receiving payments under migrant care contract

DocGo

24/10/2023 14:05

** Shares of health services company DocGo  DCGO.O  up ~17%
at $7.04 before the bell 
    ** Co says it has started receiving payments related to the
HPD Agreement, under which it provides certain care services to
migrants
    ** DCGO says that planned review by the New York State's
Office of Temporary and Disability Assistance (OTDA) has been
completed 
    ** Review found that each of the services required to be
provided under the contract by DCGO were available at each site
- DocGo citing letter from OTDA 
    ** Letter states residents at each site informed OTDA staff
that they felt safe and expressed no concerns - DCGO 
    ** In September, press reports said that New York City
comptroller's office had rejected the $432 mln migrant services
contract that co received from New York City officials 
    ** As of last close, DCGO down ~15%

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))