(Bloomberg) — Ambulnz Inc., a supplier of cell medical companies and affected person transportation, has agreed to go public by a merger with Movement Acquisition Corp.The particular goal acquisition firm is elevating $125 million in new fairness from buyers together with Gentle Avenue Capital and Moore Strategic Ventures to help the transaction, which is ready to worth the mixed entity at about $1.1 billion, in keeping with an announcement Tuesday, following an earlier Bloomberg report.Ambulnz, to be renamed DocGo Inc., is led by Chief Govt Officer Stan Vashovsky. The New York-based firm, which operates in 23 U.S. states and the U.Ok., affords non-critical medical companies to sufferers at residence together with vaccinations, blood work and testing, in keeping with the assertion.“We’re excited to speculate additional in our TeleHealth Plus enterprise, which has grown tremendously prior to now 12 months,” Vashovsky mentioned in an interview, referencing the corporate’s last-mile telemedicine companies which bridge the hole between a video or voice name and a go to to a doctor’s workplace.The SPAC transaction arms the corporate with money to additional broaden its nationwide footprint and with public foreign money to pursue acquisitions in associated fields resembling private emergency response programs, Vashovsky mentioned.The agency can present knowledge together with real-time automobile places, and was the biggest non-public ambulance operator responding to the pandemic in New York State, its web site reveals. The corporate additionally operates Covid-19 cell testing and vaccination items by an arm often known as Fast Dependable Testing, which has dealt with about 1.2 million checks and administered about 25,000 vaccines.The corporate, which has partnerships with dialysis specialist Fresenius Medical Care, New Jersey hospital community Jefferson Well being and Colorado’s UCHealth, additionally supplies on-site medical companies at occasions. It posted income of about $94 million in 2020, practically double the year-earlier quantity. That determine is anticipated to surpass $155 million this 12 months.Movement Acquisition, led by CEO Michael Burdiek, raised $115 million in an October preliminary public providing and mentioned on the time it will give attention to trying to find goal companies in linked automobile industries globally.Whereas there are different firms targeted on telehealth, resembling Teladoc Well being Inc. and American Nicely Corp,. none dispatch licensed care professionals to sufferers at residence, Burdiek mentioned.Like most CEOs placing offers throughout the pandemic, Vashovsky and Burdiek have but to satisfy — your complete transaction was negotiated by way of Zoom.For extra articles like this, please go to us at bloomberg.comSubscribe now to remain forward with probably the most trusted enterprise information supply.©2021 Bloomberg L.P.