Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The following table summarizes the carrying amounts of goodwill by segment at June 30, 2023 and December 31, 2022 (in thousands):

	June 30, 2023		December 31, 2022
Clinical Services	$	458,782	$	458,782
Advanced Diagnostics	63,984		63,984
Total	$	522,766	$	522,766

Intangible assets consisted of the following (in thousands):

		June 30, 2023
	Amortization Period (years)	Cost		Accumulated Amortization		Net
Customer Relationships	7 - 15	$	143,101	$	60,590	$	82,511
Developed Technology	10 - 15	310,226		43,778		266,448
Marketing Assets	4	549		307		242
Trademarks	15	31,473		4,272		27,201
Trade Name	2.5	2,584		1,740		844
Trademark - Indefinite lived	—	13,447		—		13,447
Total		$	501,380	$	110,687	$	390,693

 

		December 31, 2022
	Amortization Period (years)	Cost		Accumulated Amortization		Net
Customer Relationships	7 - 15	$	143,101	$	55,645	$	87,456
Developed Technology	10 - 15	310,226		33,117		277,109
Marketing Assets	4	549		238		311
Trademarks	15	31,473		3,223		28,250
Trade Name	2.5	2,584		897		1,687
Trademark - Indefinite lived	—	13,447		—		13,447
Total		$	501,380	$	93,120	$	408,260

The Company records amortization expense within cost of revenue and general and administrative expense on the Consolidated Statement of Operations. The following table summarizes the amortization expense for the three and six months ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Amortization of intangibles included in cost of revenue	$	4,853	$	4,853	$	9,706	$	9,706
Amortization of intangibles included in general and administrative expenses	3,930		3,637		7,860		7,273
Total amortization of intangibles	$	8,783	$	8,490	$	17,566	$	16,979

The estimated amortization expense related to amortizable intangible assets for each of the following periods as of June 30, 2023 is as follows (in thousands):

 

Remainder of 2023	$	17,566
2024	33,447
2025	33,343
2026	33,308
2027	32,758
Thereafter	226,824
Total	$	377,246