Business Combinations and Goodwill (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the purchase price allocation of the fair value of assets acquired and liabilities assumed related to each acquisition at the acquisition date for acquisitions that closed during the nine months ended September 30, 2024 (in thousands):

	CFC		AHMS		Others*		Net Total
Total purchase consideration:
Cash paid	$	90,998	$	63,935	$	15,000	$	169,933
Contingent consideration		8,026		—		6,161		14,187
Common stock issued		21,952		—		—		21,952
	$	120,976	$	63,935	$	21,161	$	206,072
Assets:
Cash and cash equivalents	$	16,674	$	33,950	$	3,515	$	54,139
Investment in marketable securities		—		—		30		30
Receivables		6,530		11,007		—		17,537
Other receivables		472		—		—		472
Prepaid expenses and other current assets		—		36		11		47
Amount due from affiliates		2,902		—		—		2,902
Land, property, and equipment		—		—		823		823
Intangible assets		28,000		23,600		3,900		55,500
Goodwill		83,602		31,048		13,621		128,271
Income tax receivable		—		—		1		1
Restricted cash		—		300		—		300
Total assets acquired	$	138,180	$	99,941	$	21,901	$	260,022
Liabilities:
Accounts payable and accrued expenses	$	2,487	$	7,111	$	250	$	9,848
Medical liabilities		14,693		14,942		—		29,635
Amount due from affiliates		—		5,890		54		5,944
Income taxes payable		24		1,689		—		1,713
Deferred tax liability		—		6,374		8		6,382
Non-controlling interest		—		—		428		428
Total liabilities assumed	$	17,204	$	36,006	$	740	$	53,950
Total net assets acquired	$	120,976	$	63,935	$	21,161	$	206,072

*Others consist of estimated fair values of the assets acquired, net of cash acquired, related to ADSC, PCCCV, and Airline Complete.

Unaudited Pro Forma Financial Information

The pro forma financial information in the table below presents the combined results of the Company and CFC, AHMS, ADSC, PCCCV, and Airline Complete as if the acquisitions had occurred on January 1, 2023. The pro forma information presented is shown for illustrative purposes only and is not necessarily indicative of future results of operations of the Company or results of operations of the Company that would have actually occurred had the transactions been in effect for the periods presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2024		2023		2024		2023
Total revenue	$	478,710	$	430,399	$	1,434,813	$	1,207,867
Net income attributable to Astrana Health, Inc.	$	16,094	$	26,215	$	54,148	$	64,875
Net income per share – basic	$	0.34	$	0.56	$	1.14	$	1.39
Net income per share – diluted	$	0.33	$	0.56	$	1.13	$	1.38

Schedule of Change in Carrying Value of Goodwill

The change in the carrying value of goodwill for the nine months ended September 30, 2024 was as follows (in thousands):

	Amount
Balance, January 1, 2024	$	278,831
Acquisitions		128,271
Adjustments		2,609
Balance, September 30, 2024	$	409,711