Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

5.Intangible Assets, Net

At December 31, 2024, intangible assets, net consisted of the following (in thousands):

	Useful Life (Years)	Gross January 1, 2024		Additions		Impairment/ Disposal		Gross December 31, 2024		Accumulated Amortization			Net December 31, 2024
Indefinite lived assets:
Trademarks	N/A	$	2,150	$	—	$	—	$	2,150	$	—		$	2,150
Licenses	N/A		—		1,900		—		1,900		—			1,900
Amortized intangible assets:
Network relationships	10-21		150,679		21,238		—		171,917		(114,046	)		57,871
Management contracts	15		22,832		—		—		22,832		(17,953	)		4,879
Member relationships	7-14		24,077		49,000		—		73,077		(22,406	)		50,671
Patient management platform	5		2,060		—		—		2,060		(2,060	)		—
Tradename/trademarks	20		1,011		—		—		1,011		(358	)		653
Developed technology	6		107		—		—		107		(52	)		55
		$	202,916	$	72,138	$	—	$	275,054	$	(156,875	)	$	118,179

At December 31, 2023, intangible assets, net consisted of the following (in thousands):

	Useful Life (Years)	Gross January 1, 2023		Additions		Impairment/ Disposal		Gross December 31, 2023		Accumulated Amortization			Net December 31, 2023
Indefinite Lived Assets:
Trademarks	N/A	$	2,150	$	—	$	—	$	2,150	$	—		$	2,150
Amortized intangible assets:
Network relationships	11-21		150,679		—		—		150,679		(104,859	)		45,820
Management contracts	15		22,832		—		—		22,832		(16,662	)		6,170
Member relationships	10-14		16,633		7,444		—		24,077		(7,345	)		16,732
Patient management platform	5		2,060		—		—		2,060		(2,060	)		—
Tradename/trademarks	20		1,011		—		—		1,011		(308	)		703
Developed technology	6		107		—		—		107		(34	)		73
		$	195,472	$	7,444	$	—	$	202,916	$	(131,268	)	$	71,648

As of December 31, 2024, network relationships, management contracts, member relationships, tradename/trademarks, and developed technology had weighted-average remaining useful lives of 10.0 years, 5.5 years, 7.3 years, 12.9 years, and 3.1 years, respectively. Total weighted average remaining useful lives for all amortized intangible assets as of December 31, 2024 was 8.6 years. Amortization expense was $25.6 million, $12.7 million, and $13.7 million for the years ended December 31, 2024, 2023, and 2022, respectively, which is included in depreciation and amortization in the accompanying consolidated statements of income.

There was no impairment loss recorded related to intangibles for the years ended December 31, 2024, 2023, and 2022.

Future amortization expense is estimated to be as follows for the years ending December 31 (in thousands):

	Amount
2025	$	24,658
2026		20,295
2027		16,808
2028		14,077
2029		11,397
Thereafter		26,894
	$	114,129