Fair Value Measurements of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2024 are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	3,673	$	—	$	—	$	3,673
Marketable securities – certificates of deposit		2,289		—		—		2,289
Marketable securities – equity securities		89		—		—		89
I Health call option		—		—		3,778		3,778
Interest rate collar		—		19		—		19
	$	6,051	$	19	$	3,778	$	9,848
Liabilities
AAMG contingent consideration	$	2,110	$	—	$	—	$	2,110
VOMG contingent consideration		—		—		15		15
Sun Labs remaining equity interest purchase		—		—		7,352		7,352
ADSC contingent consideration		—		—		4,285		4,285
CFC contingent consideration		—		—		9,949		9,949
PCCCV contingent consideration		—		—		1,351		1,351
CHS contingent consideration		—		—		5,643		5,643
Total liabilities	$	2,110	$	—	$	28,595	$	30,705

* Included in cash and cash equivalents

The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2023 are presented below (in thousands):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Assets
Money market accounts*	$	4,842	$	—	$	—	$	4,842
Marketable securities – certificates of deposit		2,150		—		—		2,150
Marketable securities – equity securities		348		—		—		348
Total assets	$	7,340	$	—	$	—	$	7,340
Liabilities
AAMG contingent consideration	$	—	$	—	$	5,475	$	5,475
VOMG contingent consideration		—		—		17		17
DMG remaining equity interest purchase		—		—		8,542		8,542
Sun Labs remaining equity interest purchase		—		—		7,802		7,802
Interest rate collar		—		252		—		252
Total liabilities	$	—	$	252	$	21,836	$	22,088

* Included in cash and cash equivalents

Schedule of Change in Fair Value of Level 3 Liabilities

The change in the fair value of Level 3 liabilities is recognized in unrealized loss on investments, other income, and general and administrative expenses in the accompanying consolidated statements of income. As of December 31, 2024, the reconciliation of our Level 3 liabilities was as follows (in thousands):

	Amount
Balance at January 1, 2024	$	21,836
Additions		19,342
Transfer out		(2,110	)
Change in fair value of Level 3 liabilities		3,093
Settlements		(13,566	)
Balance at December 31, 2024	$	28,595

Schedule of Gain (Loss) on Equity Securities

The components comprising total gains and losses on equity securities are as follows (in thousands) for the periods listed below:

	Years ended December 31,
	2024			2023
Total losses recognized on equity securities	$	(135	)	$	(6,629	)
Less losses recognized on equity securities sold		(146	)		(4,052	)
Unrealized gain (loss) recognized on equity securities held at end of period	$	11		$	(2,577	)