Business Combination and Goodwill (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed, as of the acquisition date:

	Preliminary Balance Sheet
Assets acquired
Cash and cash equivalents	$	3,568,554
Accounts receivable, net	10,335,664
Other current assets	2,004,649
Network relationship intangible assets	29,858,000
Goodwill	24,637,507
Accounts Payable	(2,273,753		)
Deferred tax liabilities	(8,355,343		)
Medical liabilities	(14,719,714		)
Net assets acquired	$	45,055,564
Cash paid	$	45,055,564

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed, as of the acquisition date:

	Preliminary Balance Sheet
Assets acquired
Cash and cash equivalents	$	581,965
Accounts receivable, net	5,150,060
Other current assets	198,056
Network relationship intangible assets	11,411,000
Goodwill	25,604,917
Accounts Payable	(2,993,325		)
Deferred tax liabilities	(3,193,209		)
Medical liabilities	(11,684,658		)
Subordinated Loan	(15,408,138		)
Net asset acquired	$	9,666,668
Equity investment contributed	$	2,416,668
Cash paid	$	7,250,000

Schedule of Carrying Value of Goodwill

The change in the carrying value of goodwill for the nine months ended September 30, 2019 is as follows;

Balance, January 1, 2019	$	185,805,880
Acquisition of Alpha Care	24,637,507
Acquisition of AMG	1,086,468
Acquisition of Accountable Health Care	25,604,917
Balance, September 30, 2019	$	237,134,772