Intangible Assets, Net

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible Assets, Net

At March 31, 2023, the Company’s intangible assets, net, consisted of the following (in thousands):

	Useful Life (Years)	Gross March 31, 2023		Accumulated Amortization		Net March 31, 2023
Indefinite lived assets:
Trademarks	N/A	$	2,150	$	—	$	2,150
Amortized intangible assets:
Network relationships	11-21	150,679		(97,882)		52,797
Management contracts	15	22,832		(15,595)		7,237
Member relationships	12	20,477		(5,813)		14,664
Patient management platform	5	2,060		(2,060)		—
Tradename/trademarks	20	1,011		(270)		741
Developed technology	6	107		(21)		86
		$	199,316	$	(121,641)	$	77,675

At December 31, 2022, the Company’s intangible assets, net, consisted of the following (in thousands):

	Useful Life (Years)	Gross December 31, 2022		Accumulated Amortization		Net December 31, 2022
Indefinite lived assets:
Trademarks	N/A	$	2,150	$	—	$	2,150
Amortized intangible assets:
Network relationships	11-21	150,679		(95,451)		55,228
Management contracts	15	22,832		(15,208)		7,624
Member relationships	12	16,633		(5,619)		11,014
Patient management platform	5	2,060		(2,060)		—
Tradename/trademarks	20	1,011		(257)		754
Developed technology	6	107		(16)		91
		$	195,472	$	(118,611)	$	76,861

Included in depreciation and amortization on the accompanying consolidated statements of income are amortization expenses of $3.0 million and $3.7 million for the three months ended March 31, 2023 and 2022, respectively.

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

	Amount
2023 (excluding the three months ended March 31, 2023)	$	8,917
2024	11,841
2025	10,915
2026	9,675
2027	8,390
Thereafter	25,787
Total	$	75,525