Investments in Other Entities

3 Months Ended

Mar. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Investments in Other Entities

Investments in Other Entities

Equity Method

For the three months ended March 31, 2024 and 2023, the Company’s equity method investment balance consisted of the following (in thousands):

	% of Ownership	December 31, 2023		Initial Investment		Allocation of Net Income		Distribution		March 31, 2024
LaSalle Medical Associates – IPA line of business	25%	$	9,866	$	—	$	359	$	—	$	10,225
Pacific Medical Imaging & Oncology Center, Inc.	40%	1,691		—		27		—		1,718
CAIPA MSO, LLC	30%	13,660		—		186		—		13,846
I Health, Inc.	25%	—		9,487		—		—		9,487
Other *	25%	557		—		60		—		617
		$	25,774	$	9,487	$	632	$	—	$	35,893

	% of Ownership	December 31, 2022		Initial Investment		Allocation of Net Income (Loss)		Distribution		March 31, 2023
LaSalle Medical Associates – IPA line of business	25%	$	5,684	$	—	$	2,165	$	—	$	7,849
Pacific Medical Imaging & Oncology Center, Inc.	40%	1,878		—		8		—		1,886
531 W. College, LLC **	50%	17,281		—		(90)		—		17,191
One MSO, LLC **	50%	2,718		—		115		—		2,833
CAIPA MSO, LLC	30%	12,738		—		249		—		12,987
Other *	25%	—		325		37		—		362
		$	40,299	$	325	$	2,484	$	—	$	43,108

* Other consists of smaller equity method investments.

** Investment were solely for the benefit of APC and its shareholders.

I Health, Inc.

On March 31, 2024, a wholly owned subsidiary of the Company acquired a 25% equity interest in I Health, Inc. (“I Health”), a management service organization. The Company accounts for its investment in I Health under the equity method of accounting as the Company has the ability to exercise significant influence, but not control over I Health’s operations. The purchase agreement includes a call option that allows the Company to purchase an additional 25% equity interest on each of the first, second and third anniversary of the purchase (“I Health Call Option”). The cash consideration was not paid on the closing date,

and was accrued and presented within accounts payable and accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets.

There was no impairment loss recorded related to equity method investments for the three months ended March 31, 2024 and 2023.