Equity Investment

6 Months Ended

Jun. 30, 2020

Equity Method Investment, Summarized Financial Information [Abstract]

As of June 30, 2020 and December 31, 2019, the Company owned a 43.6% non-controlling interest in Matrix. Affiliates of Frazier Healthcare Partners hold rights necessary to control the fundamental operations of Matrix. The Company accounts for this investment in Matrix under the equity method of accounting. The Company’s share of Matrix’s income or losses are recorded as “Equity in net (gain) loss of investee” in the accompanying condensed consolidated statements of operations and the investment basis is recorded as "Equity Investment" in the accompanying condensed consolidated balance sheets. During the year ended December 31, 2019, Matrix recorded asset impairment charges of $55,056. No impairment was recorded during the six months ended June 30, 2020.

The carrying amount of the assets included in the Company’s condensed consolidated balance sheets and the maximum loss exposure related to the Company’s interest in Matrix as of June 30, 2020 and December 31, 2019 totaled $131,974 and $130,869, respectively.

Summary financial information for Matrix on a standalone basis is as follows:


	June 30, 2020		December 31, 2019
Current assets	$	97,897	$	64,221
Long-term assets	630,009		631,007
Current liabilities	49,852		31,256
Long-term liabilities	361,529		351,380


	Three months ended June 30, 2020		Three months ended June 30, 2019
Revenue	$	90,667	$	72,161
Operating income	15,258		1,543
Net income (loss)	8,892		(3,661)

	Six months ended June 30, 2020		Six months ended June 30, 2019
Revenue	$	151,971	$	139,144
Operating income	13,585		2,098
Net income (loss)	2,535		(8,148)