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Goodwill and Other Intangibles (Tables)
9 Months Ended
Sep. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill as of September 30, 2013 and December 31, 2012 were as follows:

 

     Gross
Amount
     Accumulated
Impairment
Losses
    Net
Carrying
Value
 

December 31, 2012

   $ 1,154,528       $ —        $ 1,154,528   

Reverse acquisition

     20,847,608         —          20,847,608   

Impairment charge

     —           (20,847,608     (20,847,608
  

 

 

    

 

 

   

 

 

 

September 30, 2013

   $ 22,002,136       $ (20,847,608   $ 1,154,528   
  

 

 

    

 

 

   

 

 

 
Changes in Carrying Amount of Intangible Assets

The carrying amount of intangible assets as of September 30, 2013 and December 31, 2012 follows:

 

     September 30,
2013
     December 31,
2012
 

Gross amount

   $ 11,791,500       $ 3,498,500   

Additions

     3,800,000         8,293,000   
  

 

 

    

 

 

 

Carrying value

   $ 15,591,500       $ 11,791,500   
  

 

 

    

 

 

 
Intangible Assets

Intangible assets as of September 30, 2013 and December 31, 2012 include the following:

 

     Useful
Life
(Years)
     September 30, 2013      December 31,
2012
Net
 
        Carrying
Value
     Accumulated
Amortization
    Net     

Management fee contracts

     2 – 8       $ 3,498,500       $ (1,626,320   $ 1,872,180       $ 2,202,858   

Non-compete

     5         1,825,000         (334,584     1,490,416         1,764,167   

Physician memberships

     7         6,468,000         (902,915     5,565,085         6,303,833   

Service contracts

     7         3,800,000         (110,600     3,689,400         —     
     

 

 

    

 

 

   

 

 

    

 

 

 

Total

      $ 15,591,500       $ (2,974,419   $ 12,617,081       $ 10,270,858   
     

 

 

    

 

 

   

 

 

    

 

 

 
Amortization Expense for Next Five Years Related to Intangible Assets

Amortization expense for the next five years related to these intangible assets is expected to be as follows:

 

Twelve months ended September 30,

  

2014

   $ 2,281,976   

2015

     2,266,727   

2016

     2,266,727   

2017

     2,266,727   

2018

     1,624,904