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Goodwill and Other Intangibles (Tables)
12 Months Ended
Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount Of Goodwill

Changes in the carrying amount of goodwill during the years ended December 31, 2014 and 2013 were as follows:

 

 

 

2014

 

 

2013

 

Balance, beginning of year

 

$

973,927

 

 

$

1,154,528

 

Reverse acquisition

 

 

 

 

 

21,864,781

 

Impairment charge

 

 

 

 

 

(21,864,781

)

Finalization of valuation - Imaging Centers

 

 

 

 

 

(180,601

)

Balance, end of year

 

$

973,927

 

 

$

973,927

 

 

Changes in Carrying Amount of Intangible Assets

Changes in the carrying amount of intangible assets during the years ended December 31, 2014 and 2013 were as follows:

 

 

 

Carrying

 

 

Accumulated

 

 

 

 

 

 

 

Amount

 

 

Amortization

 

 

Net

 

January 1, 2013

 

$

11,791,500

 

 

$

(1,520,642

)

 

$

10,270,858

 

Business Acquisition

 

 

2,733,000

 

 

 

 

 

 

2,733,000

 

Amortization

 

 

 

 

 

(1,865,237

)

 

 

(1,865,237

)

December 31, 2013

 

 

14,524,500

 

 

 

(3,385,879

)

 

 

11,138,621

 

Amortization

 

 

 

 

 

(2,058,226

)

 

 

(2,058,226

)

December 31, 2014

 

$

14,524,500

 

 

$

(5,444,105

)

 

$

9,080,395

 

 

Intangible Assets

Intangible assets as of December 31, 2014 and 2013 include the following:

 

 

 

 

 

2014

 

 

 

 

 

 

 

Useful

 

Carrying

 

 

Accumulated

 

 

 

 

 

 

2013

 

 

 

Life (Years)

 

Value

 

 

Amortization

 

 

Net

 

 

Net

 

Management fee contracts

 

6 - 8

 

$

3,498,500

 

 

$

(2,169,907

)

 

$

1,328,593

 

 

$

1,763,463

 

Non-compete

 

5

 

 

2,027,000

 

 

 

(849,667

)

 

 

1,177,333

 

 

 

1,583,256

 

Physician memberships

 

7

 

 

6,468,000

 

 

 

(2,002,000

)

 

 

4,466,000

 

 

 

5,390,000

 

Trade Name

 

5

 

 

381,000

 

 

 

(110,962

)

 

 

270,038

 

 

 

347,218

 

Service Contracts

 

10

 

 

2,150,000

 

 

 

(311,569

)

 

 

1,838,431

 

 

 

2,054,684

 

 

 

 

 

$

14,524,500

 

 

$

(5,444,105

)

 

$

9,080,395

 

 

$

11,138,621

 

 

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:

 

Year ended December 31,

 

 

 

 

2015

 

$

2,055,474

 

2016

 

 

2,055,474

 

2017

 

 

1,994,629

 

2018

 

 

1,226,387

 

2019

 

 

985,000

 

Thereafter

 

 

763,431