Borrowings and Capital Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Short-Term Debt Obligations

The Company’s short-term debt obligations as of December 31, 2014 and 2013 are as follows:

	Rate (1)	2014		2013
Note payable - Legacy		$	—	$	2,814,027
Note payable - S&H leasing			—		1,865,600
Note payable - working capital			—		800,000
Insurance premium financings	3.9 - 4.9%		456,784		101,135
Note payable - Medicare cost report			—		84,065
Short-term debt		$	456,784	$	5,664,827

(1) Effective rate as of December 31, 2014

Schedule of Applicable Margins Rate

The Applicable Margins are as follows:

	Applicable Margin
Senior Debt Ratio	Revolving Loan	Term Loan
≥ 2.5x	3.75%	4.25%
< 2.5x, but ≥ 2.0x	3.25%	3.75%
< 2.0 x	2.75%	3.25%

Future Maturities of Long-Term Debt

At December 31, 2014, future maturities of long-term debt were as follows:

Year ended December 31:
2015	$	5,023,048
2016		4,781,929
2017		4,613,541
2018		4,604,681
2019		4,625,161
Thereafter		6,112,407

Continuing Operations

Schedule of Borrowings and Capital Lease Obligations

The Company’s long-term debt and capital lease obligations as of December 31, 2014 and 2013 are as follows:

	Rate (1)		Maturity Date	2014			2013
Senior Lender:
Note payable		4.4%	Jul. 2021	$	25,750,000		$	—
Other Lenders:
Line of credit					—			896,000
Notes payable - working capital					—			3,715,088
Note payable - equity investments					—			3,270,427
Note payable - management agreements					—			640,466
Note payable - assumption					—			146,857
Note payable - preferred interest redemption					—			5,100,000
Note payable - settlements					—			1,189,725
Note payable - THE					—			311,149
Notes payable - physician partners					—			103,604
Notes payable - acquisition					—			99,610
Capital Lease Obligations	5.5 - 10.7%		Feb. 2015 - Dec. 2020		4,010,767			2,477,985
Total					29,760,767			17,950,911
Less: Current portion of long-term debt					(5,023,048	)		(7,919,179	)
Long-term debt				$	24,737,719		$	10,031,732

(1) Effective rate as of December 31, 2014