During the year ended December 31, 2019, the Company completed five asset acquisitions. These asset acquisitions have been included in the anesthesia segment of the Company and represents the following:

The results of operations of the acquired entities have been included in the Company’s consolidated financial statements from the date of acquisition as the Company has control over these entities.

The following table summarizes the fair value of the consideration transferred and the allocated costs of the assets and liabilities acquired at the acquisition date.

	ACA			SMAA			CRAA			TSA			FPAA			Total
Cash	$	5,239,003		$	1,752,465		$	2,130,000		$	3,185,843		$	2,725,000		$	15,032,311
Acquisition costs		116,025			38,966			44,003			15,173			37,302			251,469
Deferred consideration		—			—			—			627,645			—			627,645
Pre-transaction equity interest		—			—			—			1,595,275			—			1,595,275
Purchase consideration	$	5,355,028		$	1,791,431		$	2,174,003		$	5,423,936		$	2,762,302		$	17,506,700
Non-controlling interest	$	—		$	1,465,716		$	2,088,748		$	5,211,233		$	2,653,976		$	11,419,673
	$	5,355,028		$	3,257,147		$	4,262,751		$	10,635,169		$	5,416,278		$	28,926,373
Assets and liabilities acquired:
Exclusive professional services agreements	$	5,355,028		$	3,257,147		$	4,262,751		$	8,891,711		$	5,416,278		$	27,182,915
Cash		—			—			—			115,397			—		$	115,397
Accounts receivable		—			—			—			1,950,219			—		$	1,950,219
Prepaid expenses and deposits		—			—			—			1,518			—		$	1,518
Trade payables and other accruals		—			—			—			(323,676	)		—		$	(323,676	)
Pre-close accounts receivable		50,000			—			—			—			—		$	50,000
Pre-close accounts payable		(50,000	)		—			—			—			—		$	(50,000	)
Fair value of net identifiable assets and liabilities acquired	$	5,355,028		$	3,257,147		$	4,262,751		$	10,635,169		$	5,416,278		$	28,926,373
Exclusive professional services agreements – amortization term	6 years			5 years			5 years			5 years			5 years
CRH ownership interest		100	%		55	%		51	%		51	%		51	%

The value of the acquired intangible assets, being exclusive professional services agreements, relate to the acquisition of exclusive professional services agreements to provide professional anesthesia services. The amortization term for the agreements is based upon contractual terms within the respective acquisition agreements and professional services agreements.

The non-controlling interest was determined with reference to the non-controlling interest shareholder’s share of the fair value of the net identifiable assets as estimated by the Company.

The Company has obtained control over the acquired assets via the Company’s majority ownership in the shares of the entities and its agreements with the non-controlling interest shareholders.

For those asset acquisitions where CRH ownership interest is less than 100%, in conjunction with the acquisition, both the Company and the non-controlling interest shareholder contributed loans. The terms of the loans are such that they will be repaid first, prior to any future distributions and are non-interest bearing.

	ACA		SMAA		CRAA		TSA		FPAA		Total
CRH member loan	$	—	$	55,000	$	63,750	$	—	$	71,400	$	190,150
Non-controlling interest member loan	$	—	$	45,000	$	61,250	$	—	$	68,600	$	174,850
Amount outstanding at December 31, 2019	$	—	$	—	$	—	$	—	$	140,000	$	140,000

In addition to the above asset acquisition, on April 3, 2019, a subsidiary of the Company entered into a membership interest purchase agreement to purchase the remaining 49% interest in Arapahoe Gastroenterology Anesthesia Associates LLC (“Arapahoe”); prior to the purchase the Company held a 51% interest in the Arapahoe entity. The purchase consideration, paid via cash, for the acquisition of the remaining 49% interest was $2,300,000 plus 49% of Arapahoe’s working capital as at March 31, 2019. Additionally, the Company incurred deferred acquisition costs of $26,086.

On August 31, 2019, a subsidiary of the Company entered into a membership interest purchase agreement to purchase the remaining 49% interest in Central Colorado Anesthesia Associates LLC (“CCAA”); prior to the purchase the Company held a 51% interest in the CCAA entity. The purchase consideration, paid via cash, for the acquisition of the remaining 49% interest was $7,000,000 plus 49% of CCAA’s working capital as at August 31, 2019. Additionally, the Company incurred deferred acquisition costs of $18,658.

In September 2019, the Company also received a payment of $4,366,000 in respect of the LWA acquisition which was a reduction in the purchase price. This payment served to reduce the value of the related LWA professional services contract intangible and did not modify ownership interest or the term of the LWA agreement.

On November 1, 2019, the Company acquired an additional 36% interest in Triad Sedation Associates LLC and Triad Support Services PLLC (collectively “TSA”). Prior to this transaction, the Company held a 15% interest in TSA and it was accounted for under the equity method. Upon completing the transaction CRH acquired control of TSA; the Company has consolidated the results of TSA from the date control was obtained, November 1, 2019. On conversion from an equity method investment to consolidation, CRH revalued its investment in TSA, resulting in a gain of $1,318,769. See note 10.

During the year ended December 31, 2018, the Company completed five asset acquisitions. These asset acquisitions have been included in the anesthesia segment of the Company and represents the following:

The results of operations of the acquired entities have been included in the Company’s consolidated financial statements from the date of acquisition as the Company has control over these entities.

The following table summarizes the fair value of the consideration transferred and the allocated costs of the assets and liabilities acquired at the acquisition date.

	SSA			WOSA			LWA			LESA			TVAA			Total
Cash	$	9,404,148		$	6,409,000		$	5,000,000		$	4,180,000		$	2,200,000		$	27,193,148
Acquisition Costs		91,036			74,698			41,939			53,115			55,875			316,663
Purchase consideration	$	9,495,184		$	6,483,698		$	5,041,939		$	4,233,115		$	2,255,875		$	27,509,811
Non-controlling interest	$	—		$	6,229,435		$	4,844,217		$	—		$	2,167,409		$	13,241,061
	$	9,495,184		$	12,713,133		$	9,886,156		$	4,233,115		$	4,423,284		$	40,750,872
Assets and liabilities acquired:
Exclusive professional services agreements	$	9,391,036		$	12,713,133		$	9,886,155		$	4,233,115		$	4,423,284		$	40,646,723
Prepaid expenses and deposits		104,149			—			—			—						104,149
Pre-close accounts receivable		—			—			652,506			—						652,506
Pre-close accounts payable		—			—			(652,506	)		—						(652,506	)
Fair value of net identifiable assets and liabilities acquired	$	9,495,185		$	12,713,133		$	9,886,155		$	4,233,115		$	4,423,284		$	40,750,872
Exclusive professional services agreements – amortization term	7 years			10 years			7 years			10 years			7 years
CRH ownership interest		100	%		51	%		51	%		100	%		51	%

The non-controlling interest was determined with reference to the non-controlling interest shareholder’s share of the fair value of the net identifiable assets as estimated by the Company.