Property and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

The principal categories of property and equipment are summarized as follows:

	Useful Life (years)	December 31,
		2024		2023
Buildings and improvements	39	$	19,649,963	$	9,878,325
Land	—	4,409,840		4,401,888
Leasehold improvements	10-39	28,125,596		27,606,383
Construction in progress	—	1,892,598		12,845,631
Medical equipment	10	35,395,123		33,519,026
Office furniture and equipment	7	3,984,921		3,698,874
Computer hardware and software	5	7,578,978		6,066,520
Vehicles	5	94,581		135,590
Signage	10	2,072,428		1,576,475
Total cost		103,204,028		99,728,712
Less: accumulated depreciation		(25,271,284)		(18,341,063)
Total property and equipment, net		$	77,932,744	$	81,387,649

We deconsolidated 17 Real Estate Entities in 2022 and one Real Estate Entity in 2023. Refer to Note 19.

Depreciation and amortization of property and equipment for the years ended December 31, 2024, 2023 and 2022 totaled $6.6 million, $6.0 million and $4.9 million, respectively.

Due to the closures of four facilities, we recorded an impairment loss of $3.8 million for the year ended December 31, 2023 as the carrying value of the fixed assets associated with the facilities exceeded the fixed assets’ fair value.