Property and Equipment, net

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and Equipment, net

The principal categories of property and equipment, net are summarized as follows (in thousands):

	Useful Life (years)	September 30,		December 31,
		2025		2024
Buildings and improvements	39	$	25,613	$	19,650
Land	—	6,537		4,410
Leasehold improvements	10-39	28,375		28,126
Construction in progress	—	1,764		1,892
Medical equipment	10	35,297		35,395
Office furniture and equipment	7	5,300		3,985
Computer hardware and software	5	7,750		7,579
Vehicles	5	94		95
Signage	10	2,121		2,072
Total cost		112,851		103,204
Less: accumulated depreciation		(30,030)		(25,271)
Total property and equipment, net		$	82,821	$	77,933

We consolidate two Real Estate Entities in the Company. We acquired one Real Estate Entity in the second quarter of 2025. Two of the three Real Estate Entities are VIEs. Refer to Note 18 – Variable Interest Entities.

Depreciation and amortization of property and equipment for the three months ended September 30, 2025 and 2024 totaled $1.7 million and $1.8 million, respectively, and for the nine months ended September 30, 2025 and 2024 totaled $5.1 million and $5.0 million, respectively.