Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets, Net

As of September 30, 2022, the Company’s intangible assets, net consists of the following:

(in thousands)	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets
Amortizing intangible assets:
Payor contracts	10 years	$	19,400	$	(7,566)	$	11,834
Trade names	10 years	6,650		(1,778)		4,872
Clinical contracts	9 years	3,001		(1,042)		1,959
Total intangible assets		$	29,051	$	(10,386)	$	18,665

As of December 31, 2021, the Company’s intangible assets, net consists of the following:

(in thousands)	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets
Amortizing intangible assets:
Payor contracts	10 years	$	19,400	$	(6,152)	$	13,248
Trade names	10 years	4,170		(1,350)		2,820
Clinical contracts	9 years	2,909		(732)		2,177
Total intangible assets		$	26,479	$	(8,234)	$	18,245

Summary of Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for each of the five succeeding fiscal years as of September 30, 2022 is as follows:

(in thousands)	Amount
Year ending December 31:
2022	$	732
2023	2,908
2024	2,908
2025	2,905
2026	2,879
Thereafter	6,333
Total	$	18,665

Summary of Goodwill and Changes in the Carrying Amount of Goodwill

The goodwill allocated to each of the reporting units as of September 30, 2022 and December 31, 2021 is as follows:

(in thousands)	September 30, 2022		December 31, 2021
Patient services	$	25,833	$	21,443
Dispensary	4,551		4,551
Clinical trials & other	632		632
Total goodwill	$	31,016	$	26,626

The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 and for the year ended December 31, 2021 are as follows:

(in thousands)	September 30, 2022		December 31, 2021
Balance as of January 1:
Gross goodwill	$	26,626	$	14,227
Goodwill acquired during the period	10,040		12,399
Goodwill corrected during the period (see Note 16)	(5,650)		—
Accumulated impairment losses	—		—
Goodwill, net as of September 30 and December 31	$	31,016	$	26,626