Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets, Net

As of September 30, 2023, the Company’s intangible assets, net consists of the following:

	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets
Amortizing intangible assets:
Payor contracts	13 years	$	22,191	$	(9,503)	$	12,688
Trade names	10 years	6,650		(2,431)		4,219
Clinical contracts and noncompete agreements	8 years	3,078		(1,424)		1,654
Total intangible assets		$	31,919	$	(13,358)	$	18,561

As of December 31, 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	$	(8,038)	$	11,362
Trade names	10 years	6,650		(1,941)		4,709
Clinical contracts and noncompete agreements	8 years	3,025		(1,139)		1,886
Total intangible assets		$	29,075	$	(11,118)	$	17,957

Summary of Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter as of September 30, 2023 is as follows:

(in thousands)	Amount
Year ending December 31:
2023 (remaining three months)	$	770
2024	3,078
2025	3,075
2026	3,050
2027	2,923
Thereafter	5,665
Total	$	18,561

Summary of Goodwill and Changes in the Carrying Amount of Goodwill

The goodwill allocated to each of the reporting units as of September 30, 2023 and December 31, 2022 is as follows:

(in thousands)	September 30, 2023		December 31, 2022
Patient services	$	2,679	$	16,235
Dispensary	4,551		4,551
Clinical trials & other	—		632
Total goodwill	$	7,230	$	21,418

The changes in the carrying amount of goodwill for the nine months ended September 30, 2023 and for the year ended December 31, 2022 are as follows:

(in thousands)	September 30, 2023		December 31, 2022
Balance as of January 1	$	21,418	$	26,626
Goodwill acquired	2,679		4,736
Goodwill impairment charges (see Note 2 and Note 7)	(16,867)		(9,944)
Balance, ending	$	7,230	$	21,418