Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets, Net

As of December 31, 2023, 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	13 years	$	22,191	$	(10,014)	$	12,177
Trade names	10 years	6,650		(2,594)		4,056
Clinical contracts and noncompetes	8 years	3,191		(1,520)		1,671
Total intangible assets		$	32,032	$	(14,128)	$	17,904

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 noncompetes	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 as of December 31, 2023 is as follows:

(in thousands)	Amount
Year ending December 31:
2024	$	3,078
2025	3,075
2026	3,050
2027	2,923
2028	2,818
Thereafter	2,960
Total	$	17,904

Summary of Goodwill and Changes in the Carrying Amount of Goodwill

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

(in thousands)	December 31, 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 amounts of goodwill for the year ended December 31, 2023 and December 31, 2022 are as follows:

(in thousands)	December 31, 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)	(16,867)		(9,944)
Goodwill, net as of December 31	$	7,230	$	21,418