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Related Parties
12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Parties Related Parties
Transactions Notes Receivable
The Company enters into promissory notes with physicians of the Company. The notes receivable balances are satisfied through cash payments or settlements through the physicians’ compensation as part of their employee agreement. The notes receivable are amortized over a 60-month period as a reduction of compensation. The notes bear interest at the Company’s incremental borrowing rate (6.20% at December 31, 2024 and 7.18% at December 31, 2023, respectively).
As of December 31,
2024
As of
December 31,
2023
Original
Principal
Issue
Date
Maturity
Date
Notes receivable
Note 2*$100 $656 $5,355 5/1/20194/30/2024
Note 317 491 6/1/20195/31/2024
Note 81,587 2,081 2,816 5/1/20205/1/2025
Note 10743 310 7/12/20247/12/2029
Note 11510 250 9/20/20249/20/2029
Note 1292 100 10/1/202410/1/2027
Note 13242 250 10/14/202410/14/2031
Note 14288 300 10/31/20249/30/2026
Total notes receivables$3,562 $2,754 
Less:  Current portion of notes receivable$(2,197)$(1,604)
Notes receivable, less current portion$1,365 $1,150 
*The Company is in the process of extending maturity date for this note.
Leases
The Company has operating leases for ten of the office facilities owned by employees of the Company. Total cash was approximately $2.4 million, and $2.7 million paid for leases to related parties for the years ended December 31, 2024 and 2023, respectively.
Inventory Purchases/Concentration Risk
The Company purchases the majority of pharmaceuticals inventory from a subsidiary under common control of a Legacy AON Stockholder. During the years ended December 31, 2024 and 2023, the Company purchased from the related party approximately $1,493.6 million and $1,064.0 million respectively. These purchases were approximately 91% and 89% as a percentage of cost of revenue for the years ended December 31, 2024 and 2023 respectively. At December 31, 2024 and 2023, the Company had $156.0 million and $120.9 million, respectively, included in accounts payable for invoices from the related party, representing 91% and 95% of accounts payable at each period-end, respectively.