XML 72 R58.htm IDEA: XBRL DOCUMENT v3.24.0.1
Acquisitions of Businesses, 2023 Acquisitions (Details)
$ in Thousands
12 Months Ended
Oct. 31, 2023
USD ($)
Sep. 29, 2023
USD ($)
Clinic
Installment
Jul. 31, 2023
USD ($)
Clinic
May 31, 2023
USD ($)
Clinic
Feb. 28, 2023
USD ($)
Clinic
Nov. 30, 2022
USD ($)
Clinic
Oct. 31, 2022
USD ($)
Clinic
Sep. 30, 2022
USD ($)
Clinic
Aug. 31, 2022
USD ($)
Clinic
Mar. 31, 2022
USD ($)
Clinic
Dec. 31, 2021
USD ($)
Clinic
Jun. 30, 2021
USD ($)
Clinic
Mar. 31, 2021
USD ($)
Clinic
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Business Combination, Description [Abstract]                              
Contingent payments                           $ 9,800 $ 8,300
Customer and Referral Relationships [Member]                              
Estimated fair value of net tangible assets acquired [Abstract]                              
Estimated useful lives of acquired intangibles                           12 years 12 years 2 months 12 days
Non-compete Agreements [Member]                              
Estimated fair value of net tangible assets acquired [Abstract]                              
Estimated useful lives of acquired intangibles                           5 years 1 month 6 days 5 years
Physical Therapy Operations [Member]                              
Business Combination, Description [Abstract]                              
Deferred payments                           $ 830  
Contingent payments                     $ 837     200  
Cash paid, net of cash acquired                           22,627  
Seller notes                     800     985  
Total consideration                     26,267     24,642  
Estimated fair value of net tangible assets acquired [Abstract]                              
Total current assets                     1,885     1,141  
Total non-current assets                     7,014     3,149  
Total liabilities                     (8,313)     (3,163)  
Net tangible assets acquired                     586     1,127  
Customer and referral relationships                     7,969     6,819  
Non-compete agreements                     415     329  
Tradenames                     2,144     1,680  
Goodwill                     27,109     25,521  
Fair value of non-controlling interest (classified as redeemable non-controlling interest)                     (11,956)     (10,834)  
Total consideration                     26,267     24,642  
IIP Business [Member]                              
Business Combination, Description [Abstract]                              
Percentage of interest acquired 100.00%                            
Deferred payments                           0  
Contingent payments                           0  
Cash paid, net of cash acquired                           3,955  
Seller notes                           0  
Total consideration                           3,955  
Estimated fair value of net tangible assets acquired [Abstract]                              
Total current assets                           392  
Total non-current assets                           335  
Total liabilities                           (41)  
Net tangible assets acquired                           686  
Customer and referral relationships                           757  
Non-compete agreements                           37  
Tradenames                           187  
Goodwill                           2,562  
Fair value of non-controlling interest (classified as redeemable non-controlling interest)                           (274)  
Total consideration                           3,955  
Ergonomics Software Business [Member]                              
Business Combination, Description [Abstract]                              
Percentage of interest acquired 55.00%                            
Percentage of interest retained by practice founder 45.00%                            
IIP and Ergonomics Software Business [Member]                              
Business Combination, Description [Abstract]                              
Aggregate purchase price for the acquisition $ 4,000                            
Acquisitions [Member]                              
Business Combination, Description [Abstract]                              
Deferred payments                           830  
Contingent payments                     3,357     200 $ 10,000
Cash paid, net of cash acquired                           26,582  
Seller notes                     2,050     985 1,574
Total consideration                     96,752     28,597 71,362
Estimated fair value of net tangible assets acquired [Abstract]                              
Total current assets                     7,473     1,533 1,329
Total non-current assets                     19,634     3,484 7,798
Total liabilities                     (13,155)     (3,204) (10,930)
Net tangible assets acquired                     13,952     1,813 (1,803)
Customer and referral relationships                     29,096     7,576 18,062
Non-compete agreements                     915     366 934
Tradenames                     7,285     1,867 5,445
Goodwill                     85,366     28,083 75,525
Fair value of non-controlling interest (classified as redeemable non-controlling interest)                     (39,862)     (11,108) (26,801)
Total consideration                     $ 96,752     28,597 $ 71,362
Clinic Practice [Member]                              
Business Combination, Description [Abstract]                              
Percentage of interest acquired     70.00% 75.00% 80.00% 80.00% 60.00% 80.00% 70.00% 70.00% 75.00% 65.00% 70.00%    
Number of clinics | Clinic     5 4 1 13 14 2 6 6 3 8 5    
Deferred payments     $ 300                        
Contingent payments             $ 9,800         $ 800   $ 1,600  
Percentage of ownership interest after the acquisition       45.00%                      
Percentage of ownership interest by local partner after the acquisition       30.00%                      
Percentage of interest retained by practice founder     30.00%   20.00% 20.00% 40.00% 20.00% 30.00% 30.00% 25.00%        
Percentage of pre-acquisition interest retained by practice founder       25.00%                      
Aggregate purchase price for the acquisition     $ 2,100 $ 3,100 $ 6,200 $ 25,000 $ 19,500 $ 4,200 $ 3,500 $ 11,500 $ 3,700 10,300 $ 12,000    
Cash paid by local partner       1,100                      
Seller note to be paid by entity       200                      
Seller note to be paid by local partner       100                      
Cash paid, net of cash acquired     $ 1,800 1,700 5,800 24,200   3,900 3,300 11,200 3,500 9,000 11,700    
Seller notes       $ 300 $ 400 $ 800   $ 300 $ 200 $ 300 $ 200 $ 300 $ 300    
Percentage of interest accrued         4.50% 7.00%   5.50% 5.50% 3.50% 3.25% 3.25% 3.25%    
September 2023 Multi Clinic Practice Acquisition [Member]                              
Business Combination, Description [Abstract]                              
Percentage of interest acquired   70.00%                          
Number of clinics | Clinic   4                          
Percentage of interest retained by practice founder   30.00%                          
Aggregate purchase price for the acquisition   $ 6,000                          
Cash paid, net of cash acquired   5,400                          
Seller notes   $ 600                          
Percentage of interest accrued   5.00%                          
Number of installments of payment of consideration due | Installment   2                          
September 2023 Multi Clinic Practice Acquisition [Member] | First Installment Due on January 31, 2024 [Member]                              
Business Combination, Description [Abstract]                              
Payment of principal and interest   $ 300                          
September 2023 Multi Clinic Practice Acquisition [Member] | Second Installment Due on September 30, 2025[Member]                              
Business Combination, Description [Abstract]                              
Payment of principal and interest   $ 300                          
September 2023 Single Clinic Practice Acquisition [Member]                              
Business Combination, Description [Abstract]                              
Percentage of interest acquired   70.00%                          
Number of clinics | Clinic   1                          
Deferred payments   $ 400                          
Percentage of interest retained by practice founder   30.00%                          
Aggregate purchase price for the acquisition   $ 7,800                          
Cash paid, net of cash acquired   $ 7,400