EQUITY-METHOD INVESTMENTS

The Company’s two equity-method investments totaled $17.0 million and $17.0 million as of March 31, 2020 and December 31, 2019, respectively, and are included in other noncurrent assets in the accompanying condensed consolidated balance sheets. The Company’s related proportionate share of earnings is recorded in equity in earnings of joint ventures in the accompanying unaudited condensed consolidated statements of comprehensive income (loss). For the three months ended March 31, 2020 and 2019, the Company’s proportionate share of earnings in its investments was $0.6 million and $0.5 million, respectively.

Legacy Health Systems — The Company’s 50% ownership interest in this limited liability company, which provides infusion pharmacy services, expands the Company’s presence in the Portland, Oregon market. In 2005, Option Care’s initial cash investment in this joint venture was $1.3 million. The Company received a capital distribution from this investment of $0.5 million for the three months ended March 31, 2020. The Company did not receive a capital distribution from this investment for the three months ended March 31, 2019. The following presents condensed financial information as of March 31, 2020 and December 31, 2019 and for the three months ended March 31, 2020 and 2019 (in thousands).



Consolidated statements of comprehensive income (loss) data:
	Three Months Ended March 31,
	2020		2019
Net revenue	$	5,491	$	4,775
Cost of revenue	3,940		3,367
Gross profit	1,551		1,408
Net income	517		250
Equity in net income	258		125

Consolidated balance sheet data:
	As of
	March 31, 2020		December 31, 2019
Current assets	$	7,482	$	7,643
Noncurrent assets	3,615		3,846
Current liabilities	1,074		903
Noncurrent liabilities	579		659

Vanderbilt Health Services — The Company’s 50% ownership interest in this limited liability company, which provides infusion pharmacy services, expands the Company’s presence in the Nashville, Tennessee market. In 2009, Option Care contributed both cash and certain operating assets into the joint venture for a total initial investment of $1.1 million. The following presents condensed financial information as of March 31, 2020 and December 31, 2019 and for the three months ended March 31, 2020 and 2019 (in thousands).



Consolidated statements of comprehensive income (loss) data:
	Three Months Ended March 31,
	2020		2019
Net revenue	$	10,508	$	9,238
Cost of revenue	8,640		7,049
Gross profit	1,868		2,189
Net income	608		847
Equity in net income	304		424

Consolidated balance sheet data:
	As of
	March 31, 2020		December 31, 2019
Current assets	12,086		11,111
Noncurrent assets	1,862		2,033
Current liabilities	1,528		1,228
Noncurrent liabilities	852		956