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Intangible Assets, Net
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
Intangible Assets, Net
At December 31, 2019, intangible assets, net consisted of the following:
 
Useful
Life
(Years)
 
Gross
January 1, 2019
 
Additions
 
Impairment/
Disposal
 
Gross
December 31, 2019
 
Accumulated
Amortization
 
Net
December 31, 2019
Indefinite Lived Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Medicare license
N/A
 
$
1,994,000

 
$

 
$
(1,994,000
)
 
$

 
$

 
$

Amortized Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Network relationships
11-15
 
109,883,000

 
34,047,000

 

 
143,930,000

 
(60,524,996
)
 
83,405,004

Management contracts
15
 
22,832,000

 

 

 
22,832,000

 
(9,676,381
)
 
13,155,619

Member relationships
12
 
6,696,000

 

 

 
6,696,000

 
(2,352,133
)
 
4,343,867

Patient management platform
5
 
2,060,000

 

 

 
2,060,000

 
(858,329
)
 
1,201,671

Tradename/trademarks
20
 
1,011,000

 

 

 
1,011,000

 
(105,312
)
 
905,688

 
 
 
$
144,476,000

 
$
34,047,000

 
$
(1,994,000
)
 
$
176,529,000

 
$
(73,517,151
)
 
$
103,011,849

At December 31, 2018, intangible assets, net consisted of the following:
 
Useful
Life
(Years)
 
Gross
January 1,
2018
 
Additions
 
Impairment/
Disposal
 
Gross
December 31, 2018
 
Accumulated
Amortization
 
Net
December 31, 2018
Indefinite Lived Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Medicare license
N/A
 
$
1,994,000

 
$

 
$

 
$
1,994,000

 
$

 
$
1,994,000

Amortized Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Network relationships
11-15
 
109,883,000

 

 

 
109,883,000

 
(48,361,773
)
 
61,521,227

Management contracts
15
 
22,832,000

 

 

 
22,832,000

 
(7,447,581
)
 
15,384,419

Member relationships
12
 
6,696,000

 

 

 
6,696,000

 
(1,289,667
)
 
5,406,333

Patient management platform
5
 
2,060,000

 

 

 
2,060,000

 
(446,333
)
 
1,613,667

Tradename/trademarks
20
 
1,011,000

 

 

 
1,011,000

 
(54,763
)
 
956,237

 
 
 
$
144,476,000

 
$

 
$

 
$
144,476,000

 
$
(57,600,117
)
 
$
86,875,883


Amortization expense was $16.3 million, $17.1 million and $17.5 million (including $0.3 million, $0.4 million and $0.4 million of amortization expense for exclusivity incentives) for the years ended December 31, 2019, 2018, and 2017, respectively, which is included in depreciation and amortization in the accompanying consolidated statements of income.
During the year ended December 31, 2019, the Company wrote off indefinite-lived intangible assets of $2.0 million related to Medicare licenses it acquired as part of the Merger. The Company will no longer utilize these licenses and as such the Company will not receive future economic benefits.
Future amortization expense is estimated to be as follows for the years ending December 31:
 
Amount
 
 
2020
$
16,026,000

2021
14,542,000

2022
12,673,000

2023
10,842,000

2024
9,830,000

Thereafter
39,099,000

 
 
 
$
103,012,000