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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 233,097 $ 193,470
Investment in marketable securities 53,417 67,695
Receivables, net 10,608 7,058
Receivables, net – related parties 69,376 49,260
Other receivables 9,647 4,297
Prepaid expenses and other current assets 18,637 16,797
Loan receivable - related party 4,000 0
Total current assets 398,782 338,577
Non-current assets    
Land, property and equipment, net 53,186 29,890
Intangible assets, net 82,807 86,985
Goodwill 253,039 239,053
Loans receivable 569 480
Loans receivable – related parties 0 4,145
Investments in other entities – equity method 41,715 43,292
Investments in privately held entities 896 37,075
Restricted cash 0 500
Operating lease right-of-use assets 15,441 18,574
Other assets 5,928 18,915
Total non-current assets 453,581 478,909
Total assets [1] 852,363 817,486
Current liabilities    
Accounts payable and accrued expenses 43,951 36,143
Fiduciary accounts payable 10,534 9,642
Medical liabilities 55,783 50,330
Income taxes payable 652 4,224
Dividend payable 556 485
Finance lease liabilities 486 102
Operating lease liabilities 2,629 3,177
Current portion of long-term debt 780 10,889
Total current liabilities 115,371 114,992
Non-current liabilities    
Deferred tax liability 9,127 10,959
Finance lease liabilities, net of current portion 973 311
Operating lease liabilities, net of current portion 13,198 15,865
Long-term debt, net of current portion and deferred financing costs 182,917 230,211
Other long-term liabilities 14,777 0
Total non-current liabilities 220,992 257,346
Total liabilities [1] 336,363 372,338
Commitments and contingencies (Note 14)
Mezzanine equity    
Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation (“APC”) 55,510 114,237
Stockholders’ equity    
Common stock, par value $0.001; 100,000,000 shares authorized,44,630,873and 42,249,137 shares outstanding, excluding 10,925,702 and 12,323,164 treasury shares, at December 31, 2021 and 2020, respectively 45 42
Additional paid-in capital 310,876 261,011
Retained earnings 143,629 69,771
Stockholders' equity attributable to parent 454,550 330,824
Non-controlling interest 5,940 87
Total stockholders’ equity 460,490 330,911
Total liabilities, mezzanine equity, and stockholders’ equity 852,363 817,486
Series A Preferred stock, par value $0.001; 5,000,000 shares authorized (inclusive of Series B Preferred stock); 1,111,111 issued and zero outstanding    
Stockholders’ equity    
Preferred stock 0 0
Series B Preferred stock, par value $0.001; 5,000,000 shares authorized (inclusive of Series A Preferred stock); 555,555 issued and zero outstanding    
Stockholders’ equity    
Preferred stock $ 0 $ 0
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated VIEs. The consolidated balance sheets include total assets that can be used only to settle obligations of the Company’s consolidated VIEs totaling $567.0 million and $576.1 million as of December 31, 2021 and December 31, 2020, respectively, and total liabilities of the Company’s consolidated VIEs for which creditors do not have recourse to the general credit of the primary beneficiary of $91.7 million and $88.6 million as of December 31, 2021 and December 31, 2020, respectively. These VIE balances do not include $802.8 million of investment in affiliates and $6.6 million of amounts due from affiliates as of December 31, 2021 and $225.1 million of investment in affiliates and $22.7 million of amounts due to affiliates as of December 31, 2020 as these are eliminated upon consolidation and not presented within the consolidated balance sheets. See Note 18 – “Variable Interest Entities (VIEs)” for further detail.