Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

All American Medical Group & For Your Benefit, Inc.

The Company entered into a definitive agreement to acquire 100% of the fully diluted capitalization of All American Medical Group (“AAMG”) and For Your Benefit, Inc. (“FYB”), as well as certain related managed care assets. AAMG is a primary and specialty care physicians’ group focused on providing high-quality, culturally competent care to local communities in the San Francisco Bay Area. FYB is affiliated with AAMG and is licensed by the California Department of Managed Health Care as a full-service Restricted Knox-Keene licensed health plan, which enables FYB to assume full financial responsibility, including both professional and institutional risk, for the medical costs of its members under the Knox-Keene Health Care Service Plan Act of 1975. On October 31,2022, the Company closed its transaction with AAMG and the purchase was paid in cash.

Valley Oaks Medical Group

The Company entered into a definitive agreement to acquire 100% of the capital stock of Valley Oaks Medical Group (“VOMG”) and assets relating to nine primary care clinics in Nevada and Texas. VOMG provides high-quality, value-based primary care services to its local communities and serves over 20,000 patients, including approximately 6,000 Medicare members. On October 14, 2022, the Company closed its transaction with VOMG and the purchase was paid in cash.