Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible Assets, Net

At June 30, 2023, the Company’s intangible assets, net, consisted of the following (in thousands):

	Useful Life (Years)	Gross June 30, 2023		Accumulated Amortization		Net June 30, 2023
Indefinite lived assets:
Trademarks	N/A	$	2,150	$	—	$	2,150
Amortized intangible assets:
Network relationships	11-21	150,679		(100,244)		50,435
Management contracts	15	22,832		(15,982)		6,850
Member relationships	10-14	20,477		(6,302)		14,175
Patient management platform	5	2,060		(2,060)		—
Tradename/trademarks	20	1,011		(282)		729
Developed technology	6	107		(25)		82
		$	199,316	$	(124,895)	$	74,421

At December 31, 2022, the Company’s intangible assets, net, consisted of the following (in thousands):

	Useful Life (Years)	Gross December 31, 2022		Accumulated Amortization		Net December 31, 2022
Indefinite lived assets:
Trademarks	N/A	$	2,150	$	—	$	2,150
Amortized intangible assets:
Network relationships	11-21	150,679		(95,451)		55,228
Management contracts	15	22,832		(15,208)		7,624
Member relationships	12	16,633		(5,619)		11,014
Patient management platform	5	2,060		(2,060)		—
Tradename/trademarks	20	1,011		(257)		754
Developed technology	6	107		(16)		91
		$	195,472	$	(118,611)	$	76,861

For the three months ended June 30, 2023 and 2022, the Company recognized amortization expense of $3.3 million and $3.5 million, respectively, in depreciation and amortization on the accompanying consolidated statements of operations. For the six months ended June 30, 2023 and 2022, the Company recognized amortization expense of $6.3 million and $7.2 million, respectively, in depreciation and amortization on the accompanying consolidated statements of operations. The Company determined that there was no impairment of its finite-lived intangible or long-lived assets during the during the six months ended June 30, 2023 and 2022.

Future amortization expense is estimated to be as follows for the following years ending December 31 (in thousands):

	Amount
2023 (excluding the six months ended June 30, 2023)	$	6,157
2024	12,249
2025	11,171
2026	9,811
2027	8,430
Thereafter	24,453
Total	$	72,271