Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

At December 31, 2023, intangible assets, net consisted of the following (in thousands):


	Useful Life (Years)	Gross January 1, 2023		Additions		Impairment/ Disposal		Gross December 31, 2023		Accumulated Amortization		Net December 31, 2023
Indefinite lived assets:
Trademarks	N/A	$	2,150	$	—	$	—	$	2,150	$	—	$	2,150
Amortized intangible assets:
Network relationships	11-21	150,679		—		—		150,679		(104,859)		45,820
Management contracts	15	22,832		—		—		22,832		(16,662)		6,170
Member relationships	10-14	16,633		7,444		—		24,077		(7,345)		16,732
Patient management platform	5	2,060		—		—		2,060		(2,060)		—
Tradename/trademarks	20	1,011		—		—		1,011		(308)		703
Developed technology	6	107		—		—		107		(34)		73
		$	195,472	$	7,444	$	—	$	202,916	$	(131,268)	$	71,648

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


	Useful Life (Years)	Gross January 1, 2022		Additions		Impairment/ Disposal		Gross December 31, 2022		Accumulated Amortization		Net December 31, 2022
Indefinite Lived Assets:
Trademarks	N/A	$	2,150	$	—	$	—	$	2,150	$	—	$	2,150
Amortized intangible assets:
Network relationships	11-21	150,679		—		—		150,679		(95,451)		55,228
Management contracts	15	22,832		—		—		22,832		(15,208)		7,624
Member relationships	12	8,997		7,636		—		16,633		(5,619)		11,014
Patient management platform	5	2,060		—		—		2,060		(2,060)		—
Tradename/trademarks	20	1,011		—		—		1,011		(257)		754
Developed technology	6	—		107		—		107		(16)		91
		$	187,729	$	7,743	$	—	$	195,472	$	(118,611)	$	76,861

As of December 31, 2023, network relationships, management contracts, member relationships, tradename/trademarks, and developed technology had weighted-average remaining useful lives of 9.4 years, 6.5 years, 11.1 years, 13.9 years, and 4.1 years respectively. Total weighted-average remaining useful lives for all amortized intangible assets as of December 31, 2023 was 9.6 years. Amortization expense was $12.7 million, $13.7 million and $15.4 million for the years ended December 31, 2023, 2022, and 2021, respectively, which is included in depreciation and amortization in the accompanying consolidated statements of income.

There was no impairment loss recorded related to intangibles for the years ended December 31, 2023, 2022 and 2021.

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


	Amount

2024	$	12,818
2025	11,661
2026	10,232
2027	8,794
2028	7,603
Thereafter	18,390
	$	69,498