Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions

Related Party Transactions

17. Related Party Transactions

PHC has a noncontrolling ownership interest in the Company. In addition, PHC has representation on the Company’s board of directors. The Company entered into a financing agreement with PHC on August 9, 2020 and entered into an exchange agreement with PHC during 2023 (see Note 12 for further discussion). Ascensia, through the ownership interests of its parent company, PHC, is a related party. Revenue from Ascensia during the six months ended June 30, 2024 and 2023 was $8.5 million and $7.5 million, respectively. We also purchase certain medical supplies from Ascensia for our clinical trials. We paid Ascensia $0.05 million and $0.3 million during the six months ended June 30, 2024 and 2023, respectively under this arrangement.

The amount due from Ascensia as of June 30, 2024 and December 31, 2023 was $3.1 million and $3.7 million, respectively. The amount due to Ascensia as of June 30, 2024 and December 31, 2023 was $1.2 million and $0.5 million, respectively.