Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets, Net

As of June 30, 2024, the Company’s intangible assets, net consists of the following:

(in thousands)	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets
Amortizing intangible assets:
Payor contracts	13 years	$	22,191	$	(11,034)	$	11,157
Trade names	10 years	6,650		(2,921)		3,729
Clinical contracts and noncompete agreements	8 years	3,191		(1,720)		1,471
Total intangible assets		$	32,032	$	(15,675)	$	16,357

As of December 31, 2023, the Company’s intangible assets, net consists of the following:

(in thousands)	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets
Amortizing intangible assets:
Payor contracts	13 years	$	22,191	$	(10,014)	$	12,177
Trade names	10 years	6,650		(2,594)		4,056
Clinical contracts and noncompete agreements	8 years	3,191		(1,520)		1,671
Total intangible assets		$	32,032	$	(14,128)	$	17,904

Summary of Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for each of the five succeeding fiscal years as of June 30, 2024 is as follows:

(in thousands)	Amount
Year ending December 31:
2024 (remaining six months)	$	1,547
2025	3,091
2026	3,060
2027	2,933
2028	2,828
Thereafter	2,898
Total	$	16,357

Summary of Goodwill and Changes in the Carrying Amount of Goodwill

The goodwill allocated to each of the reporting units as of June 30, 2024 and December 31, 2023 is as follows:

(in thousands)	June 30, 2024		December 31, 2023
Patient services	$	2,679	$	2,679
Dispensary	4,551		4,551
Clinical trials & other	—		—
Total goodwill	$	7,230	$	7,230

The changes in the carrying amount of goodwill for the six months ended June 30, 2024 and for the year ended December 31, 2023 are as follows:

(in thousands)	June 30, 2024		December 31, 2023
Balance as of January 1	$	7,230	$	21,418
Goodwill acquired	—		2,679
Goodwill impairment charges (see Note 2 and Note 7)	—		(16,867)
The end of the period	$	7,230	$	7,230