Investments |
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| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | Investments The Company’s ownership interest and carrying amounts of investments as of June 30, 2025 and December 31, 2024 consist of the following:
Equity Investment without Readily Determinable Fair Value On October 25, 2024, the Company acquired non-marketable equity securities in Firefly Health, Inc. for $5,000,000. These investments are measured at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. During the three and six months ended June 30, 2025, no impairment losses or upward adjustments were recognized for the equity investments without readily determinable fair value. As of June 30, 2025, the Company’s investments in equity securities without readily determinable fair values totaled $5,000,000, and are included in investments on the unaudited Condensed Consolidated Balance Sheets. Equity Method Investments On October 26, 2021, the Company acquired a 50% interest in RND Health Services Inc. (“RND”) for $655,876. Subsequently, the Company made additional investments amounting to $310,450 and $298,932 in 2024 and 2023, respectively. No additional investments were made during the six months ended June 30, 2025. The Company’s carrying value in RND, an equity method investee, is reflected in investments on the unaudited Condensed Consolidated Balance Sheets. Changes in value of RND are recorded in loss on equity method investments on the Company’s unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. On November 1, 2021, the Company acquired a 20% interest in National Providers Association, LLC (“NPA”) for $30,000. Effective December 21, 2021, three members withdrew from NPA, resulting in the remaining two members obtaining the remaining ownership percentage. As of June 30, 2025 and December 31, 2024, the Company owned 50% of NPA. The Company’s carrying value in NPA, an equity method investee, is reflected in investments on the accompanying unaudited Condensed Consolidated Balance Sheets. Changes in value of NPA are recorded in loss on equity method investments on the Company’s unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. |
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