Goodwill and Intangible Assets, Net

For the purposes of the goodwill impairment assessment, the Company as a whole is considered to be a reporting unit. The Company recognizes the excess of the purchase price, plus the fair value of any non-controlling interests in the acquiree, over the fair value of identifiable net assets acquired as goodwill. The Company performs a qualitative assessment on goodwill at least annually or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. If it is determined in the qualitative assessment that the fair value of a reporting unit is more likely than not below its carrying amount, then the Company will perform a quantitative impairment test. The quantitative goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. Any excess in the carrying value of a reporting unit’s goodwill over its fair value is recognized as an impairment loss, limited to the total amount of goodwill allocated to that reporting unit. The Company’s carrying value of goodwill at March 31, 2026 and December 31, 2025 was approximately $209.8 million for both periods. No indicators of impairment were identified during the three months ended March 31, 2026.

A summary of the Company’s intangible assets is as follows:


	March 31, 2026				December 31, 2025
(Dollars in thousands)	Intangible Assets		Accumulated Amortization		Intangible Assets		Accumulated Amortization
Trade names	$	4,600	$	2,664	$	4,600	$	2,607
Consumer customer relationships	3,100		2,790		3,100		2,783
Management service agreement	2,200		1,444		2,200		1,409
Physician network	16,052		2,312		16,052		2,016
Payer contracts	167,443		12,101		167,443		9,978
MSO service agreement	51,800		11,100		51,800		10,483
	245,195		$	32,411	245,195		$	29,276
Less accumulated amortization	(32,411)				(29,276)
Intangible assets, net	$	212,784			$	215,919

The remaining weighted average life of all amortizable intangible assets is approximately 17.2 years at March 31, 2026.

Amortization expense for intangible assets was approximately $3.1 million and $1.7 million for the three months ended March 31, 2026 and 2025, respectively.

Remaining estimated amortization expense for the Company’s intangible assets is as follows:


	(Dollars in thousands)
Remainder of 2026	$	9,405
2027	12,541
2028	12,541
2029	12,541
2030	12,541
Thereafter	153,215
Total	$	212,784