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 June 30, 2026 and December 31, 2025 was approximately $215.8 million and $209.8 million, respectively. No indicators of impairment were identified during the six months ended June 30, 2026.

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


	June 30, 2026				December 31, 2025
(Dollars in thousands)	Intangible Assets		Accumulated Amortization		Intangible Assets		Accumulated Amortization
Trade names	$	4,600	$	2,722	$	4,600	$	2,607
Consumer customer relationships	3,100		2,796		3,100		2,783
Management service agreement	2,200		1,478		2,200		1,409
Physician network	19,814		2,640		16,052		2,016
Payer contracts	172,762		14,269		167,443		9,978
MSO service agreement	51,800		11,717		51,800		10,483
	254,276		$	35,622	245,195		$	29,276
Less accumulated amortization	(35,622)				(29,276)
Intangible assets, net	$	218,654			$	215,919

The remaining weighted average life of all amortizable intangible assets is approximately 16.7 years at June 30, 2026.

Amortization expense for intangible assets was approximately $3.2 million and $2.4 million for the three months ended June 30, 2026 and 2025, respectively, and $6.3 million and $4.1 million for the six months ended June 30, 2026 and 2025, respectively.

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


	(Dollars in thousands)
Remainder of 2026	$	6,724
2027	13,449
2028	13,449
2029	13,449
2030	13,449
Thereafter	158,134
Total	$	218,654