Intangible Assets, Net

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

At March 31, 2019, the Company’s intangible assets, net, consisted of the following:

	Useful	Gross					Net
	Life	March 31,		Accumulated			March 31,
	(Years)	2019		Amortization			2019
Indefinite Lived Assets:
Medicare license	N/A	$	1,994,000	$	-		$	1,994,000
Amortized Intangible Assets:
Network relationships	11 - 15		109,883,000		(51,215,352	)		58,667,648
Management contracts	15		22,832,000		(8,031,971	)		14,800,029
Member relationships	12		6,696,000		(1,555,286	)		5,140,714
Patient management platform	5		2,060,000		(549,333	)		1,510,667
Tradename/trademarks	20		1,011,000		(67,400	)		943,600
		$	144,476,000	$	(61,419,342	)	$	83,056,658

At December 31, 2018, the Company’s intangible assets, net, consisted of the following:

	Useful	Gross					Net
	Life	December 31,		Accumulated			December 31,
	(Years)	2018		Amortization			2018
Indefinite Lived Assets:
Medicare license	N/A	$	1,994,000	$	-		$	1,994,000
Amortized Intangible Assets:
Network relationships	11 - 15		109,883,000		(48,361,773	)		61,521,227
Management contracts	15		22,832,000		(7,447,581	)		15,384,419
Member relationships	12		6,696,000		(1,289,667	)		5,406,333
Patient management platform	5		2,060,000		(446,333	)		1,613,667
Tradename/trademarks	20		1,011,000		(54,763	)		956,237
		$	144,476,000	$	(57,600,117	)	$	86,875,883

Included in depreciation and amortization on the accompanying condensed consolidated statements of income is amortization expense of $3.9 million and $4.4 million (excluding $0.1 million of amortization expense for exclusivity incentives) for the three months ended March 31, 2019 and 2018, respectively.

Future amortization expense is estimated to be as follows for the years ending December 31:

	Amount

2019 (excluding the three months ended March 31, 2019)	$	10,661,000
2020		12,671,000
2021		10,960,000
2022		9,448,000
2023		7,790,000
Thereafter		29,532,000

	$	81,062,000