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Business Combination and Goodwill (Tables) | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed, as of the acquisition date:
| Preliminary Balance Sheet
Assets acquired |
Cash and cash equivalents | $ | 3,568,554 |
Accounts receivable, net | 10,335,664 |
Other current assets | 2,004,649 |
Network relationship intangible assets | 29,858,000 |
Goodwill | 24,637,507 |
Accounts Payable | (2,273,753 | )
Deferred tax liabilities | (8,355,343 | )
Medical liabilities | (14,719,714 | )
Net assets acquired | $ | 45,055,564 |
Cash paid | $ | 45,055,564 |
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed, as of the acquisition date:
| Preliminary Balance Sheet
Assets acquired |
Cash and cash equivalents | $ | 581,965 |
Accounts receivable, net | 5,150,060 |
Other current assets | 198,056 |
Network relationship intangible assets | 11,411,000 |
Goodwill | 25,604,917 |
Accounts Payable | (2,993,325 | )
Deferred tax liabilities | (3,193,209 | )
Medical liabilities | (11,684,658 | )
Subordinated Loan | (15,408,138 | )
Net asset acquired | $ | 9,666,668 |
Equity investment contributed | $ | 2,416,668 |
Cash paid | $ | 7,250,000 |
Schedule of Carrying Value of Goodwill | The change in the carrying value of goodwill for the nine months ended September 30, 2019 is as follows;
Balance, January 1, 2019 | $ | 185,805,880 |
Acquisition of Alpha Care | 24,637,507 |
Acquisition of AMG | 1,086,468 |
Acquisition of Accountable Health Care | 25,604,917 |
Balance, September 30, 2019 | $ | 237,134,772 |

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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13854-109267 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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