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Investments in Other Entities | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Other Entities | Investments in Other Entities Equity Method For the twelve months ended December 31, 2023 and 2022, the Company’s equity method investment balance consisted of the following (in thousands):
| % of Ownership |  | December 31, 2022 |  |  |  | Initial Investment |  | Allocation of Net Income (Loss) |  |  | Funding |  | Adjustment of Fair Value* |  | Distribution |  | December 31, 2023
LaSalle Medical Associates – IPA Line of Business | 25% |  | $ | 5,684 |  |  |  |  | $ | — |  |  | $ | 4,182 |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 9,866 |
Pacific Medical Imaging & Oncology Center, Inc. | 40% |  | 1,878 |  |  |  |  | — |  |  | (187) |  |  |  | — |  |  | — |  |  | — |  |  | 1,691 |
531 W. College, LLC * | 50% |  | 17,281 |  |  |  |  | — |  |  | (508) |  |  |  | 700 |  |  | 91 |  |  | (17,564) |  |  | — |
One MSO, LLC * | 50% |  | 2,718 |  |  |  |  | — |  |  | 938 |  |  |  | — |  |  | 3,260 |  |  | (6,916) |  |  | — |
CAIPA MSO, LLC | 30% |  | 12,738 |  |  |  |  | — |  |  | 922 |  |  |  | — |  |  | — |  |  | — |  |  | 13,660 |
Other ** | 25% |  | — |  |  |  |  | 325 |  |  | 232 |  |  |  | — |  |  | — |  |  | — |  |  | 557 |
|  |  | $ | 40,299 |  |  |  |  | $ | 325 |  |  | $ | 5,579 |  |  |  | $ | 700 |  |  | $ | 3,351 |  |  | $ | (24,480) |  |  | $ | 25,774 |
* Investments deemed Excluded Assets that are solely for the benefit of APC and its common shareholders. These Excluded Assets were spun-off on December 26, 2023 as part of the Spin-Off. On the date of distribution, the investments were recorded at fair value. The gain, representing the difference between the fair value and the carrying value of the investment, was $3.4 million and is presented within other income in the accompanying consolidated statement of net income. Refer to Note 1 — “Description of Business” to the consolidated financial statements for information on the Spin-Off. ** Other consists of smaller equity method investments.
| % of Ownership |  | December 31, 2021 |  |  |  | Allocation of Net Income (Loss) |  | Funding Reclassified to Loan Receivable |  |  | Funding |  | Entity Consolidated |  | Distribution |  | December 31, 2022
LaSalle Medical Associates – IPA Line of Business | 25% |  | $ | 3,034 |  |  |  |  | $ | 4,775 |  |  | $ | (2,125) |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,684 |
Pacific Medical Imaging & Oncology Center, Inc. | 40% |  | 1,719 |  |  |  |  | 159 |  |  | — |  |  |  | — |  |  | — |  |  | — |  |  | 1,878 |
531 W. College, LLC * | 50% |  | 17,230 |  |  |  |  | (619) |  |  | — |  |  |  | 670 |  |  | — |  |  | — |  |  | 17,281 |
One MSO, LLC * | 50% |  | 2,910 |  |  |  |  | 408 |  |  | — |  |  |  | — |  |  | — |  |  | (600) |  |  | 2,718 |
Tag-6 Medical Investment Group, LLC* | 100% |  | 4,830 |  |  |  |  | 153 |  |  | — |  |  |  | 1,435 |  |  | (6,418) |  |  | — |  |  | — |
CAIPA MSO, LLC | 30% |  | 11,992 |  |  |  |  | 746 |  |  | — |  |  |  | — |  |  | — |  |  | — |  |  | 12,738 |
|  |  | $ | 41,715 |  |  |  |  | $ | 5,622 |  |  | $ | (2,125) |  |  |  | $ | 2,105 |  |  | $ | (6,418) |  |  | $ | (600) |  |  | $ | 40,299 |
* Investments deemed Excluded Assets that are solely for the benefit of APC and its common shareholders. These Excluded Assets were spun-off on December 26, 2023 as part of the Spin-off. Refer to Note 1 — “Description of Business” to the consolidated financial statements for information on the Spin-Off. Equity method investments are subject to impairment evaluation. There was no impairment loss recorded related to equity method investments for the years ended December 31, 2023, 2022, and 2021. Investments in privately held entities that do not report net asset value MediPortal, LLC In May 2018, APC purchased 270,000 membership interests of MediPortal LLC, a New York limited liability company, for $0.4 million or $1.50 per membership interest, which represented approximately 2.8% ownership interest. In connection with the initial purchase, APC received a five-year warrant to purchase an additional 270,000 membership interests. A five-year option to purchase an additional 380,000 membership interests and a five-year warrant to purchase 480,000 membership interests were contingent upon the portal completion date. These warrants and options were not exercised and are expired as of December 31, 2023. As APC does not have the ability to exercise significant influence, and lacks control over the investee, this investment is accounted for using a measurement alternative, which allows the investment to be measured at cost, adjusted for observable price changes and impairments, with changes recognized in net income. During the years ended December 31, 2023 and 2022, there were no observable price changes to APC’s investment. AchievaMed In July 2019, Astrana Health Management, Inc. (“AHM”), formerly known as Network Medical Management Inc., and AchievaMed, Inc., a California corporation (“AchievaMed”), entered into an agreement in which AHM would purchase 50% of the aggregate shares of capital stock of AchievaMed over a period of time not to exceed five years. As a result of this transaction, AHM invested $0.5 million for a 10% interest. The related investment balance of $0.5 million is included in investments in privately held entities in the accompanying consolidated balance sheets as of December 31, 2023. As AHM does not have the ability to exercise significant influence, and lacks control, over the investee, this investment is accounted for using a measurement alternative, which allows the investment to be measured at cost, adjusted for observable price changes and impairments, with changes recognized in net income. During the years ended December 31, 2023 and 2022, there were no observable price changes to AHM’s investment. Third Way Health, Inc. In August 2022, the Company entered into a Simple Agreement for Future Equity (“SAFE”) with Third Way Health, Inc. (“Third Way Health”). Based on certain triggering events defined in the SAFE, the Company has rights to Third Way Health’s shares. The number of shares to be acquired will be calculated when the triggered event occurs. As of December 31, 2023 and 2022, the related investment balance of $3.5 million and $1.5 million, respectively, is included in investments in privately held entities in the accompanying consolidated balance sheets. As the Company does not have the ability to exercise significant influence, and lacks control, over the investee, this investment is accounted for using a measurement alternative, which allows the investment to be measured at cost, adjusted for observable price changes and impairments, with changes recognized in net income. During the years ended December 31, 2023 and 2022, there were no observable price changes to the Third Way Health investment. Seen Health, Inc. On April 1, 2023, the Company entered into a SAFE with Seen Health, Inc. (“Seen Health”). Based on certain triggering events defined in the SAFE, the Company has rights to Seen Health’s shares. The number of shares to be acquired will be calculated when the triggering event occurs. As of December 31, 2023, the related investment balance of $2.0 million is included in investments in privately held entities in the accompanying consolidated balance sheets. As the Company does not have the ability to exercise significant influence, and lacks control, over the investee, this investment is accounted for using a measurement alternative, which allows the investment to be measured at cost, adjusted for observable price changes and impairments, with changes recognized in net income. During the year ended December 31, 2023, there were no observable price changes to the Seen Health investment.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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