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Fair Value Measurements of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of March 31, 2025, are presented below (in thousands):


		Fair Value Measurements
		Level 1				Level 2				Level 3				Total
Assets
Money market accounts*		$	2,755			$	—			$	—			$	2,755
Marketable securities – certificates of deposit			2,313				—				—				2,313
Marketable securities – equity securities			84				—				—				84
I Health call option			—				—				3,867				3,867
Total assets		$	5,152			$	—			$	3,867			$	9,019

Liabilities
Interest rate collar		$	—			$	21			$	—			$	21
AAMG contingent consideration			2,075				—				—				2,075
VOMG contingent consideration			—				—				15				15
Sun Labs remaining equity interest purchase			—				—				7,352				7,352
ADSC contingent consideration			—				—				4,309				4,309
CFC contingent consideration			—				—				11,170				11,170
PCCCV contingent consideration			—				—				1,450				1,450
CHS contingent consideration			—				—				5,741				5,741
Total liabilities		$	2,075			$	21			$	30,037			$	32,133

* Included in cash and cash equivalents

The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2024, are presented below (in thousands):


		Fair Value Measurements
		Level 1				Level 2				Level 3				Total
Assets
Money market accounts*		$	3,673			$	—			$	—			$	3,673
Marketable securities – certificates of deposit			2,289				—				—				2,289
Marketable securities – equity securities			89				—				—				89
I Health call options			—				—				3,778				3,778
Interest rate collar			—				19				—				19
Total assets		$	6,051			$	19			$	3,778			$	9,848

Liabilities
AAMG contingent consideration		$	2,110			$	—			$	—			$	2,110
VOMG contingent consideration			—				—				15				15
Sun Labs remaining equity interest purchase			—				—				7,352				7,352
ADSC contingent consideration			—				—				4,285				4,285
CFC contingent consideration			—				—				9,949				9,949
PCCCV contingent consideration			—				—				1,351				1,351
CHS contingent consideration			—				—				5,643				5,643
Total liabilities		$	2,110			$	—			$	28,595			$	30,705

* Included in cash and cash equivalents

Schedule of Change in Fair Value of Level 3 Liabilities

The change in the fair value of Level 3 liabilities is recognized in unrealized loss on investments, other income, or general and administrative expenses in the accompanying condensed consolidated statements of income. As of March 31, 2025, the reconciliation of our Level 3 liabilities was as follows (in thousands):


		Amount
Balance at January 1, 2025		$	28,595
Change in fair value of existing Level 3 liabilities			1,442
Balance at March 31, 2025		$	30,037

Schedule of Change in Fair Value on Equity Securities Held

The change in fair value on equity securities held are as follows (in thousands) for the periods listed below and no securities had been sold in the respective periods:


		Three Months Ended March 31,
		2025				2024
Unrealized gains (losses) recognized on equity securities held at end of period		$	5			$	(116	)