v3.25.4
Intangible Assets, Net
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
5.
Intangible Assets, Net

At December 31, 2025, intangible assets, net consisted of the following (in thousands):

 

Useful
Life
(Years)

 

Gross
January 1, 2025

 

 

Additions

 

 

Impairment/
Disposal

 

 

Gross
December 31, 2025

 

 

Accumulated
Amortization

 

 

Net
December 31, 2025

 

Indefinite lived assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and licenses

 

N/A

 

$

4,050

 

 

$

1,900

 

 

$

—

 

 

$

5,950

 

 

$

—

 

 

$

5,950

 

Amortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network relationships

 

10–21

 

 

171,917

 

 

 

53,800

 

 

 

—

 

 

 

225,717

 

 

 

(125,359

)

 

 

100,358

 

Member relationships

 

7–14

 

 

73,077

 

 

 

123,500

 

 

 

—

 

 

 

196,577

 

 

 

(47,908

)

 

 

148,669

 

Other (1)

 

3–20

 

 

26,010

 

 

 

14,300

 

 

 

—

 

 

 

40,310

 

 

 

(24,319

)

 

 

15,991

 

 

 

 

$

275,054

 

 

$

193,500

 

 

$

—

 

 

$

468,554

 

 

$

(197,586

)

 

$

270,968

 

(1)
Other consists of management contracts, a patient management platform, trade name/trademarks, and developed technology.

At December 31, 2024, intangible assets, net consisted of the following (in thousands):

 

Useful
Life
(Years)

 

Gross
January 1, 2024

 

 

Additions

 

 

Impairment/
Disposal

 

 

Gross
December 31, 2024

 

 

Accumulated
Amortization

 

 

Net
December 31, 2024

 

Indefinite lived assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and licenses

 

N/A

 

$

2,150

 

 

$

1,900

 

 

$

—

 

 

$

4,050

 

 

$

—

 

 

$

4,050

 

Amortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network relationships

 

10–21

 

 

150,679

 

 

 

21,238

 

 

 

—

 

 

 

171,917

 

 

 

(114,046

)

 

 

57,871

 

Member relationships

 

7–14

 

 

24,077

 

 

 

49,000

 

 

 

—

 

 

 

73,077

 

 

 

(22,406

)

 

 

50,671

 

Other (1)

 

5–20

 

 

26,010

 

 

 

—

 

 

 

—

 

 

 

26,010

 

 

 

(20,423

)

 

 

5,587

 

 

 

 

$

202,916

 

 

$

72,138

 

 

$

—

 

 

$

275,054

 

 

$

(156,875

)

 

$

118,179

 

(1)
Other consists of management contracts, a patient management platform, trade name/trademarks, and developed technology.

As of December 31, 2025, network relationships, management contracts, member relationships, tradename/trademarks, and developed technology had weighted-average remaining useful lives of 12.0 years, 8.2 years, 18.9 years, 5.6 years, and 2.1 years, respectively. Total weighted average remaining useful lives for all amortized intangible assets as of December 31, 2025 was 15.6 years. Amortization expense was $40.7 million, $25.6 million, and $12.7 million for the years ended December 31, 2025, 2024, and 2023, respectively, which is included in depreciation and amortization in the accompanying consolidated statements of income.

There was no impairment loss recorded related to intangibles for the years ended December 31, 2025, 2024, and 2023.

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

 

 

Amount

 

2026

 

$

55,108

 

2027

 

 

44,125

 

2028

 

 

35,715

 

2029

 

 

28,621

 

2030

 

 

21,687

 

Thereafter

 

 

79,762

 

 

$

265,018