| Equity Method Investments |
Rollforward of Equity Method Investment (in thousands)
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December 31,
2020 |
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Initial Investment |
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Allocation of Income (Loss) |
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Contribution |
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Entity Consolidated |
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Sale |
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September 30, 2021 |
| LaSalle Medical Associates – IPA Line of Business |
$ |
13,047 |
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$ |
— |
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$ |
(4,654) |
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$ |
— |
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$ |
— |
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$ |
(4,182) |
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$ |
4,211 |
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| Pacific Medical Imaging & Oncology Center, Inc. |
1,413 |
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— |
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129 |
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— |
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— |
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— |
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1,542 |
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| Diagnostic Medical Group |
2,613 |
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— |
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330 |
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— |
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— |
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— |
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2,943 |
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| 531 W. College, LLC – related party |
17,200 |
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— |
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(149) |
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— |
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— |
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— |
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17,051 |
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| One MSO, LLC – related party |
2,395 |
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— |
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379 |
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— |
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— |
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— |
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2,774 |
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| Tag-6 Medical Investment Group, LLC – related party |
4,516 |
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— |
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240 |
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— |
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— |
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— |
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4,756 |
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| Tag-8 Medical Investment Group, LLC – related party |
2,108 |
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— |
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— |
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1,660 |
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(3,768) |
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— |
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— |
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| CAIPA MSO, LLC |
— |
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11,724 |
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45 |
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— |
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— |
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— |
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11,769 |
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$ |
43,292 |
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$ |
11,724 |
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$ |
(3,680) |
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$ |
1,660 |
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$ |
(3,768) |
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$ |
(4,182) |
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$ |
45,046 |
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LMA’s summarized balance sheets at September 30, 2021 and December 31, 2020, and summarized statements of operations for the nine months ended September 30, 2021 and 2020, with respect to its IPA line of business are as follows (in thousands):
Balance Sheets
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September 30,
2021 |
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December 31,
2020 |
Assets |
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Cash and cash equivalents |
$ |
2,150 |
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$ |
9,350 |
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| Restricted cash |
695 |
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691 |
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Receivables, net |
6,178 |
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3,918 |
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Other current assets |
— |
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881 |
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Loan receivable |
2,250 |
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2,250 |
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Total assets |
$ |
11,273 |
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$ |
17,090 |
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| Liabilities and Stockholders’ Deficit |
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Current liabilities |
$ |
27,141 |
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$ |
21,589 |
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Stockholders’ deficit |
(15,868) |
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(4,499) |
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Total liabilities and stockholders’ deficit |
$ |
11,273 |
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$ |
17,090 |
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Statements of Operations
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Nine Months Ended September 30, |
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2021 |
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2020 |
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Revenues |
$ |
144,417 |
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$ |
138,490 |
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Expenses |
155,786 |
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138,233 |
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| Net (loss) income |
$ |
(11,369) |
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$ |
257 |
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531 W. College LLC’s balance sheets at September 30, 2021 and December 31, 2020, and statements of operations for the nine months ended September 30, 2021 and 2020, are as follows (in thousands):
Balance sheets
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September 30,
2021 |
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December 31,
2020 |
Assets |
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Cash |
$ |
266 |
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$ |
648 |
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Other current assets |
25 |
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17 |
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Other assets |
122 |
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70 |
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Property and equipment, net |
33,689 |
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33,697 |
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Total assets |
$ |
34,102 |
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$ |
34,432 |
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Liabilities and Members’ Equity |
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Current liabilities |
$ |
— |
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$ |
32 |
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Stockholders’ equity |
34,102 |
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34,400 |
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Total liabilities and members’ equity |
$ |
34,102 |
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$ |
34,432 |
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Statements of Operation
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Nine Months Ended September 30, |
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2021 |
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2020 |
Revenues |
$ |
181 |
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$ |
— |
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Expenses |
476 |
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|
828 |
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Loss from operations |
(295) |
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(828) |
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Other income |
— |
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32 |
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| Provision for income tax |
2 |
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3 |
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Net loss |
$ |
(297) |
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$ |
(799) |
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