Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 11

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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 of the following:March 31, 2025December 31, 2024(in thousands)Leasehold improvements$2,391 $2,332 Furniture & fixtures1,066 1,106 Computer equipment & software7,064 7,060 Medical equipment1,050 1,082 Software (development in process)343 343 Vehicles633 659 Other32 — 12,579 12,582 Less: accumulated depreciation(7,271)(6,848)Property and equipment, net$5,308 $5,734 Total depreciation of property and equipment recognized on the condensed consolidated statements of operations was $0.6 million and $0.5 million for the three months ended March 31, 2025 and 2024, respectively.Assets Held for SaleOn November 30, 2024, the Company and certain of its subsidiaries (the “Sellers”) entered into an asset purchase agreement with certain entities affiliated with an entity in which Chicago Pacific Founders (“CPF”), the Company’s principal stockholder, has an ownership interest (the “Buyers”), which was amended on December 30, 2024, effective as of December 5, 2024 (as amended, the “Florida Asset Purchase Agreement”). Pursuant to the Florida Asset Purchase Agreement, the Sellers sold to the Buyers all of the assets, clinical and non-clinical, exclusively or primarily used by the Company’s MA-related business operated out of Eagle Park, Florida (the “Florida Assets”). The Company closed on the sale of the remaining Florida assets on May 1, 2025, see Note 15 “Subsequent Events” for additional information. 

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 14

Net assets classified as held for sale for the Company’s remaining Florida operations are summarized as follows:March 31, 2025December 31, 2024(in thousands)Assets:Property and equipment, net$571 $571 Intangible assets, net7,576 7,576 Other long-term assets314 314 Accumulated impairment(8,058)(8,058)Total assets$403 $403 Liabilities:Accrued expenses and other current liabilities$56 $56 Operating lease liability297 297 Total liabilities$353 $353 Net assets$50 $50 

Note 7: Intangible