Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 69

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 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 AssetsIntangible assets, net consisted of the following:March 31, 2025December 31, 2024Gross CarryingAmountAccumulatedAmortizationNet CarryingAmountGross CarryingAmountAccumulatedAmortizationNet CarryingAmount(in thousands)Indefinite lived intangible assets:Medical licenses$700 $— $700 $700 $— $700 Definite lived intangible assets:      Customer relationships671,819 (223,553)448,266 671,819 (206,951)464,868 Trademarks148,635 (50,051)98,584 148,635 (46,427)102,208 Payor contracts4,700 (1,528)3,172 4,700 (1,410)3,290 Provider network4,734 (1,567)3,167 4,734 (1,450)3,284 Total$830,588 $(276,699)$553,889 $830,588 $(256,238)$574,350 Amortization of intangible assets was $20.5 million and $21.0 million during the three months ended March 31, 2025 and 2024, respectively.

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 15

Note 8: DebtLong-term DebtLong-term debt consisted of the following:March 31, 2025December 31, 2024(in thousands)Repurchase