Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 184

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 184
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,185)(11)Ending balance$10,185 $29 The Company recorded gains of $22.1 million and $0.4 million from changes in the fair value of stock warrants for the years ended December 31, 2024 and 2023, respectively.The book value of cash; clinic fees, insurance receivables, and other receivables; accounts payable; and accrued expenses and other current liabilities approximate fair value because of the short maturity and high liquidity of these instruments.

During the year ended December 31, 2024, the Company recorded a gain of $6.2 million reflecting the write-off and settlement of contingent consideration related to the Company’s 2021 acquisition of Medcore HP, a Level 3 fair value measurement, upon resolution with the sellers of the assumed claims payable and risk adjustment factor. The gain is included in corporate, general, and administrative expense in the consolidated statement of operations.

P3 Health Partners Inc. | 2024 Form 10-K | 95

Note 6: Property and EquipmentThe Company’s property and equipment balances consisted of the following as of:December 31,20242023(in thousands)Leasehold improvements$2,332 $2,933 Furniture & fixtures1,106 1,165 Computer equipment & software7,060 3,699 Medical equipment1,082 1,106 Software (development in process)343 3,877 Vehicles659 654 Other— 33 12,582 13,467 Less: accumulated depreciation(6,848)(4,781)Property and equipment, net$5,734 $8,686 Total depreciation of property and equipment recognized on the consolidated statements of operations was $2.4 million and $2.3 million for the years ended December 31, 2024 and 2023, respectively.Asset 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 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