Company: PIII
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832511-25-000025
Chunk: 101

Company: P3 Health Partners Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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1,106 Computer equipment & software6,949 7,060 Medical equipment1,013 1,082 Software (development in process)— 343 Vehicles633 659 Other55 — 12,002 12,582 Less: accumulated depreciation(8,100)(6,848)Property and equipment, net$3,902 $5,734 Total depreciation of property and equipment recognized on the condensed consolidated statements of operations was $0.5 million and $0.6 million for the three months ended September 30, 2025 and 2024, respectively, and $1.7 million and $1.7 million for the nine months ended September 30, 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”). On May 1, 2025, the Company’s subsidiary, P3 Health Partners-Florida, LLC (“P3 Florida”), entered into an asset purchase agreement with Invictus Equity Group, LLC (“Invictus”) for the sale of the remaining assets previously held for sale. Pursuant to the asset purchase agreement, P3 Florida sold to Invictus the assets, clinical and non-clinical, exclusively or primarily used by the MA-related businesses operated out of Apollo Beach and Clearwater, Florida, for a purchase price of approximately $0.1 million. An immaterial loss on disposal was recognized and is included in other income (expenses) in the Company’s condensed consolidated statements of operations.Net assets classified as held for sale for the Company’s remaining Florida operations are summarized as follows:September 30, 2025December 31, 2024(in thousands)Assets:Property and equipment, net$— $571 Intangible assets, net— 7,576 Other long-term