Company: PIII
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832511-25-000025
Chunk: 154

Company: P3 Health Partners Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 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 $0.1 million. An immaterial loss on disposal was recognized and is included in other income (expenses) in the Company’s condensed consolidated statements of operations.Net assets classified as held for sale for the Company’s remaining Florida operations are summarized as follows:September 30, 2025December 31, 2024(in thousands)Assets:Property and equipment, net$— $571 Intangible assets, net— 7,576 Other long-term assets— 314 Accumulated impairment— (8,058)Total assets$— $403 Liabilities:Accrued expenses and other current liabilities$— $56 Operating lease liability— 297 Total liabilities$— $353 Net assets$— $50 

P3 Health Partners Inc. | Q3 2025 Form 10-Q | 16

Note 7: Intangible AssetsIntangible assets, net consisted of the following:September 30, 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 (256,758)415,061 671,819 (206,951)464,868 Trademarks148,635 (57,353)91,282 148,635 (46,427)102,208 Payor contracts4,700 (1,763)2,937 4,700 (1,410)3,290 Provider network4,734 (1,802)2,932 4,734 (1,450)3,284 Total$830,588 $(317,676)$512