Annual report pursuant to Section 13 and 15(d)

Related Parties

v3.24.1
Related Parties
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related Parties
Note 21: Related Parties
Atrio Health Plans
CPF, a principal equity holder of the Company, has an equity investment in Atrio Health Plans (“Atrio”). The Company has a full-risk capitation agreement in place with Atrio whereby the Company is delegated to perform services on behalf of Atrio’s members assigned to the Company. These delegated services include but are not limited to provider network credentialing, patient authorizations, and medical management (care management, quality management and utilization management). The following tables summarize the Company’s transactions with Atrio:
Year Ended December 31,
2023 2022
(in thousands)
Capitated revenue $ 192,577  $ 158,941 
Other patient service revenue $ 2,737  $ 2,286 
Medical expense $ 197,641  $ 178,300 
December 31,
2023 2022
(in thousands)
Health plan receivable $ 5,290  $ 177 
Claims payable $ 41,348  $ 27,838 
Health plan settlements payable $ 4,176  $ 2,536 
Deferred revenue (1)
$ 12,700  $ — 
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(1)Amount is included within accrued expenses and other current liabilities on the Company’s consolidated balance sheet.
VGS Promissory Note
As described in Note 11, in December 2022, the Company issued an unsecured promissory note to VGS, an entity managed by CPF and whose equity holders consist of two members of the Company’s Board of Directors and the Company’s Chief Executive Officer and Chief Medical Officer, among others. The following tables summarize the Company’s transactions with VGS:
Year Ended December 31,
2023 2022
(in thousands)
Interest expense, net $ 3,905  $ 105 
December 31,
2023 2022
(in thousands)
Long-term debt, net $ 28,319  $ 14,421 
Accrued interest $ 4,010  $ 105 
Accrued expenses $ 331  $ 225