Post-effective amendment to a registration statement that is not immediately effective upon filing

Business Combinations (Tables)

v3.22.2.2
Business Combinations (Tables) - P3 Health Partners Inc.
6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Business Acquisition [Line Items]    
Summary of future consolidated results of operations

Six Months Ended

June 30,

2021

    

(Unaudited)

Total Operating Revenue

$

369,698,137

Net Profit

$

(173,796,294)

Net Loss Attributable to Non-controlling Interest

$

(143,555,739)

Net Loss Attributable to Controlling Interest

$

(30,240,555)

    

Year Ended

    

Year Ended

December 31, 

December 31, 

2021

2020

(Unaudited)

(Unaudited)

Total Operating Revenue

$

793,447,211

$

615,487,335

Net Loss

$

(259,282,984)

$

(198,926,617)

Net Loss Attributable to Non-controlling Interest

$

(214,167,745)

$

(164,313,386)

Net Loss Attributable to Controlling Interest

$

(45,115,239)

$

(34,613,231)

P3 Llc    
Business Acquisition [Line Items]    
Summary of purchase consideration

    

Successor

December 31,

Foresight

2021

Equity

$

80,300,733

Fair Value of Non-controlling Interest

 

1,807,427,576

Stock Compensation Pre-combination Services

26,313,476

Cash Consideration

 

18,405,083

Payment of P3 Health Group Holdings, LLC’s Transaction Costs

 

19,151,752

Total Purchase Consideration

$

1,951,598,620

    

Successor

December 31, 

2021

Foresight

Equity

$

80,300,733

Fair Value of Non-controlling Interest

1,807,427,576

Stock Compensation Pre-combination Services

 

26,313,476

Cash Consideration

18,405,083

Payment of P3 Health Group Holdings, LLC’s Transaction Costs

19,151,752

Total Purchase Consideration

$

1,951,598,620

Summary of purchase price allocation to assets and liabilities

Purchase Price Allocation

    

Amounts

Assets Acquired:

Cash

$

5,300,842

Restricted Cash

 

54,095

Health Plan Settlement Receivables

 

47,733,033

Clinic Fees and Insurance Receivables, Net

 

426,064

Other Receivables

 

1,880,939

Prepaid Expenses and Other Current Assets

 

938,413

Property and Equipment, Net

 

7,875,234

Intangible Assets, Net:

 

  

Customer Relationships

 

684,000,000

Provider Network

 

3,700,000

Trademarks

 

147,700,000

Goodwill

 

1,278,452,778

Notes Receivable

 

3,734,012

Right of Use Assets

 

6,870,279

Total Assets Acquired

$

2,188,665,689

Liabilities Assumed:

 

  

Accounts Payable and Accrued Expenses

$

25,819,091

Accrued Payroll

 

2,868,664

Health Plans Settlements Payable

 

25,007,542

Claims Payable

 

76,031,460

Premium Deficiency Reserve

 

11,559,067

Accrued Interest

 

9,268,846

Current Portion of Long-Term Debt

 

301,443

Lease Liability

 

6,210,956

Long-Term Debt, Net of Current Portion

 

80,000,000

Total Liabilities Assumed

$

237,067,069

Net Assets Acquired

$

1,951,598,620

Assets Acquired:

Cash

    

$

5,300,842

Restricted Cash

54,095

Health Plan Settlement Receivables

47,733,033

Clinic Fees and Insurance Receivables, Net

426,064

Other Receivables

1,880,939

Prepaid Expenses and Other Current Assets

938,413

Property and Equipment, Net

7,875,234

Intangible Assets, Net:

Customer Relationships

684,000,000

Provider Network

3,700,000

Trademarks

147,700,000

Goodwill

1,278,452,778

Notes Receivable, Net

3,734,012

Right of Use Assets

6,870,279

Total Assets Acquired

2,188,665,689

Liabilities Assumed:

Accounts Payable and Accrued Expenses

25,819,091

Accrued Payroll

2,868,664

Health Plans Settlements Payable

25,007,542

Claims Payable

76,031,460

Premium Deficiency Reserve

11,559,067

Accrued Interest

9,268,846

Current Portion of Long-Term Debt

301,443

Lease Liability

6,210,956

Long-Term Debt, Net of Current Portion

80,000,000

Total Liabilities Assumed

237,067,069

Net Assets Acquired

$

1,951,598,620

Medcore Health Plan, Inc and Omni IPA Medical Group, Inc ("Medcore Acquisition")    
Business Acquisition [Line Items]    
Summary of purchase price allocation to assets and liabilities

Purchase Price Allocation

    

Successor Period

  

  

Predecessor Period

Assets Acquired:

Cash

$

20,547,337

$

3,000

Restricted Cash

 

302,187

 

Health Plan Settlement Receivables

 

5,754,006

 

Clinic Fees and Insurance Receivables, Net

 

141,186

 

Other Receivables

 

726,378

 

Prepaid Expenses and Other Current Assets

 

1,189,575

 

Property and Equipment, Net

 

113,436

 

5,896

Intangible Assets, Net:

 

 

Customer Relationships

 

 

2,045,604

Pay or Contracts

 

4,700,271

 

Provider Network

 

1,100,000

 

Trademarks

 

900,000

 

Medical Licenses

 

700,000

 

Goodwill

 

31,297,438

 

2,934,500

Total Assets Acquired

$

67,471,814

$

4,989,000

Liabilities Assumed:

 

  

 

  

Accounts Payable and Accrued Expenses

$

150,196

$

Accrued Payroll

 

277,074

 

Health Plans Settlements Payable

 

133,149

 

Claims Payable

 

26,898,074

 

Total Liabilities Assumed

 

27,458,493

 

Net Assets Acquired

$

40,013,321

$

4,989,000

Successor

Predecessor

    

Period

  

  

Period

Assets Acquired:

 

  

Cash

$

20,547,337

$

3,000

Restricted Cash

 

302,187

 

Health Plan Settlement Receivables

 

5,754,006

 

Clinic Fees and Insurance Receivables, Net

 

141,186

 

Other Receivables

 

726,378

 

Prepaid Expenses and Other Current Assets

 

1,189,575

 

Property and Equipment, Net

 

113,436

 

5,896

Intangible Assets, Net:

 

  

 

Customer Relationships

 

 

2,045,604

Payor Contracts

4,700,271

Provider Network

 

1,100,000

 

Trademarks

 

900,000

 

Medical Licenses

 

700,000

 

Goodwill

 

31,297,438

 

2,934,500

Total Assets Acquired

 

67,471,814

 

4,989,000

Liabilities Assumed:

 

  

 

Accounts Payable and Accrued Expenses

 

150,196

 

Accrued Payroll

 

277,074

 

Health Plans Settlements Payable

 

133,149

 

Claims Payable

 

26,898,074

 

Total Liabilities Assumed

 

27,458,493

 

Net Assets Acquired

$

40,013,321

$

4,989,000