Annual report pursuant to Section 13 and 15(d)

Related Parties

v3.23.1
Related Parties
12 Months Ended
Dec. 31, 2022
Related Parties  
Related Parties

Note 22: Related Parties

Atrio Health Plans

Chicago Pacific Founders (“CPF”), a principal equity holder of P3 LLC, 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:

Successor

  

  

Predecessor

    

Year Ended

    

December 3, 2021

January 1, 2021

December 31,

through December 31,

through December 2,

2022

 2021

  

  

 2021

Capitated revenue

$

158,941

$

11,483

$

142,905

Other patient service revenue

$

2,286

$

181

$

2,022

Medical expenses

$

178,300

$

14,684

$

146,216

    

December 31,

2022

    

2021

Health plan receivables

$

177

$

4,696

Claims payable

$

27,838

$

16,349

Health plan settlements payable

$

2,536

$

Unsecured Promissory Note

As described in Note 12, 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,

2022

Interest expense, net

$

105

    

December 31, 2022

Long-term debt, net

$

14,421

Accrued interest

$

105

Accrued expenses

$

225