Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.21.2
ACQUISITIONS (Tables)
 6 Months Ended
Jun. 30, 2021
Asset Acquisition [Line Items]  
SCHEDULE OF BUSINESS ACQUISITION, PRO FORMA INFORMATION

 

    2021     2020     2021     2020  
   

Three Months Ended

June 30,

    

Six Months Ended

June 30,

  
    2021     2020     2021     2020  
    ($ in thousands except per share amounts)  
Total revenue   $ 42,170     $ 29,997     $ 81,625     $ 66,267  
Net income (loss)   $ 193     $ (7,403 )   $ (618 )   $ (11,619 )
Net loss attributable to common shareholders   $ (3,445 )   $ (10,772 )   $ (7,384 )   $ (18,246 )
Net loss per common share   $ (0.24 )   $ (0.87 )   $ (0.52 )   $ (1.48 )

Acqisition 2021 [Member] | Meridian Billing Management Co [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

medSR Purchase Price      
    ($ in thousands)  
Cash   $ 12,261  
Amounts held in escrow     1,571  
Contingent consideration     6,500  
      -  
      -  
Total purchase price   $ 20,332  

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The preliminary purchase price allocation for medSR is summarized as follows:

 

    ($ in thousands)  
Accounts receivable   $ 2,705  
Receivable from seller     108  
Prepaid expenses     138  
Contract asset     2,402  
Property and equipment     94  
Operating lease right-of-use assets     -  
Customer relationships     4,500  
Technology     -  
Acquired backlog     500  
Trademark     -  
Software     -  
Goodwill     11,406  
Other long term assets     -  
Accounts payable     (505 )
Accrued expenses & compensation     (996 )
Current loan payable     -  
Operating lease liabilities     -  
Other current liabilities     -  
Deferred revenue     (20 )
Total preliminary purchase price allocation   $ 20,332  

Acqisition 2020 [Member] | Meridian Billing Management Co [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 

Meridian Purchase Price      
    ($ in thousands)  
Cash   $ 11,864  
Preferred stock     5,000  
Warrants     4,770  
Total purchase price   $ 21,634  

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

 

    ($ in thousands)  
Accounts receivable   $ 3,558  
Prepaid expenses     704  
Contract asset     881  
Property and equipment     426  
Operating lease right-of-use assets     2,776  
Customer relationships     12,900  
Technology     900  
Goodwill     13,789  
Accounts payable     (3,373 )
Accrued expenses & compensation     (3,932 )
Deferred revenue     (907 )
Operating lease liabilities     (6,025 )
Other current liabilities     (63 )
Total purchase price allocation   $ 21,634  

Acqisition 2020 [Member] | Care Cloud Health Inc [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 

CCH Purchase Price      
    ($ in thousands)  
Cash   $ 11,853  
Preferred stock     19,000  
Warrants     300  
Contingent consideration     1,000  
Total purchase price   $ 32,153  

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

 

    ($ in thousands)  
Accounts receivable   $ 2,299  
Prepaid expenses     1,278  
Contract asset     538  
Property and equipment     403  
Operating lease right-of-use assets     2,859  
Customer relationships     8,000  
Trademark     800  
Software     4,800  
Goodwill     22,868  
Other long term assets     540  
Accounts payable     (6,943 )
Accrued expenses     (2,081 )
Current loan payable     (80 )
Operating lease liabilities     (2,859 )
Deferred revenue     (269 )
Total purchase price allocation   $ 32,153