Goodwill and Intangible Assets (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Goodwill |
The following table summarizes the carrying amounts of goodwill by segment at June 30, 2023 and December 31, 2022 (in thousands):
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June 30, 2023 |
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December 31, 2022 |
| Clinical Services |
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$ |
458,782 |
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$ |
458,782 |
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| Advanced Diagnostics |
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63,984 |
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|
63,984 |
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| Total |
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$ |
522,766 |
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$ |
522,766 |
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| Schedule of Classes of Intangible Assets |
Intangible assets consisted of the following (in thousands):
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June 30, 2023 |
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Amortization
Period (years) |
|
Cost |
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Accumulated
Amortization |
|
Net |
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| Customer Relationships |
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7 - 15 |
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$ |
143,101 |
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$ |
60,590 |
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$ |
82,511 |
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| Developed Technology |
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10 - 15 |
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310,226 |
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|
43,778 |
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266,448 |
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| Marketing Assets |
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4 |
|
549 |
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|
307 |
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|
242 |
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| Trademarks |
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15 |
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31,473 |
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4,272 |
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27,201 |
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| Trade Name |
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2.5 |
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2,584 |
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1,740 |
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|
844 |
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| Trademark - Indefinite lived |
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— |
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13,447 |
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— |
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13,447 |
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| Total |
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$ |
501,380 |
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$ |
110,687 |
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$ |
390,693 |
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December 31, 2022 |
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|
Amortization
Period (years) |
|
Cost |
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Accumulated
Amortization |
|
Net |
| Customer Relationships |
|
7 - 15 |
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$ |
143,101 |
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$ |
55,645 |
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$ |
87,456 |
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| Developed Technology |
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10 - 15 |
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310,226 |
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|
33,117 |
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277,109 |
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| Marketing Assets |
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4 |
|
549 |
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|
238 |
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|
311 |
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| Trademarks |
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15 |
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31,473 |
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3,223 |
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28,250 |
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| Trade Name |
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2.5 |
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2,584 |
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|
897 |
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1,687 |
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| Trademark - Indefinite lived |
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— |
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13,447 |
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— |
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13,447 |
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| Total |
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$ |
501,380 |
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$ |
93,120 |
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$ |
408,260 |
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| Schedule of Intangible Asset Amortization Expense |
The following table summarizes the amortization expense for the three and six months ended June 30, 2023 and 2022 (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Amortization of intangibles included in cost of revenue |
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$ |
4,853 |
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$ |
4,853 |
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$ |
9,706 |
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$ |
9,706 |
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| Amortization of intangibles included in general and administrative expenses |
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3,930 |
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|
3,637 |
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7,860 |
|
7,273 |
| Total amortization of intangibles |
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$ |
8,783 |
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$ |
8,490 |
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$ |
17,566 |
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$ |
16,979 |
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| Schedule of Estimated Amortization Expense |
The estimated amortization expense related to amortizable intangible assets for each of the following periods as of June 30, 2023 is as follows (in thousands):
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| Remainder of 2023 |
$ |
17,566 |
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| 2024 |
33,447 |
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| 2025 |
33,343 |
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| 2026 |
33,308 |
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| 2027 |
32,758 |
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| Thereafter |
226,824 |
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| Total |
$ |
377,246 |
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