| Goodwill & Intangible Assets |
Goodwill & Intangible Assets The changes in the carrying value of goodwill by segment for the nine months ended September 30, 2024 are as follows (in thousands):
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Device Solutions (a) |
| Balance as of December 31, 2023 |
$ |
3,710 |
| Goodwill acquired |
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— |
| Balance as of September 30, 2024 |
$ |
3,710 |
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(a) The Patient Services segment had no recorded goodwill during the reported periods. |
The carrying amount and accumulated amortization of intangible assets consisted of the following (in thousands):
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September 30, 2024 |
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December 31, 2023 |
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Gross
Assets
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Accumulated
Amortization
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Net |
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Gross
Assets
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Accumulated
Amortization
|
|
Net |
| Nonamortizable intangible assets |
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| Trade names |
$ |
2,000 |
|
$ |
— |
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$ |
2,000 |
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$ |
2,000 |
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$ |
— |
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$ |
2,000 |
| Amortizable intangible assets: |
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| Trade names |
23 |
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(23) |
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— |
|
23 |
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(23) |
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— |
| Physician and customer relationships |
38,834 |
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(34,820) |
|
4,014 |
|
38,834 |
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(34,295) |
|
4,539 |
| Non-competition agreements |
472 |
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(326) |
|
146 |
|
472 |
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(255) |
|
217 |
| Unpatented technology |
943 |
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(494) |
|
449 |
|
943 |
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(393) |
|
550 |
| Software |
10,300 |
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(10,205) |
|
95 |
|
10,300 |
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(10,160) |
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140 |
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| Total nonamortizable and amortizable intangible assets |
$ |
52,572 |
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$ |
(45,868) |
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$ |
6,704 |
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$ |
52,572 |
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$ |
(45,126) |
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$ |
7,446 |
Amortization expense for both the three and nine months ended September 30, 2024 and 2023 was $0.2 million and $0.7 million, respectively. This expense was recorded in "amortization of intangibles expenses" for each period. Expected remaining annual amortization expense for the next five years for intangible assets recorded as of September 30, 2024 is as follows (in thousands):
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2024 |
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2025 |
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2026 |
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2027 |
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2028 |
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2029 and thereafter |
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Total |
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| Amortization expense |
$ |
248 |
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$ |
810 |
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$ |
525 |
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$ |
471 |
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$ |
348 |
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$ |
2,302 |
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$ |
4,704 |
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