Property and Equipment
|12 Months Ended|
Dec. 31, 2017
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
Note 5 – Property and Equipment
Property and equipment at December 31, 2017 and 2016 consisted of the following:
On January 13, 2017, the Company completed an asset purchase agreement to acquire certain assets related to the Big South Fork Medical Center, based in Oneida, Tennessee (the “Hospital Assets”). Big South Fork Medical Center is classified as a Critical Access Hospital (rural). The Company acquired the Hospital Assets out of bankruptcy for a purchase price of $1.0 million, and the purchase price has been recorded as property and equipment. The Company opened the hospital on August 8, 2017.
Depreciation expense on property and equipment was $1.7 million and $2.4 million for the years ended December 31, 2017 and 2016, respectively. During the year ended December 31, 2016, the Company determined that some of the equipment within the Clinical Laboratory Services business segment was impaired and the Company recorded an impairment charge of $1.0 million.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef