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Subsequent Events | Subsequent Events On February 5, 2025, the Company executed an amendment to its corporate headquarters lease agreement that extended the term of our lease commencing January 1, 2026 and terminating on May 31, 2031.
The following table summarizes our material contractual obligations from continuing operations subsequent to the execution of the amendment to the corporate headquarters lease agreement and the effect that such obligations are expected to have on our liquidity and cash flows in future periods:
On February 25, 2025, litigation related to a medical injury claim between a patient (“the Claimant”) and the Company filed on September 5, 2023 reached a settlement agreement. Per the terms of the settlement agreement, the Company and the Company’s insurance will pay the claimant $3.4 million. The Company has accrued the settlement recorded in discontinued operations current liabilities for $3.4 million as of December 31, 2024. The expense from the accrual is offset by a receivable recorded as discontinued operations current assets from the Company’s insurance for $1.9 million.
Subsequent to the balance sheet date, we have received draft LOIs for our full portfolio of company-owned or managed clinics and as of the filing of this Form 10-K are in the financial stages of LOI term negotiations.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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