Stout was engaged by a large regional health system to assist it in valuing the intangible assets of an acquired revenue cycle management firm for financial reporting purposes in connection with ASC Topic 805. We interviewed both the buyer and seller to develop an understanding of the rationale of the transaction and the expected synergies. Our work included determining the fair value of the purchase consideration, including analyzing the contingent consideration. Additionally, we determined the fair value of the acquired intangible assets, including a payer behavior database, operational know-how, customer agreements, and non-competition agreements. Our work product was used to support the intangible values to the system’s outside auditors.