GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Acquisitions in 2021

There were no material acquisitions for the three and nine months ended September 30, 2021.

Acquisitions in 2020

Orpheus Medical

In February 2020, the Company acquired Orpheus Medical Ltd. and its wholly owned subsidiaries (“Orpheus Medical”) to deepen and expand our integrated informatics platform (the “Orpheus Medical Acquisition”). Orpheus Medical provides hospitals with information technology connectivity, as well as expertise in capturing, processing, and archiving clinical videos across the hospital. The Orpheus Medical Acquisition did not have a material impact on the financial statements.

Goodwill

The following table summarizes the changes in the carrying amount of goodwill (in millions):


	Amount
Balance at December 31, 2020	$	336.7
Acquisition activity	8.0
Translation and other	(0.4)
Balance at September 30, 2021	$	344.3

Intangible Assets

The following table summarizes the components of gross intangible assets, accumulated amortization, and net intangible asset balances as of September 30, 2021, and December 31, 2020 (in millions):


	September 30, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Patents and developed technology	$	219.3	$	(169.3)	$	50.0	$	198.4	$	(158.7)	$	39.7
Distribution rights and others	26.3		(17.8)		8.5		91.9		(77.4)		14.5
Customer relationships	31.8		(13.1)		18.7		59.0		(35.8)		23.2
Total intangible assets	$	277.4	$	(200.2)	$	77.2	$	349.3	$	(271.9)	$	77.4

Amortization expense related to intangible assets was $6.3 million and $12.6 million for the three months ended September 30, 2021, and 2020, respectively. Amortization expense related to intangible assets was $20.8 million and $37.3 million for the nine months ended September 30, 2021, and 2020, respectively.

The estimated future amortization expense related to intangible assets as of September 30, 2021, is as follows (in millions):


Fiscal Year	Amount
Remainder of 2021	$	6.1
2022	23.6
2023	19.0
2024	14.5
2025	9.7
2026 and thereafter	4.3
Total	$	77.2

The preceding expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, measurement-period adjustments to intangible assets, changes in foreign currency exchange rates, impairments of intangible assets, accelerated amortization of intangible assets, and other events.