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Acquisitions | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Acquisitions | ACQUISITIONS In June 2017 we announced an agreement to acquire NOVADAQ Technologies Inc. (NOVADAQ) for approximately $701. NOVADAQ is a leading developer of fluorescence imaging technology that provides surgeons with visualization of blood flow in vessels. We expect the acquisition will close in the third quarter of 2017 and will enhance product offerings within our MedSurg segment. In April 2016 we completed the acquisition of Sage Products, LLC (Sage) for total consideration of approximately $2,875. Sage develops, manufactures and distributes intensive care disposable products. This acquisition enhanced our product offerings within our MedSurg segment. The finalization of our purchase price allocation resulted in a $30 increase in goodwill from our preliminary allocation in 2016. In April 2016 we completed the acquisition of Physio-Control International, Inc. (Physio) for total net consideration of approximately $1,299. Physio develops, manufactures and markets monitors/defibrillators, AEDs and CPR-assist devices along with data management and support services. This acquisition enhanced our product offerings within our MedSurg segment. The finalization of our purchase price allocation resulted in a $19 decrease in goodwill from our preliminary allocation in 2016. The Other acquisitions in 2016 include the acquisition of the Synergetics neuro portfolio (Synergetics). The Synergetics acquisition enhanced our product offerings within our MedSurg segment. The finalization of our purchase price allocation resulted in an $11 increase in goodwill from our preliminary allocation in 2016. Purchase price allocations for additional Other acquisitions in 2017 and 2016 were based on preliminary valuations. Our estimates and assumptions are subject to change within the measurement period. Goodwill acquired with the Sage and Synergetics acquisitions is deductible for tax purposes.
Purchase Price Allocation of Acquired Net Assets
| 2017 |  | 2016
| Other |  | Sage | Physio | Other
Purchase price paid | $ | 38 |  |  | $ | 2,870 |  | $ | 1,299 |  | $ | 348 |
Contingent consideration | 5 |  |  | 5 |  | — |  | 27 |
Loss on settlement of pre-existing contract | — |  |  | — |  | — |  | (19 | )
Total consideration | $ | 43 |  |  | $ | 2,875 |  | $ | 1,299 |  | $ | 356 |
Tangible assets: |  |  |  |  |
Cash | $ | — |  |  | $ | 91 |  | $ | 32 |  | $ | 1 |
Accounts receivable | 1 |  |  | 29 |  | 107 |  | 17 |
Inventory | 2 |  |  | 63 |  | 61 |  | 5 |
Other assets | 1 |  |  | 80 |  | 103 |  | 21 |
Liabilities | (2 | ) |  | (83 | ) | (364 | ) | (29 | )
Intangible assets: |  |  |  |  |
Customer relationship | — |  |  | 930 |  | 344 |  | 12 |
Trade name | — |  |  | 70 |  | 160 |  | 10 |
Developed technology and patents | 33 |  |  | 173 |  | 226 |  | 119 |
Non-compete | — |  |  | — |  | — |  | 2 |
IPR&D | — |  |  | — |  | 7 |  | 7 |
Goodwill | 8 |  |  | 1,522 |  | 623 |  | 191 |
| $ | 43 |  |  | $ | 2,875 |  | $ | 1,299 |  | $ | 356 |
Weighted-average life of intangible assets | 15 |  |  | 15 |  | 14 |  | 12 |
Estimated Amortization Expense
Remainder of 2017 | 2018 | 2019 | 2020 | 2021
$ | 177 |  | $ | 344 |  | $ | 336 |  | $ | 317 |  | $ | 306 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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