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Subsequent Events
6 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 2, 2020, we entered into a purchase agreement to acquire all of the outstanding units and equity of Key Surgical, LLC ("Key Surgical"). Key Surgical is a portfolio company of Water Street Healthcare Partners, LLC and is a global provider of sterile processing, operating room and endoscopy consumable products serving hospitals and surgical facilities. Key Surgical is expected to be integrated into our Healthcare segment. We anticipate that the acquisition will be completed before December 31, 2020.
The purchase price is $850,000 in cash, or approximately $810,000 net of tax benefits, and is subject to customary adjustments. We are not assuming any pre-existing debt, and intend to fund the purchase through a combination of debt and cash on hand. On October 2, 2020, we entered into a financing commitment with several lenders providing for the establishment of a new senior unsecured three year term loan credit facility to be effective upon closing of the acquisition in the amount of $550,000 to partially fund the acquisition.
As a result of limited access to the information required to prepare the initial accounting, we are unable to provide the amounts that will be recognized at the acquisition date for the major classes of assets acquired and liabilities assumed, pre-existing contingencies, goodwill or other intangible assets at the time of this Form 10-Q filing.