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Subsequent event | 9 Months Ended
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Sep. 27, 2020
Subsequent Events [Abstract] |
Subsequent event | Subsequent eventOn October 11, 2020, we executed a definitive agreement to acquire Z-Medica, LLC. ("Z-Medica"), a privately held medical device company that manufactures and sells hemostatic (hemorrhage control) products, which are marketed under the QuikClot, Combat Gauze and QuickClot Control+ brand names and will complement our anesthesia product portfolio. We will acquire Z-Medica for an initial cash purchase price of $500 million. The agreement also provides for an additional payment of up to $25 million upon the achievement of certain commercial milestones. The acquisition is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed in the fourth quarter of 2020. In anticipation of the expected completion of this transaction, in October 2020, we drew $500 million in additional borrowings under our revolving credit facility.

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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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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