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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2018
Business Acquisition [Line Items] |
Business Acquisition, Pro Forma Information | The following table summarizes our consolidated results of operations for the nine-month period ended September 30, 2017, as well as unaudited pro forma consolidated results of operations as though the acquisition of the Argon critical care division had occurred on January 1, 2016 (in thousands, except per common share amounts):
| Nine Months Ended |  |
| September 30, 2017 |  |
| As Reported |  | Pro Forma
Net sales | $ | 536,955 |  | $ | 539,715
Net income | 20,717 |  | 10,039
Earnings per common share: |  |  |
Basic | $ | 0.43 |  | $ | 0.21
Diluted | $ | 0.42 |  | $ | 0.20
* The pro forma results for the three-month periods ended September 30, 2018 and 2017 and the nine-month period ended September 30, 2018 are not included in the table above because the operating results for the Argon critical care division acquisition were included in our consolidated statements of income for these periods.
DirectACCESS Medical, LLC |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The purchase price was preliminarily allocated as follows (in thousands):
| Inventories | $ | 971
| Intangibles |
| Developed technology | 4,840
| Customer list | 120
| Trademarks | 400
| Goodwill | 938
| Total assets acquired | $ | 7,269
Becton, Dickinson and Company |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the purchase price allocated to the assets acquired from BD (in thousands):
| Inventories | $ | 5,804
| Property and equipment | 748
| Intangibles |
| Developed technology | 74,000
| Customer list | 4,200
| Trademarks | 4,900
| Goodwill | 10,613
| Total assets acquired | $ | 100,265
ITL Healthcare Pty Ltd |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the aggregate purchase price allocated to the assets acquired from ITL (in thousands):
Assets Acquired |
Trade receivables | $ | 1,287
Other receivables | 56
Inventories | 1,808
Prepaid expenses and other assets | 65
Property and equipment | 1,053
Intangibles |
Customer lists | 5,940
Goodwill | 3,945
Total assets acquired | 14,154
Liabilities Assumed |
Trade payables | (216)
Accrued expenses | (747)
Deferred income tax liabilities | (1,901)
Total liabilities assumed | (2,864)
Total net assets acquired | $ | 11,290
Laurane Medical S.A.S. |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the aggregate purchase price (including contingent royalty payment liabilities) allocated to the assets acquired from Laurane (in thousands):
| Inventories | $ | 594
| Intangibles |
| Developed technology | 14,920
| Customer list | 120
| Goodwill | 6,366
| Total assets acquired | $ | 22,000
Osseon LLC |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the purchase price allocated to the assets acquired (in thousands):
| Inventories | $ | 979
| Property and equipment | 58
| Intangibles |
| Developed technology | 5,400
| Customer list | 200
| Goodwill | 203
| Total assets acquired | $ | 6,840
Vascular Access Technologies, Inc. |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the purchase price allocated to the net assets acquired (in thousands):
| Intangibles |
| Developed technology | $ | 7,800
| In-process technology | 920
| Goodwill | 4,281
| Deferred tax liabilities | (3,101)
| Total net assets acquired | $ | 9,900
Argon Medical Devices, Inc. |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the purchase price allocated to the net tangible and intangible assets acquired and liabilities assumed (in thousands):
| Assets Acquired |
| Cash and cash equivalents | $ | 1,436
| Trade receivables | 8,351
| Inventories | 11,222
| Prepaid expenses and other assets | 1,275
| Income tax refund receivables | 165
| Property and equipment | 2,319
| Deferred income tax assets | 202
| Intangibles |
| Developed technology | 2,200
| Customer lists | 1,500
| Trademarks | 900
| Total assets acquired | 29,570
| Liabilities Assumed |
| Trade payables | (2,414)
| Accrued expenses | (5,083)
| Deferred income tax liabilities | (934)
| Total liabilities assumed | (8,431)
| Total net assets acquired | 21,139
| Gain on bargain purchase (1) | (11,039)
| Total purchase price | $ | 10,100
(1) | The total fair value of the net assets acquired from Argon exceeded the purchase price, resulting in a gain on bargain purchase which was recorded within other income (expense) in our consolidated statements of income. We believe the reason for the gain on bargain purchase was a result of the divestiture of a non-strategic, slow-growth critical care business for Argon. It is our understanding that the divestiture allows Argon to focus on its higher growth interventional portfolio. A reduction of $1.2 million was recorded since the bargain purchase gain was first presented in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, resulting from our ongoing activities, including reassessment of the assets acquired and liabilities assumed. The purchase price allocation for this acquisition is now final. |
Catheter Connections, Inc. |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The purchase price was allocated as follows (in thousands):
Assets Acquired |
Trade receivables | $ | 958
Inventories | 2,157
Prepaid expenses and other assets | 85
Property and equipment | 1,472
Intangibles |
Developed technology | 21,100
Customer lists | 700
Trademarks | 2,900
Goodwill | 8,989
Total assets acquired | 38,361
Liabilities Assumed |
Trade payables | (338)
Accrued expenses | (23)
Total liabilities assumed | (361)
Total net assets acquired | $ | 38,000

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