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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the three and nine-month periods ended September 30, 2025 and 2024, were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Three Months Ended
​ | ​ | September 30, 2025 | ​ | September 30, 2024
​ |  | Cardiovascular |  | Endoscopy |  | Consolidated |  | Cardiovascular |  | Endoscopy |  | Consolidated
Net sales |  | $ | 366,425 |  | $ | 17,732 |  | $ | 384,157 |  | $ | 322,855 | ​ | $ | 16,990 |  | $ | 339,845
Cost of sales standard(1) | ​ | ​ | 144,299 | ​ | ​ | 4,258 | ​ | ​ | ​ | ​ | ​ | 137,530 | ​ | ​ | 4,594 | ​ | ​ | ​
Cost of sales other(2) | ​ |  | 47,324 | ​ |  | 1,865 | ​ |  | ​ | ​ |  | 37,531 | ​ |  | 2,655 | ​ |  | ​
Selling, general and administrative expenses | ​ |  | 113,835 | ​ |  | 5,966 | ​ |  | ​ | ​ |  | 90,409 | ​ |  | 9,235 | ​ |  | ​
Research and development expenses | ​ | ​ | 23,157 | ​ | ​ | 809 | ​ | ​ | ​ | ​ | ​ | 19,727 | ​ | ​ | 800 | ​ | ​ | ​
Other operating expenses(3) | ​ | ​ | 32 | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 103 | ​ | ​ | — | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations | ​ | $ | 37,778 | ​ | $ | 4,834 | ​ | $ | 42,612 | ​ | $ | 37,555 | ​ | $ | (294) | ​ | $ | 37,261
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total other expense — net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (4,072) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (604)
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Income before income taxes | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 38,540 | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 36,657
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, 2025 | ​ | September 30, 2024
​ |  | Cardiovascular |  | Endoscopy |  | Consolidated |  | Cardiovascular |  | Endoscopy |  | Consolidated
Net sales |  | $ | 1,069,163 |  | $ | 52,807 |  | $ | 1,121,970 |  | $ | 964,044 | ​ | $ | 37,312 |  | $ | 1,001,356
Cost of sales standard(1) | ​ | ​ | 430,449 | ​ | ​ | 12,963 | ​ | ​ | ​ | ​ | ​ | 411,088 | ​ | ​ | 10,959 | ​ | ​ | ​
Cost of sales other(2) | ​ |  | 129,057 | ​ |  | 6,583 | ​ |  | ​ | ​ |  | 105,661 | ​ |  | 3,298 | ​ |  | ​
Selling, general and administrative expenses | ​ |  | 322,482 | ​ |  | 17,902 | ​ |  | ​ | ​ |  | 273,343 | ​ |  | 15,314 | ​ |  | ​
Research and development expenses | ​ | ​ | 68,417 | ​ | ​ | 2,394 | ​ | ​ | ​ | ​ | ​ | 60,286 | ​ | ​ | 1,986 | ​ | ​ | ​
Other operating expenses(3) | ​ | ​ | 1,198 | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | 292 | ​ | ​ | — | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations | ​ | $ | 117,560 | ​ | $ | 12,965 | ​ | $ | 130,525 | ​ | $ | 113,374 | ​ | $ | 5,755 | ​ | $ | 119,129
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total other expense — net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (10,648) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,281)
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Income before income taxes | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 119,877 | ​ |  | ​ | ​ | ​ | ​ | ​ | $ | 116,848
(1) | Cost of sales standard represents costs of goods sold measured at the internal standard cost for production of inventory. Inventory standard costs include material, labor and manufacturing overhead.
(2) | Cost of sales other for all segments includes amortization expense associated with our developed technology and license agreement intangible assets, freight and handling associated with shipments to customers, provisions based on estimated excess, slow moving and obsolete inventories, manufacturing and price variances, and royalties.
(3) | Other operating expenses include contingent consideration expense (benefit) related to the changes in fair value of contingent payments associated with acquisitions.
Total depreciation and amortization by operating segment for the three and nine-month periods ended September 30, 2025 and 2024, consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024
Cardiovascular | ​ | $ | 29,055 | ​ | $ | 24,025 | ​ | $ | 84,792 | ​ | $ | 71,377
Endoscopy | ​ | ​ | 2,261 | ​ | ​ | 2,378 | ​ | ​ | 6,837 | ​ | ​ | 2,716
Total | ​ | $ | 31,316 | ​ | $ | 26,403 | ​ | $ | 91,629 | ​ | $ | 74,093
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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