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Commitments And Contingencies | 6 Months Ended
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Jun. 30, 2021
Commitments And Contingencies [Abstract] |
Commitments And Contingencies | 11. Commitments and Contingencies Liability Claims In the normal course of business, we are made aware of adverse events involving our products and tissues. Future adverse events could ultimately give rise to a lawsuit against us, and liability claims may be asserted against us in the future based on past events that we are not aware of at the present time. We maintain claims-made insurance policies to mitigate our financial exposure to product and tissue processing liability claims. Claims-made insurance policies generally cover only those asserted claims and incidents that are reported to the insurance carrier while the policy is in effect. The amounts recorded in these Condensed Consolidated Financial Statements as of June 30, 2021 represent our estimate of the probable losses and anticipated recoveries for incurred but not reported claims related to products sold and services performed prior to the balance sheet date. PerClot Technology On September 28, 2010 we entered into a worldwide distribution agreement and a license and manufacturing agreement (collectively, the “SMI Agreements”) with Starch Medical, Inc. (“SMI”), for PerClot®, a polysaccharide hemostatic agent used in surgery. The SMI Agreements included terms with the potential for us to make contingent payments to SMI of up to $1.0 million if certain U.S. regulatory and certain commercial milestones are achieved (the “SMI Contingent Liabilities”). As of June 30, 2021 we had $1.5 million in prepaid royalties, $1.6 million in intangible assets, net, and $1.3 million in property and equipment, net, on our Condensed Consolidated Balance Sheets related to the PerClot product line. On July 28, 2021 we entered into an asset purchase agreement and other ancillary agreements related to the sale of our PerClot assets to a subsidiary of Baxter International, Inc. (“Baxter”) and an agreement to terminate all of our material agreements with SMI related to PerClot (collectively the “Baxter Transaction”). As part of the Baxter Transaction, the SMI Contingent Liabilities were extinguished. See Note 16 for further discussion of the sale of PerClot assets.

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