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Business Combinations (Tables) | 3 Months Ended
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Mar. 31, 2020
CredentialMyDoc [Member] |
Summary of Purchase Price | A summary of the purchase price is as follows (in thousands):
Cash paid at closing |  | $ | 7,920 |
Cash held in escrow |  |  | 1,080 |
Total consideration paid |  | $ | 9,000 |
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):
Accounts and unbilled receivable, net |  | $ | 216 |
Prepaid and other current assets |  |  | 3 |
Operating lease right-of-use assets |  |  | 30 |
Deferred tax assets |  |  | 71 |
Goodwill |  |  | 4,657 |
Intangible assets |  |  | 4,340 |
Accounts payable and accrued liabilities |  |  | (7 | )
Deferred revenue |  |  | (280 | )
Operating lease liabilities |  |  | (30 | )
Net assets acquired |  | $ | 9,000 |
Summary of Preliminary Components of Identifiable Intangible Assets and Estimated Useful Lives | The following table sets forth the preliminary components of identifiable intangible assets and their estimated useful lives as of the acquisition date (in thousands):
|  | Preliminary Fair value |  |  | Useful life
Customer relationships |  | $ | 2,100 |  |  | 9 years
Developed technology |  |  | 2,100 |  |  | 4 years
Non-compete |  |  | 110 |  |  | 5 years
Trade name |  |  | 30 |  |  | 3 years
Total intangible assets subject to amortization |  | $ | 4,340 |  |  |
Summary of Unaudited Pro Forma Financial Information | The following unaudited pro forma financial information summarizes the results of operations of the Company and CredentialMyDoc as though the companies were combined as of January 1, 2019 (in thousands, except per share data):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Total revenues |  | $ | 61,703 |  |  | $ | 65,678 |
Income from continuing operations |  | $ | 7,191 |  |  | $ | 4,684 |
Net income |  | $ | 7,191 |  |  | $ | 5,878 |
Net income per share - basic |  | $ | 0.22 |  |  | $ | 0.18 |
Net income per share - diluted |  | $ | 0.22 |  |  | $ | 0.18 |
NurseGrid [Member] |
Summary of Purchase Price | A summary of the purchase price is as follows (in thousands):
Cash paid at closing |  | $ | 25,485 |
Cash acquired |  |  | (4,064 | )
Net consideration paid |  |  | 21,421 |
Fair value of existing equity interest in NurseGrid |  |  | 3,594 |
Total purchase price |  | $ | 25,015 |
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):
Accounts and unbilled receivable, net |  | $ | 92 |
Prepaid and other current assets |  |  | 145 |
Operating lease right-of-use assets |  |  | 50 |
Deferred tax assets |  |  | 2,119 |
Goodwill |  |  | 21,087 |
Intangible assets |  |  | 1,845 |
Accounts payable and accrued liabilities |  |  | (194 | )
Deferred revenue |  |  | (78 | )
Operating lease liabilities |  |  | (51 | )
Net assets acquired |  | $ | 25,015 |
Summary of Preliminary Components of Identifiable Intangible Assets and Estimated Useful Lives | The following table sets forth the preliminary components of identifiable intangible assets and their estimated useful lives as of the acquisition date (in thousands):
|  | Preliminary Fair value |  |  | Useful life
Customer relationships |  | $ | 35 |  |  | 8 years
Developed technology |  |  | 1,110 |  |  | 5 years
Trade name |  |  | 700 |  |  | Indefinite
Total intangible assets subject to amortization |  | $ | 1,845 |  |  |
Summary of Unaudited Pro Forma Financial Information | The following unaudited pro forma financial information summarizes the results of operations of the Company and NurseGrid as though the companies were combined as of January 1, 2019 (in thousands, except per share data):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Total revenues |  | $ | 61,644 |  |  | $ | 65,375 |
Income from continuing operations |  | $ | 6,515 |  |  | $ | 3,876 |
Net income |  | $ | 6,515 |  |  | $ | 5,071 |
Net income per share - basic |  | $ | 0.20 |  |  | $ | 0.16 |
Net income per share - diluted |  | $ | 0.20 |  |  | $ | 0.16 |
Summary of Revenue and Operating Loss Included in Company's Consolidated Statement of Income since the Date of Acquisition | The amounts of revenue and operating loss of NurseGrid included in the Company’s Consolidated Statement of Income since the date of acquisition of March 9, 2020 for the three months ended March 31, 2020 are as follows (in thousands):
Total revenues |  | $ | 28 |
Operating loss |  | $ | (220 | )

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