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Held for Sale
6 Months Ended
Dec. 31, 2019
Assets Held For Sale Not Part Of Disposal Group [Abstract]  
Held for Sale

(18)

HELD FOR SALE

 

On January 31, 2020, the Company entered into an interest purchase agreement with Landkreis Starnberg to sell the Clinic to Landkreis Starnberg, subject to certain customary closing conditions, including the receipt of all necessary regulatory approvals. The agreement provides for a sale price of $22.4 and is expected to be completed in the quarter ending March 31, 2020. The Company is selling the Clinic as a result of a decision to shift all laboratory developed testing to United States laboratories.

 

The Clinic is an internal medicine emergency hospital that is considered a specialized hospital for internal medicine and hemodialysis.  The sale of the Company’s interest in the Clinic, including all assets and liabilities, is expected to close in the third fiscal quarter of 2020 and is classified as current assets held for sale and current liabilities held for sale in the consolidated balance sheet as of December 31, 2019. These net assets are associated with the Company's other segment.

 

The Company recognized a $1.3 impairment charge for goodwill allocated to the Clinic asset group that is included in selling, general, and administrative expense for the quarter ended December 31, 2019.

 

The following table provides the components of those assets and liabilities held for sale (in millions):

 

 

December 31, 2019

 

Current assets

 

$

6.1

 

Property, plant and equipment, net

 

 

19.5

 

Goodwill

 

 

7.3

 

     Total assets held for sale

 

$

32.9

 

 

 

 

 

 

Current liabilities

 

$

2.8

 

Other long-term liabilities

 

 

7.7

 

     Total liabilities held for sale

 

$

10.5