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Acquisitions | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Acquisitions |
4. | Acquisitions
FITBONE Asset Purchase Agreement In March 2020, the Company completed an Asset Purchase Agreement (the “Purchase Agreement”) with Wittenstein SE (“Wittenstein”), a privately-held German-based company, to acquire assets associated with the FITBONE intramedullary lengthening system for limb lengthening of the femur and tibia bones for $18.0 million in cash consideration. The Company also entered into a Contract Manufacturing and Supply Aggreement (“CMSA”) with Wittenstein. Distributor Acquisition In July 2020, the Company, acquired certain assets of a medical device distributor for consideration of up to $7.6 million. Options Medical, LLC Asset Acquisition In January 2019, the Company acquired certain assets of Options Medical, LLC (“Options Medical”), a medical device distributor based in Florida for $6.4 million. Under the terms of the acquisition, the parties terminated an existing exclusive sales representative agreement, employees of Options Medical became employees of the Company, and the Company acquired all customer lists and customer information related to the sale of the Company’s products. Purchase Price Allocations for Acquisitions Completed in 2020 and 2019
(U.S. Dollars, in thousands) |  | FITBONE |  |  | Assigned Useful Life |  | Distributor Acquisition |  |  | Assigned Useful Life |  | Options Medical |  |  | Assigned Useful Life
Assets acquired |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventories |  | $ | 528 |  |  |  |  | $ | — |  |  |  |  | $ | — |  |  |
Other long-term assets |  |  | — |  |  |  |  |  | — |  |  |  |  |  | 175 |  |  |
Intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  |  | 800 |  |  | 15 years |  |  | 7,340 |  |  | 5 years |  |  | 5,832 |  |  | 10 years
Developed technology |  |  | 4,500 |  |  | 8 years |  |  | — |  |  | N/A |  |  | — |  |  | N/A
IPR&D |  |  | 300 |  |  | Indefinite |  |  | — |  |  | N/A |  |  | — |  |  | N/A
Trade name |  |  | 600 |  |  | 15 years |  |  | — |  |  | N/A |  |  | — |  |  | N/A
Assembled workforce |  |  | — |  |  | N/A |  |  | 235 |  |  | 5 years |  |  | 568 |  |  | 5 years
Total identifiable assets acquired |  | $ | 6,728 |  |  |  |  | $ | 7,575 |  |  |  |  | $ | 6,575 |  |  |
Liabilities assumed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | 69 |  |  |
Other long-term liabilities |  |  | — |  |  |  |  |  | — |  |  |  |  |  | 106 |  |  |
Total liabilities assumed |  |  | — |  |  |  |  |  | — |  |  |  |  |  | 175 |  |  |
Goodwill |  |  | 11,272 |  |  |  |  |  | — |  |  |  |  |  | — |  |  |
Total fair value of consideration transferred |  | $ | 18,000 |  |  |  |  | $ | 7,575 |  |  |  |  | $ | 6,400 |  |  |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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