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Fair value measurements and investments (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Financial Assets and Liabilities Recorded at Fair Value on Recurring Basis

The fair value measurements of the Company’s financial assets and liabilities measured on a recurring basis were as follows:

		June 30, 2023																December 31, 2022
(Unaudited, U.S. Dollars, in thousands)		Level 1				Level 2				Level 3				Total				Total
Assets
Neo Medical convertible loan agreements		$	—			$	—			$	7,690			$	7,690			$	7,140
Neo Medical preferred equity securities			—				6,084				—				6,084				6,084
Bone Biologics equity securities			—				—				—				—				—
Other investments			—				—				1,986				1,986				1,726
Total		$	—			$	6,084			$	9,676			$	15,760			$	14,950
Liabilities
Lattus contingent consideration		$	—			$	—				(9,900	)		$	(9,900	)		$	—
Spinal Kinetics contingent consideration			—				—				—				—				—
Deferred compensation plan			—				(1,467	)			—				(1,467	)			(1,515	)
Total		$	—			$	(1,467	)		$	(9,900	)		$	(11,367	)		$	(1,515	)

Schedule of Reconciliation of Investments in Equity Securities

The table below presents a reconciliation of the beginning and ending balances of the Company’s investment in Neo Medical preferred equity securities:

(Unaudited, U.S. Dollars, in thousands)		2023				2022
Fair value of Neo Medical preferred equity securities at January 1		$	6,084			$	5,413
Conversion of loan into preferred equity securities			—				671
Fair value of Neo Medical preferred equity securities at June 30			6,084				6,084
Cumulative unrealized gain on Neo Medical preferred equity securities			413				413

Schedule of Reconciliation For Contingent Consideration Measured At Fair Value Using Significant Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balances for the Spinal Kinetics contingent consideration measured at estimated fair value using significant unobservable inputs (Level 3):

(Unaudited, U.S. Dollars, in thousands)		2023				2022
Spinal Kinetics contingent consideration estimated fair value at January 1		$	—			$	17,200
Decrease in fair value recognized in acquisition-related amortization and remeasurement			—				(16,214	)
Spinal Kinetics contingent consideration estimated fair value at June 30		$	—			$	986

(Unaudited, U.S. Dollars, in thousands)		2023				2022
Lattus contingent consideration estimated fair value at January 5		$	11,200			$	—
Decrease in fair value recognized in acquisition-related amortization and remeasurement			(1,300	)			—
Lattus contingent consideration estimated fair value at June 30		$	9,900			$	—

Fair Value, Inputs, Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Reconciliation For Convertible Loans Measured At Fair Value Using Significant Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balances of the Convertible Loans, measured at fair value using significant unobservable inputs (Level 3):

(Unaudited, U.S. Dollars, in thousands)		2023				2022
Fair value of Neo Medical Convertible Loans at January 1		$	7,140			$	7,148
Interest recognized in interest income, net			238				217
Foreign currency remeasurement recognized in other expense, net			195				(257	)
Unrealized gain (loss) recognized in other comprehensive loss			117				(615	)
Conversion of Second Convertible Loan into preferred equity securities			—				(671	)
Fair value of Neo Medical Convertible Loans at June 30			7,690				5,820
Amortized cost basis of Neo Medical Convertible Loans at June 30			6,340				5,496

Schedule of Changes in Valuation of Securities

The following table provides quantitative information related to certain key assumptions utilized within the valuation as of June 30, 2023:

(Unaudited, U.S. Dollars, in thousands)		Fair Value as of  June 30, 2023				Unobservable inputs		Estimate
Neo Medical Convertible Loan		$	7,690			Cost of equity discount rate			18.0	%
						Estimated equity volatility			74.1	%

The following table provides quantitative information related to certain key assumptions utilized within the valuation as of June 30, 2023:

(Unaudited, U.S. Dollars, in thousands)		Fair Value as of  June 30, 2023				Unobservable inputs		Estimate
Lattus Contingent Consideration		$	9,900			Counterparty discount rate			9.0	%
						Revenue risk-adjusted discount rate			6.5	%

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