v3.19.2

BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the total consideration paid for Vilex and Orthex and the preliminary allocation of purchase price to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands):

Description						Amount
Preliminary fair value of estimated total acquisition consideration						$	60,276
Assets
Cash and cash equivalents						348
Trade receivables						1,849
Inventory						3,905
Prepaid expenses and other current assets						12
Property and equipment						7,541
Intangible assets						18,260
Operating lease right-of-use asset						323
Total assets						32,238
Liabilities
Accounts payable and accrued liabilities						564
Operating lease liabilities						323
Other long-term liabilities						68
Total liabilities						955
Less: total net assets						31,283
Goodwill						$	28,993

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The fair value of identifiable intangible assets were based on valuations using a combination of the income and cost approach. The estimated fair value and useful life of identifiable intangible assets are as follows:

						Amount						Remaining Economic Useful Life
Trademarks / Names						$	4,160					Indefinite
Patents						8,380						15 years
Internally Developed Software						960						10 years
Customer Relationships						4,690						12 years
Non-competition Agreements						70						5 years
						$	18,260

Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination

The fair value of identifiable intangible assets were based on valuations using a combination of the income and cost approach. The estimated fair value and useful life of identifiable intangible assets are as follows:

						Amount						Remaining Economic Useful Life
Trademarks / Names						$	4,160					Indefinite
Patents						8,380						15 years
Internally Developed Software						960						10 years
Customer Relationships						4,690						12 years
Non-competition Agreements						70						5 years
						$	18,260

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- References

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of characteristics and cost, by total and major class, of indefinite-lived intangible assets acquired as part of a business combination. Indefinite-lived intangible assets are assets that have no physical form, but have expected future economic benefit. The future benefit is not expected to diminish over a stated period of time. Acquired indefinite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the entity) and in total.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4922-128472

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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