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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill Changes in the carrying amount of goodwill for the three months ended March 31, 2025 were as follows:
|  | Total
Goodwill at January 1, 2025 |  | $ | 93,844 |
Clinic acquisitions |  | 188 |
Boston O&P measurement period adjustment |  | 233 |
Foreign currency translation impact |  | (592) |
Goodwill at March 31, 2025 |  | $ | 93,673 |
Intangible Assets As of March 31, 2025, the balances of amortizable intangible assets were as follows:
|  | Weighted-Average Amortization Period |  | Gross Intangible Assets |  | Accumulated Amortization |  | Net Intangible Assets
Patents |  | 10.0 years |  | $ | 44,728 |  |  | $ | (14,663) |  |  | $ | 30,065 |
Intellectual Property & Capitalized Software |  | 7.9 years |  | 16,027 |  |  | (4,449) |  |  | 11,578 |
Customer Relationships & Other |  | 11.4 years |  | 21,909 |  |  | (5,192) |  |  | 16,717 |
License Agreements |  | 2.5 years |  | 10,725 |  |  | (6,737) |  |  | 3,988 |
Total amortizable assets |  |  |  | $ | 93,389 |  |  | $ | (31,041) |  |  | $ | 62,348 |
As of December 31, 2024, the balances of amortizable intangible assets were as follows:
|  | Weighted-Average Amortization Period |  | Gross Intangible Assets |  | Accumulated Amortization |  | Net Intangible Assets
Patents |  | 10.2 years |  | $ | 45,064 |  |  | $ | (13,984) |  |  | $ | 31,080 |
Intellectual Property & Capitalized Software |  | 8.2 years |  | 16,027 |  |  | (4,065) |  |  | 11,962 |
Customer Relationships & Other |  | 11.5 years |  | 21,850 |  |  | (4,783) |  |  | 17,067 |
License Agreements |  | 2.7 years |  | 10,710 |  |  | (6,392) |  |  | 4,318 |
Total amortizable assets |  |  |  | $ | 93,651 |  |  | $ | (29,224) |  |  | $ | 64,427 |
Licenses are tied to product launches and do not begin amortizing until the product is launched to the market. Trademarks are non-amortizing intangible assets which were $16,736 and $16,752 as of March 31, 2025 and December 31, 2024, respectively. Trademarks are recorded in Other intangible assets on the condensed consolidated balance sheets. The change in balance during the three months ended March 31, 2025 was driven by foreign currency translation adjustments. During 2024, management determined that a triggering event occurred, indicating that it was more likely than not the fair value of the ApiFix trademark asset was less than the carrying value. As such, the Company completed a quantitative analysis whereby we determined the fair value of the ApiFix trademark asset was below the carrying value. We recorded an impairment charge of $1,836 for the year ended December 31, 2024 to reduce the carrying amount of the intangible asset to its estimated fair value.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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