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Business combinations and investments (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jul. 03, 2021 | Dec. 31, 2020
Schedule of Business Acquisitions, by Acquisition | The consideration paid for Bioness is comprised of the following:
|  | Consideration |
Cash consideration at closing |  | $ | 48,933 |
Contingent consideration at fair value |  |  | 43,000 |
Total Bioness consideration |  | $ | 91,933 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date and the resulting goodwill, which is expected to be deductible for tax purposes:
Fair value of consideration |  | $ | 91,933 |
Assets acquired and liabilities assumed: |  |  |  |
Cash, cash equivalents and restricted cash (a) |  |  | 3,143 |
Accounts receivable |  |  | 4,124 |
Inventory |  |  | 7,318 |
Prepaid and other current assets |  |  | 1,947 |
Property and equipment |  |  | 673 |
Intangible assets |  |  | 87,000 |
Operating lease assets |  |  | 3,616 |
Other assets |  |  | 132 |
Accounts payable and accrued liabilities |  |  | (11,405 | )
Other current liabilities |  |  | (2,020 | )
Other liabilities |  |  | (4,930 | )
Net assets acquired |  |  | 89,598 |
Resulting goodwill (b) |  | $ | 2,335 |
(a) | Consists of cash and cash equivalents of $2,143 and restricted cash deposited by the former majority owner of Bioness of $1,000, into escrow with financial institutions for the purpose of paying specific Bioness indebtedness. The Company previously deposited $4,207 into escrow for the same purpose. Prior to the acquisition, Bioness had entered into two loans in connection with the Paycheck Protection Program (the PPP) under the Coronavirus Aid, Relief and Economic Security Act (CARES Act) administered by the U.S.
| Small business Administration. Bioness received proceeds of $3,204 from an unsecured PPP loan that was scheduled to mature on April 10, 2022. Bioness applied and was granted forgiveness of this loan during 2021. Bioness received proceeds of $2,003 from a second unsecured PPP loan bearing an interest rate of 1% scheduled to mature on February 5, 2026. Bioness applied for forgiveness of this loan during 2021. As part of the Bioness acquisition, the balance of $2,003 was placed in restricted cash to cover the repayment of the outstanding unsecured PPP loan in the event it is not forgiven. The $1,000 outstanding unsecured PPP loan balance covered by the former majority owner is included in other current liabilities within the condensed consolidated balance sheets.
(b) | The U.S. segment was allocated the resulting goodwill from the Bioness acquisition.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the preliminary fair values of identifiable intangible assets and their useful lives:
|  | Useful Life (in years) |  |  | Fair Value |
Intellectual property |  |  | 10 years |  |  | $ | 43,500 |
IPR&D |  |  | N/A |  |  |  | 43,250 |
Customer relationships |  |  | 2 years |  |  |  | 250 |
|  |  |  |  |  | $ | 87,000 |
Business Acquisition, Pro Forma Information | Consolidated unaudited pro forma results of operations for the Company are presented below assuming the 2021 Bioness Acquisition had occurred January 1, 2020. Pro forma operating results for the three and six months ended June 27, 2020 include operating expenses of $3,939 and $7,135, respectively, for acquisition integration costs and inventory related adjustments.
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 3, 2021 |  |  | June 27, 2020 |  |  | July 3, 2021 |  |  | June 27, 2020 |
Net sales |  | $ | 109,816 |  |  | $ | 65,955 |  |  | $ | 200,541 |  |  | $ | 157,570 |
Net (loss) income |  | $ | (6,841 | ) |  | $ | (12,962 | ) |  | $ | 16,333 |  |  | $ | (11,376 | )
Earnings per share of Class A common stock(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.03 | ) |  |  |  |  |  | $ | (0.08 | ) |  |  |  |
Schedule of Variable Interest Entities | Harbor assets that could only be used to settle Harbor obligations and Harbor liabilities for which creditors did not have recourse to the general credit of the Company were as follows at December 31, 2020:
|  | December 31, 2020 |
Cash and cash equivalents |  | $ | 803 |
Property and equipment, net |  |  | 173 |
Intangible assets, net |  |  | 5,635 |
Operating lease assets |  |  | 178 |
Other assets |  |  | 74 |
|  | $ | 6,863 |
Accounts payable and accrued liabilities |  | $ | 366 |
Other current liabilities |  |  | 2,004 |
Other long-term liabilities |  |  | 659 |
|  | $ | 3,029 |
Bio Ventus LLC |  |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |  | The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date:
Cash and cash equivalents |  | $ | 1,430 |
Intellectual property (10-year useful life) |  |  | 4,834 |
IPR&D |  |  | 1,445 |
Other assets |  |  | 70 |
Accounts payable and accrued liabilities |  |  | (932 | )
Other current liabilities |  |  | (1,696 | )
Other long-term liabilities |  |  | (697 | )
Deferred income tax |  |  | (266 | )
Estimated fair value of net assets acquired |  |  | 4,188 |
Bioventus purchase price |  |  | 1,000 |
Fair value of Harbor’s noncontrolling interest |  |  | 3,188 |
|  | $ | — |
Schedule of Variable Interest Entities |  | Harbor assets that can only be used to settle Harbor obligations and Harbor liabilities for which creditors do not have recourse to the general credit of the Company are as follows for the years ended December 31:
|  | 2020 |  |  | 2019 |
Cash and cash equivalents |  | $ | 803 |  |  | $ | 1,127 |
Property and equipment, net |  |  | 173 |  |  |  | 60 |
Intangible assets, net |  |  | 5,635 |  |  |  | 6,122 |
Operating lease assets |  |  | 178 |  |  |  | 231 |
Other assets |  |  | 74 |  |  |  | 59 |
|  | $ | 6,863 |  |  | $ | 7,599 |
Accounts payable and accrued liabilities |  | $ | 366 |  |  | $ | 458 |
Other current liabilities |  |  | 2,004 |  |  |  | 2,395 |
Deferred income tax |  |  | — |  |  |  | 215 |
Other long-term liabilities |  |  | 659 |  |  |  | 872 |
|  | $ | 3,029 |  |  | $ | 3,940 |

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