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Intangible assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Intangible assets |
Intangible assets | 7 Intangible assets ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Exclusive | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | licence | ​ | ​ | ​ | Proprietary | ​ | ​ | ​ | ​
​ | ​ | agreement | ​ | Software | ​ | technology | ​ | Brand | ​ | Total
​ |  | $ |  | $ |  | $ |  | $ |  | $
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |
Opening net book value |  | 165 |  | 770 |  | 417 |  | 83 |  | 1,435
Foreign exchange | ​ | (5) | ​ | (32) | ​ | (10) | ​ | (4) | ​ | (51)
Amortization |  | (25) |  | (193) |  | (407) |  | (79) |  | (704)
Closing net book value |  | 135 |  | 545 |  | — |  | — |  | 680
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2022 |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cost |  | 231 |  | 978 |  | 3,456 |  | 681 |  | 5,346
Accumulated amortization |  | (96) |  | (433) |  | (3,456) |  | (681) |  | (4,666)
Net book value |  | 135 |  | 545 |  | — |  | — |  | 680
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2023 |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Opening net book value |  | 135 |  | 545 |  | — |  | — |  | 680
Foreign exchange | ​ | 3 | ​ | 9 | ​ | — | ​ | — | ​ | 12
Amortization |  | (21) |  | (181) |  | — |  | — |  | (202)
Closing net book value |  | 117 |  | 373 |  | — |  | — |  | 490
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2023 |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cost |  | 231 |  | 978 |  | 3,456 |  | 681 |  | 5,346
Accumulated amortization |  | (114) |  | (605) |  | (3,456) |  | (681) |  | (4,856)
Net book value |  | 117 |  | 373 |  | — |  | — |  | 490
​ The Company has a licence agreement (the licence) with Sunnybrook Health Sciences Centre (Sunnybrook), pursuant to which Sunnybrook licenses to the Company certain intellectual property and exclusively licenced-in rights that enable the Company to use Sunnybrook’s technology for MRI-guided trans-urethral ultrasound therapy. The Company has the option to acquire rights to improvements to the relevant technology and intellectual property. If the Company fails to comply with any of its obligations or otherwise breaches this agreement, Sunnybrook may have the right to terminate the licence. Impairment of Goodwill - Sonalleve MR-HIFU CGU impairment test for the year ended December 31, 2022 In accordance with the Company’s accounting policy, the carrying value of goodwill is assessed annually as well as assessed for impairment triggers at each reporting date to determine whether there exists any indicators of impairment. When there is an indicator of impairment of non-current assets within a CGU or group of CGUs containing goodwill, the Company tests the non-current assets for impairment first and recognizes any impairment loss on goodwill before applying any remaining impairment loss against the non-current assets within the CGU. The Company completed its annual goodwill impairment testing on the goodwill related to the Sonalleve MR-HIFU CGU, which comprises all of the goodwill of the Company, on December 31, 2022. The recoverable amount of the Sonalleve MR-HIFU CGU was calculated using fair value less costs of disposal (FVLCD). The calculation of the recoverable amount of the Sonalleve MR-HIFU CGU was determined using discounted cash flow projections based on financial forecasts approved by management covering a four-year period (Level 3 of the fair value hierarchy) and a terminal growth assumption of 2%. The key assumptions and estimates used in determining the FVLCD are related to revenue and EBITDA assumptions, dependent on economic conditions and other events which are based on the financial forecast and assumed growth rates and the discount rate of 18% applied to the cash flow projections. As the return to business in China continued to be delayed as a result of actions outside of the control of management, including government restrictions impacting the re-opening of hospitals and clinics and delays in the vaccine roll out, management’s estimates of operating results and further cash flows for the forecasted periods have been negatively impacted. As a result of the impairment test performed, it was determined that the goodwill was impaired and the Company recognized an impairment of $2,524 during the year ended December 31, 2022, representing all of the Company’s goodwill. There were no other non-current assets allocated to the Sonalleve MR-HIFU CGU and therefore the impairment was only related to the remaining goodwill. No reasonable change in assumptions would change the outcome of the impairment test. ​
​ | ​ | ​
Goodwill |  | $
As at January 1, 2022 |  | 2,689
Foreign exchange |  | (165)
Impairment |  | (2,524)
As at December 31, 2022 |  | —
​

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