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Goodwill and Intangible Assets, net

9 Months Ended

Sep. 30, 2021

4. Goodwill and Intangible Assets, net

At September 30, 2021 and December 31, 2020, goodwill and intangible assets, net, consisted of the following (in thousands):

	September 30, 2021			December 31, 2020
Goodwill - Insight Merger⁽¹⁾	$	9,194		$	9,187
Goodwill - Chronix Merger⁽¹⁾		9,238			-
Total Goodwill		18,432			9,187

Intangible assets:
Acquired IPR&D - DetermaIO^{TM (2)}	$	14,650		$	14,650
Acquired IPR&D - TheraSure™ ⁽³⁾		46,800			-

Intangible assets subject to amortization:
Acquired intangible assets - customer relationship		440			440
Acquired intangible assets - Razor (see Note 3)		33,284			-
Total intangible assets		95,174			15,090
Accumulated amortization - customer relationship⁽⁴⁾		(147	)		(81	)
Accumulated amortization - Razor⁽⁴⁾		(2,305	)		-
Intangible assets, net	$	92,722		$	15,009

(1)	Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the Insight Merger and the Chronix Merger (see Note 3).
(2)	See Note 3 for information on the Insight Merger.
(3)	See Note 3 for information on the Chronix Merger.
(4)	Amortization of intangible assets is included in “Cost of revenues – amortization of acquired intangibles” on the condensed consolidated statements of operations in the current year because the intangible assets pertain directly to the revenues generated from the acquired intangibles.

Future amortization expense is expected to be the following (in thousands):