9—

GOODWILL AND INTANGIBLE ASSETS

As discussed in Note

13,

ASC

350

requires that goodwill

not

be amortized but instead be tested at least annually for impairment, or more frequently when events or change in circumstances indicate that the asset might be impaired, by comparing the carrying value to the fair value of the reporting unit to which they are assigned. The Company considers its ASC

280

operating segment — High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) — to be its reporting units for purposes of testing for impairment. Goodwill amounts to

€1,767

thousand for the UDS division and to

€645

thousand for the HIFU division, at

December 31, 2019

and

2018.

The Company completed the required annual impairment test in the

fourth

quarter of

2019.

To determine the fair value of the Company’s reporting units, the Company used the discounted cash flow approach for each of the

two

reportable units. In both cases, the fair value of the reporting unit was in excess of the reporting unit's book value, which resulted in

goodwill impairment.

Intangible assets consist of the following:

	December 31,
	2019			2018
Licenses		1,466			1,431
Trade name and trademark		427			414
Patents		412			412
Organization costs		320			320
Total gross value		2,625			2,577
Accumulated amortization for licenses		(699	)		(587	)
Accumulated amortization for trade name and trademark		(424	)		(411	)
Accumulated amortization for patents		(412	)		(412	)
Accumulated amortization for organization costs		(320	)		(320	)
Less: Total accumulated amortization		(1,855	)		(1,730	)
Total		770			847

Amortization expenses related to intangible assets amounted to

€113

thousand,

€110

thousand and

€74

thousand, for the years ended

December 31, 2019,

2018

and

2017,

respectively.

For the

five

coming years, the annual estimated amortization expense will consist of the following:

	December 31, 2019
2020		106
2021		97
2022		90
2023		83
2024		83
Total		460