COMMITMENTS, CONTINGENCIES AND CONCENTRATIONS

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS, CONTINGENCIES AND CONCENTRATIONS

Property and Rental Agreements

In March 2014, we signed a lease for offices located in Purchase, New York. The lease is for 3,650 square feet of office space with a monthly cost of approximately $9,277 per month for the lease expiring in June 2019.

In October 2015, pursuant to our acquisition of Bovie Bulgaria, we are obligated to pay a lease of $4,652 per month, expiring in December 2021, for 16,500 square feet of office, research and manufacturing space in Sofia, Bulgaria.

The following is a schedule of approximate future minimum lease payments under operating leases as of March 31, 2017:



(In thousands)
2017 (remaining nine months)	$	127
2018	172
2019	115
2020	56
2021	56
Total	$	526

Rent expense for the three months ended March 31, 2017 and 2016 was approximately $41,787 and $45,050, respectively.

Purchase Commitments

At March 31, 2017, we had purchase commitments for inventories totaling approximately $4.7 million, substantially all of which is expected to be purchased by the end of 2017.

Concentrations

With respect to receivables, our ten largest customers accounted for approximately 46.2% and 56.2% of trade receivables as of March 31, 2017 and 2016, respectively and approximately 56.2% and 61.1% of net revenues for the three months ended March 31, 2017 and 2016, respectively. For the three months ended March 31, 2017, McKesson and National Distribution & Contracting Inc. accounted for 16.0% and 8.7% of sales, while for the same period in 2016, McKesson and National Distribution & Contracting Inc. accounted for 20.2% and 10.5% of sales.