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Related Party Transactions
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3 Months Ended | ||
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Mar. 31, 2012
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| Related Party Transactions [Abstract] | |||
| Related Party Transactions |
The Company recorded $0.2 million in stock based compensation expense for each of the quarters ended March 31, 2012 and March 31, 2011 related to shares granted to the board of directors and officers. During the three months ended March 31, 2012, the Company provided pumps to Adepto Medical, a company that is controlled by a family member of Mr. Tom Creal, an Executive of the Company. Total sales during the three months ended March 31, 2012 totaled less than $0.1 million. Outstanding receivables associated with the revenue were less than $0.1 million as of March 31, 2012 and has been shown separately as Current Assets - Related Parties in the Consolidated Balance Sheets. There were no transactions with Adepto for the three months ended March 31, 2011. As described in Note 7, the Company entered into a subordinated promissory note related to an acquisition in 2010 with the Seller. The Seller is a current employee of the Company, and is subject to an employment agreement. Also, the Seller owns Jan-Mar LLC and is the principal owner of the CW Investment Group LLC. In accordance with the Stock Purchase Agreement, the Company entered into operating lease agreements with Jan-Mar LLC and the CW Investment Group LLC, each of which owns one of the two office buildings utilized by the Company in Olathe, Kansas. The terms of each lease are thirty six months, which commenced on July 1, 2010. Rent will be paid monthly in the amount of less than $0.1 million to Jan-Mar LLC and less than $0.1 million to the CW Investment Group LLC.
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