Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.21.2
Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition The following table summarizes the consideration paid and the allocation of the purchase price to the fair values of the assets acquired and liabilities assumed as of the respective acquisition dates for both FilAMed and OB Healthcare (in thousands):
  FilAMed
OB
Healthcare
Total
Consideration
Cash $ 1,400  $ 6,250  $ 7,650 
Working capital (a) —  327  327 
Contingent consideration —  750  750 
Total - consideration $ 1,400  $ 7,327  $ 8,727 
 
FilAMed
OB
Healthcare
Total
Acquisition Date
Fair Value
Accounts receivable (a) $ —  $ 727  $ 727 
Inventories 74  —  74 
Medical equipment held for sale or rental 40  —  40 
Property and equipment 102  59  161 
Intangible assets 1,015  3,000  4,015 
Goodwill 169  3,541  3,710 
Operating lease right of use assets 281  7  288 
Operating lease liabilities (281) (7) (288)
Total - purchase price (a) $ 1,400  $ 7,327  $ 8,727 
(a) Amount based on preliminary working capital.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The following table summarizes the consideration paid and the allocation of the purchase price to the fair values of the assets acquired and liabilities assumed as of the respective acquisition dates for both FilAMed and OB Healthcare (in thousands):
  FilAMed
OB
Healthcare
Total
Consideration
Cash $ 1,400  $ 6,250  $ 7,650 
Working capital (a) —  327  327 
Contingent consideration —  750  750 
Total - consideration $ 1,400  $ 7,327  $ 8,727 
 
FilAMed
OB
Healthcare
Total
Acquisition Date
Fair Value
Accounts receivable (a) $ —  $ 727  $ 727 
Inventories 74  —  74 
Medical equipment held for sale or rental 40  —  40 
Property and equipment 102  59  161 
Intangible assets 1,015  3,000  4,015 
Goodwill 169  3,541  3,710 
Operating lease right of use assets 281  7  288 
Operating lease liabilities (281) (7) (288)
Total - purchase price (a) $ 1,400  $ 7,327  $ 8,727 
(a) Amount based on preliminary working capital.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The following table shows the breakdown of the identified intangible assets acquired into major intangible asset classes for both acquisitions:
 
Acquisition Date
Fair Value
(Thousands)
Weighted-Average
Amortization Period
(Years)
Customer relationships $ 2,300  15
Unpatented technology 943  7
Non-competition agreements 472  5
Internal-use software 300  5
 
Total intangible assets (a) $ 4,015  11.2
(a) There was no residual value, renewal terms or extensions associated with any intangible assets acquired.
Business Acquisition, Pro Forma Information The following pro forma financial information presented also includes the pro forma depreciation
and amortization charges from acquired tangible and intangible assets for the three and nine months ended September 30, 2021 and 2020 (in thousands):
  Three Months Ended
September 30,		 Nine Months Ended
September 30,
  2021 2020 2021 2020
Revenue $ 26,566  $ 25,731  $ 76,633  $ 75,270 
Net income $ (373) $ 2,691  $ 1,268  $ 6,120