Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

5. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill is attributable to the acquisition of our pharma services in July 2019. The carrying value of the intangible assets acquired was $15.6 million, with goodwill of approximately $8.3 million and identifiable intangible assets of approximately $7.3 million. The goodwill balance at March 31, 2020 was $8.4 million. The net carrying value of the identifiable intangible assets from all acquisitions as of March 31, 2020 and December 31, 2019 are as follows:

			As Restated			As Restated
			As of March 31, 2020			As of December 31, 2019
	Life		Carrying			Carrying
	(Years)		Amount			Amount
Asuragen acquisition:
Thyroid		9	$	8,519		$	8,519
RedPath acquisition:
Pancreas test		7		16,141			16,141
Barrett’s test		9		6,719			6,719
BioPharma acquisition:
Trademarks		10		1,600			1,600
Customer relationships		8		5,700			5,700
CLIA Lab		2.3	$	609		$	609
Total			$	39,288		$	39,288
Accumulated Amortization			$	(24,554	)	$	(23,439	)
Net Carrying Value			$	14,734		$	15,849

The following table displays a roll forward of the carrying amount of goodwill from December 31, 2019 to March 31, 2020:

	Carrying
	Amount
Balance as of December 31, 2019	$	8,433
Adjustments		-
Balance as of March 31, 2020	$	8,433

Amortization expense was approximately $1.1 million and $0.9 million for the three-month periods ended March 31, 2020 and 2019, respectively. Estimated amortization expense for the next five years is as follows:

As Restated
2020		2021		2022		2023		2024
$	4,871	$	4,078	$	2,156	$	1,745	$	873