GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 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. In 2019, there was an adjustment to goodwill of $0.1 million. The goodwill balance at September 30, 2021 was $8.4 million. The net carrying value of the identifiable intangible assets from all acquisitions as of September 30, 2021 and December 31, 2020 are as follows:

			As of September 30, 2021			As of December 31, 2020
	Life		Carrying			Carrying
	(Years)		Amount			Amount
			(unaudited)
Asuragen acquisition:
Thyroid		9	$	8,519		$	8,519
RedPath acquisition:
Pancreas test		7		16,141			16,141
Barrett’s test		9		6,682			6,682
BioPharma acquisition:
Trademarks		10		1,600			1,600
Customer relationships		8		5,700			5,700
CLIA Lab		2.3		609			609
Total			$	39,251		$	39,251
Accumulated Amortization			$	(31,237	)	$	(27,900	)
Net Carrying Value			$	8,014		$	11,351

Amortization expense was approximately $1.1 million for both the three-month periods ended September 30, 2021 and 2020, respectively and approximately $3.3 million for both the nine-month periods ended September 30, 2021 and 2020, respectively. Estimated amortization expense for the next five years is as follows:

2021		2022		2023		2024		2025
$	1,112	$	2,155	$	2,099	$	873	$	873

The following table displays a roll forward of the carrying amount of goodwill from December 31, 2020 to September 30, 2021:

	Carrying
	Amount
Balance as of December 31, 2020	$	8,433
Adjustments		-
Balance as of September 30, 2021	$	8,433

8. Goodwill and Other Intangible Assets

Goodwill is attributable to the acquisition of the Biopharma business from CGI 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 December 31, 2020 was $8.4 million. The net carrying value of the identifiable intangible assets as of December 31, 2020 and December 31, 2019 is as follows:

			As of December 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		6,682			6,719
BioPharma acquisition:
Trademarks		10		1,600			1,600
Customer relationships		8		5,700			5,700
CLIA Lab		2.3	$	609		$	609
Total			$	39,251		$	39,288
Accumulated Amortization			$	(27,900	)	$	(23,439	)
Net Carrying Value			$	11,351		$	15,849

The following table displays a roll forward of the carrying amount of goodwill from January 1, 2019 to December 31, 2020:

	Carrying
	Amount
Balance as of January 1, 2019	$	-
Goodwill acquired		8,273
Adjustments		160
Balance as of December 31, 2019		8,433
Adjustments		-
Balance as of December 31, 2020	$	8,433

Amortization expense was approximately $4.5 million and $4.0 million for the years ended December 31, 2020 and 2019, respectively. Estimated amortization expense for the next five years is as follows:

2021		2022		2023		2024		2025
$	4,078	$	2,156	$	1,745	$	873	$	873