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Business combinations and investments (Tables)
9 Months Ended
Oct. 02, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition The consideration paid for Bioness is comprised of the following:
Consideration
Cash consideration at closing$48,933 
Contingent consideration at fair value43,000 
Total Bioness consideration$91,933 
The consideration for Misonix is comprised of the following:
Common SharesPrice per ShareAmount
Cash$182,988 
Bioventus Class A shares18,340,790 $14.97 274,562 
Value of Misonix options settled in Bioventus options
22,624 
Merger consideration480,174 
Other cash consideration33,004 
Total Misonix consideration$513,178 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date and the resulting goodwill, which is expected to be deductible for tax purposes:
Fair value of consideration$91,933 
Assets acquired and liabilities assumed:
Cash and cash equivalents2,143 
Accounts receivable4,124 
Inventory7,318 
Prepaid and other current assets1,947 
Property and equipment673 
Intangible assets86,250 
Operating lease assets3,616 
Other assets132 
Accounts payable and accrued liabilities(11,405)
Other current liabilities(1,020)
Other liabilities(4,930)
Net assets acquired88,848 
Resulting goodwill(a)
$3,085 
(a)The U.S. segment was allocated the resulting goodwill from the Bioness acquisition.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination
The following table summarizes the preliminary fair values of identifiable intangible assets and their useful lives:
Useful Life (in years)Fair Value
Intellectual property
10 years
$44,750 
IPR&DN/A41,250 
Customer relationships2 years250 
$86,250 
Business Acquisition, Pro Forma Information Consolidated unaudited pro forma results of operations for the Company are presented below assuming the Bioness Acquisition had occurred January 1, 2020. Pro forma operating results for the three and nine months ended September 26, 2020 include operating expenses of $1,575 and $8,710, respectively, for acquisition integration costs and inventory related adjustments.
Three Months EndedNine Months Ended
October 2, 2021September 26, 2020October 2, 2021September 26, 2020
Net sales$108,890 $94,907 $309,431 $252,477 
Net (loss) income$(694)$2,816 $15,608 $(8,591)
Weighted-average shares of Class A common stock outstanding, basic and diluted(1):
$— $(0.08)
(1) Per share information for the nine months ended October 2, 2021 represents loss per share of Class A common stock and weighted-average shares of Class A common stock outstanding from February 16, 2021 through October 2, 2021, the period following Bioventus Inc.'s initial public offering and related transactions described in Note 1. Organization and Note 7. Earnings per share.
Schedule of Variable Interest Entities
Harbor assets that could only be used to settle Harbor obligations and Harbor liabilities for which creditors did not have recourse to the general credit of the Company were as follows at December 31, 2020:
December 31, 2020
Cash and cash equivalents$803 
Property and equipment, net173 
Intangible assets, net5,635 
Operating lease assets178 
Other assets74 
$6,863 
Accounts payable and accrued liabilities$366 
Other current liabilities2,004 
Other long-term liabilities659 
$3,029