XML 44 R29.htm IDEA: XBRL DOCUMENT v3.21.2
Subsequent Events
12 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
Recent Acquisitions
Subsequent to September 30, 2021, the Company completed the acquisition of a business within the Company’s Healthcare vertical which provides comprehensive revenue cycle management and related administrative and consulting services for hospitals, including academic teaching institutions with residents, practice groups and healthcare providers primarily in the southeast. Total purchase consideration for the business included $60,000 in cash and revolving line of credit proceeds, and an amount of contingent consideration, which is still being valued.
Certain provisions in the purchase agreements provide for additional consideration of up to $8,000, in the aggregate, to be paid based upon the achievement of specified financial performance targets, as defined in the purchase agreements, through no later than September 2023. The Company is in process of determining the acquisition date fair values of the liabilities for the contingent consideration based on discounted cash flow analyses. In each subsequent reporting period, the Company will reassess its current estimates of performance relative to the targets and adjust the contingent liabilities to their fair values through earnings.
The effect of the acquisition will be included in the consolidated statements of operations beginning October 1, 2021.
The Company is still evaluating the allocations of the preliminary purchase consideration and pro forma results of operations.