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Discontinued Operations
 12 Months Ended
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
 
PCT Segment

In May 2017, the Company sold its remaining 80.1% membership interest in PCT to Hitachi pursuant to the 2017 Hitachi Transaction (see Note 3). The aggregate purchase price to the Company consisted of (i) $75.0 million in cash, (ii) $4.4 million, representing additional consideration based on PCT’s cash and outstanding indebtedness as of the closing date, and (iii) a potential future milestone payment of $5.0 million if PCT had achieved $125 million in cumulative revenue (excluding clinical service reimbursables) for the period from January 1, 2017 through December 31, 2018. The Company had determined that the fair value of the milestone payment as of the closing date was zero and has since confirmed as of December 31, 2018 that the Milestone was not achieved. The Company recognized the following gain on the date of sale of its 80.1% interest in PCT (in thousands):
Fair value of consideration received
$
79,425

Transaction and retention costs
(6,919
)
Carrying value of segment non-controlling interest
3,687

 
$
76,193

Less carrying amount of assets and liabilities sold:
 
Cash
$
6,727

Accounts receivable
3,702

Deferred costs
4,685

Prepaid expenses and other current assets
743

Property, plant and equipment, net
14,900

Goodwill
7,013

Intangibles, net
2,090

Other assets
215

Accounts payable
(2,278
)
Accrued liabilities
(2,927
)
Due from Caladrius
450

Unearned revenues
(10,529
)
Notes payable
(342
)
 
$
24,449

 
 
Gain on sale of PCT
$
51,744



The operations and cash flows of the PCT Segment were eliminated from ongoing operations with the sale of the Company's PCT Interest. The operating results of the PCT Segment for the year ended December 31, 2017 were as follows (in thousands):
 
2017
Revenue
$
16,039

Cost of revenues
(15,321
)
Research and development
(257
)
Selling, general, and administrative
(3,251
)
Other expense
(14
)
Provision for income taxes
(10,541
)
Gain on sale of segment
51,744

Income from discontinued operations
$
38,399