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Note 15 - CSI Distribution Agreement Purchase Disclosure
12 Months Ended
Dec. 31, 2019
Notes  
Note 15 - CSI Distribution Agreement Purchase Disclosure

Note 15 – Distribution Agreement Purchase

 

UTMD completed the purchase of exclusive U.S. distribution rights for the FILSHIE Clip System from CooperSurgical, Inc. (CSI) on February 1, 2019, after which CSI will no longer sell the FILSHIE Clip System and UTMD will distribute the FILSHIE Clip System directly to clinical facilities in the U.S. The $21,000 purchase price represents an identifiable intangible asset which will be straight-line amortized and recognized as part of G&A expenses over the 4.75 year remaining life of the prior CSI distribution agreement with Femcare.  As part of the agreement, UTMD also purchased the remaining CSI inventory for approximately $2,100.