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Subsequent Events
12 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 17. Subsequent Events

Acquisition of Breethe, Inc.

The Company acquired Breethe, Inc. (“Breethe”), a Maryland corporation on April 24, 2020. Breethe is engaged in research and development of a novel extracorporeal membrane oxygenation (“ECMO”) system that the Company expects will complement and expand its product portfolio to more comprehensively serve the needs of patients whose lungs can no longer provide sufficient oxygenation, including some patients suffering from cardiogenic shock, or respiratory failure, such as ARDS, H1N1, or COVID-19. ECMO has also been utilized as a primary method of oxygenation and hemodynamic support for pediatric patients. Breethe has submitted an application for 510(k) clearance with the FDA in January 2020 and we anticipate receiving regulatory approval in fiscal 2021.

The Company acquired Breethe for $55.0 million in cash, with additional potential payouts up to a maximum of $55.0 million payable based on the achievement of certain technical, regulatory and commercial milestones. These milestone payments may be made, at the Company’s option, by a combination of cash or its common stock.