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Acquisitions
 3 Months Ended
Mar. 31, 2016
Business Combinations [Abstract]  
Acquisitions
Acquisitions

The table below reflects the activity related to the acquisitions and dispositions of our animal hospitals and laboratories during the three months ended March 31, 2016 and 2015, respectively:

 
Three Months Ended
March 31,
 
2016
 
2015
Animal Hospitals:
 
 
 
Acquisitions
24

 
11

Acquisitions, merged
(1
)
 
(2
)
Sold, closed or merged
(2
)
 
(2
)
Net increase
21

 
7

 
 
 
 
Laboratories:
 
 
 
Acquisitions
—

 
1

Acquisitions, merged
—

 
(1
)
Net increase
—

 
—






4.
Acquisitions, continued

Animal Hospital and Laboratory Acquisitions
The purchase price allocations for some of the 2016 animal hospital acquisitions included in the table below are preliminary; however, adjustments, if any, are not expected to be material. The measurement periods for purchase price allocations do not exceed 12 months from the acquisition date. The following table summarizes the aggregate consideration for our independent animal hospitals and labs acquired during the three months ended March 31, 2016 and 2015, respectively, (in thousands):

 
Three Months Ended
March 31,
 
2016
 
2015
Consideration:
 
 
 
  Cash, net of cash acquired
$
157,325

 
$
31,850

  Assumed debt
1,361

 
4,446

  Holdbacks
3,508

 
1,722

  Earn-outs
3,437

 
—

      Fair value of total consideration transferred
$
165,631

 
$
38,018

 
 
 
 
Allocation of the Purchase Price:
 
 
 
  Tangible assets
$
17,541

 
$
764

  Identifiable intangible assets (1)
18,844

 
2,838

  Goodwill (2)
129,246

 
34,563

  Other liabilities assumed
—

 
(147
)
      Fair value of assets acquired and liabilities assumed
$
165,631

 
$
38,018


____________________________

(1) 
Identifiable intangible assets include customer relationships, trademarks and covenants-not-to-compete. The weighted-average amortization period for the total identifiable intangible assets is approximately five years. The weighted-average amortization period for customer relationships, trademarks and covenants is approximately five years, two years and five years, respectively.

(2)  
We expect that $129.2 million and $30.4 million of the goodwill recorded for these acquisitions, as of March 31, 2016 and 2015, respectively, will be fully deductible for income tax purposes.

Included in the table above is Antech Diagnostics, Inc.'s March 31, 2015 acquisition of Abaxis Veterinary Reference Laboratory ("AVRL") for total consideration of $21.0 million. The purchase price allocation had been finalized during the quarter ended December 31, 2015.