Business Combinations

12 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Business Combinations

2.Business Combinations

Acquisition of IZI

On November 14, 2011, the Company acquired all of the outstanding equity interests of IZI, a leading provider of high quality medical consumable accessories used in radiology, radiation therapy, and image guided surgery procedures, for $93,000 plus working capital and the assumption of liabilities.  The Company completed the acquisition of IZI as a platform to expand into the radiation oncology, radiology, and image guided surgery end markets.  The operating results of IZI are reported in the Medical Products reporting segment.

A portion of the purchase price, in the amount of $26,941, was applied to repay the outstanding indebtedness of IZI and certain unpaid expenses incurred by IZI and other disclosed parties in connection with the transaction. The Company funded the acquisition through borrowings under its existingcredit agreement.

The following table summarizes the $94,283 of consideration transferred to acquire IZI and the assets acquired and liabilities assumed based on their fair values as of the date of the acquisition.

(Dollars in Thousands)
Current assets	$	4,587
Property, plant and equipment		763
Intangible assets		27,000
Goodwill		64,069
Non-current deferred taxes, net		212
Other non-current assets		24
Current liabilities		(2,196)
Other long-term liabilities		(176)
Total assets acquired and liabilities assumed	$	94,283

The excess of the consideration transferred over the fair value of the net tangible and intangible assets acquired resulted in goodwill of $64,069, which was attributable primarily to the estimated earnings power of the future products and services expected to be produced by IZI, new customer expansion opportunities in adjacent markets that were expected to result from the business combination with the Company, and the potential to acquire or merge with other businesses. The goodwill was assigned to the Medical Products reporting segment.  For income tax purposes, the Company is amortizing goodwill of $64,641 over 15 years.  The Company acquired customer relationships, trademarks and tradenames, and patents valued at $23,000,  $2,000 and $2,000, respectively, that are being amortized over periods ranging from seven to ten years.  For income tax purposes, the values of the customer relationships, trademarks and tradenames, and patents are being amortized over 15 years.