Acquisitions (Tables)

3 Months Ended

Mar. 31, 2017

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The purchase price was allocated to the net tangible and intangible assets acquired and liabilities assumed, based on estimated fair values, as follows (in thousands):

Assets Acquired
Trade receivables	$	4,054
Other receivables	6
Inventories	8,585
Prepaid expenses	630
Property and equipment	1,630
Other long-term assets	145
Intangibles
Developed technology	67,600
Customer lists	2,400
Trademarks	4,400
Goodwill	24,818
Total assets acquired	114,268
Liabilities Assumed
Trade payables	(1,790		)
Accrued expenses	(5,298		)
Deferred income tax liabilities - current	(701		)
Deferred income tax liabilities - noncurrent	(10,844		)
Total liabilities assumed	(18,633		)
Net assets acquired, net of cash received of $1,327	$	95,635

The purchase price was preliminarily allocated as follows (in thousands):

Assets Acquired
Trade receivables	$	952
Inventories	2,244
Prepaid expenses and other current assets	181
Property and equipment	1,472
Intangibles
Developed technology	22,900
Customer lists	100
Trademarks	2,900
Goodwill	7,612
Total assets acquired	38,361
Liabilities Assumed
Trade payables	(338		)
Accrued expenses	(23		)
Total liabilities assumed	(361		)
Net assets acquired	$	38,000

The purchase price was allocated as follows (in thousands):

Assets Acquired
Inventories	$	2,455
Property and equipment	290
Intangibles
Developed technology	12,100
Trademarks	700
Customers Lists	400
Goodwill	2,555
Total assets acquired	$	18,500

The following table summarizes the preliminary purchase price allocated to the net tangible and intangible assets acquired and liabilities assumed (in thousands):

Assets Acquired
Cash and cash equivalents	$	1,436
Trade receivables	8,351
Inventories	12,217
Prepaid expenses	1,275
Property and equipment	2,667
Deferred tax assets	184
Intangibles
Developed technology	2,600
Customer lists	1,300
Trademarks	1,500
Total assets acquired	31,530
Liabilities Assumed
Trade payables	(2,306		)
Accrued expenses	(5,083		)
Income taxes payable	(2		)
Deferred income tax liabilities	(999		)
Total liabilities assumed	(8,390		)
Total net assets acquired	23,140
Gain on bargain purchase	(12,243		)
Total purchase price	$	10,897

Business Acquisition, Pro Forma Information

The following table summarizes our consolidated results of operations for the three-month periods ended March 31, 2017 and 2016, as well as unaudited pro forma consolidated results of operations as though the DFINE acquisition had occurred on January 1, 2015 and the acquisition of the Argon critical care business had occurred on January 1, 2016 (in thousands, except per share amounts):

	Three Months Ended				Three Months Ended
	March 31, 2017				March 31, 2016
	As Reported		Pro Forma		As Reported		Pro Forma
Net Sales	$	171,069	$	173,829	$	138,077	$	156,390
Net Income	14,803		1,725		4,351		12,281
Earnings per common share:
Basic	$	0.33	$	0.04	$	0.10	$	0.28
Diluted	$	0.32	$	0.04	$	0.10	$	0.28