COMMITMENTS AND CONTINGENCIES

9 Months Ended

Dec. 31, 2017

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 13. COMMITMENTS AND CONTINGENCIES

Commitments

We have purchase commitments, consisting of supply and inventory related agreements, totaling approximately $2.2 million as of December 31, 2017. These purchase order commitments primarily include our purchase obligations to purchase from Diatron of Hungary through fiscal 2018.

In April 2017, we entered into a joint development agreement with the diagnostics division of a medical products company, whereby we were subject to payments of up to $10.2 million, in consideration of development efforts, over an estimated period of four years. Our payment obligations were contingent upon the achievement of certain development milestones. In November 2017, prior to the achievement of any such development milestones, both parties agreed to terminate the joint development agreement and as of December 31, 2017, we had no outstanding obligations under this agreement.

See Note 8, “Investments in Unconsolidated Affiliates,” for information on commitments due in connection with our investment in a privately-held company.

Litigation

We are involved from time to time in various litigation matters in the normal course of business. There can be no assurance that existing or future legal proceedings arising in the ordinary course of business or otherwise will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flows.