Acquisition and Strategic Transaction (Notes)

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisition and Strategic Transaction Expenses

On April 4, 2016, we acquired all of the outstanding shares of Tangent Medical Technologies, Inc. ("Tangent") for $2.6 million in cash. Tangent designs, develops, and commercializes intravenous catheters and associated products for the improvement of infusion therapy. Tangent's products enhance our infusion therapy product offering. As a result of the Tangent acquisition, we immediately recognized a $1.1 million bargain purchase gain that represented the excess of the estimated fair market value of the identifiable tangible and intangible assets acquired, liabilities assumed and deferred tax assets over the total purchase consideration. The bargain purchase was driven by our ability to realize acquired deferred tax assets. The purchase price allocation is subject to further adjustment in order to account for final tax related matters such as filing of final tax return.

We incurred $1.1 million in transaction costs during the three and six months ended June 30, 2016 related to our 2015 acquisition of EXC Holding Corp. and to our second quarter 2016 acquisition of Tangent mentioned above.