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Acquisitions (Notes)
12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block] ACQUISITIONS
2019 Acquisitions

    On November 2, 2019, we acquired 100% interest in Pursuit for cash consideration of approximately $75.0 million. Additionally, Pursuit's equity holders are potentially entitled up to $50.0 million in additional cash consideration contingent upon the achievement of certain sales and gross profit targets for specific customers. The earn-out paid will be calculated as a percentage of gross profit achieved during the earn-out period against a pre-determined target gross profit. However, the earn-out is not to exceed $50.0 million. The acquisition of Pursuit and their ClearGuard HD is a natural extension of our needlefree IV connector and other infection control technologies, which together provides us the best of breed solutions.
    
Final Purchase Price
    
    The following table summarizes the final purchase price and the final allocation of the purchase price related to the assets and liabilities purchased (in thousands):
Cash consideration for acquired assets, net$71,533 
Fair value of contingent consideration 17,300 
Total Consideration$88,833 
Final Purchase Price Allocation:
Trade receivables$973 
Inventories2,464 
Prepaid expenses and other current assets74 
Property, plant and equipment609 
Intangible assets(1)
82,300 
Accounts payable(215)
Accrued liabilities(2,065)
Total identifiable net assets acquired$84,140 
Goodwill - not tax deductible20,462 
Deferred tax liability(15,769)
Purchase Consideration$88,833 
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(1) Identifiable intangible assets included $69.0 million of developed technology, $10.8 million of trade name and $2.5 million of non-compete agreement. The weighted amortization period for the total identifiable intangible assets is approximately fifteen years for developed technology, and trade name the weighted amortization period is fifteen years, and for the non-compete agreement the weighted amortization period is three years.

    The identifiable intangible assets acquired have been valued as Level 3 assets at fair market value. The estimated fair value of identifiable intangible assets were developed using the income approach and are based on critical estimates, judgments and assumptions derived from: analysis of market conditions; discount rate; discounted cash flows; royalty rates; and estimated useful lives. Fixed assets were valued with the consideration of remaining economic lives. The raw materials inventory was valued at historical cost and adjusted for any obsolescence and finished goods inventory was valued at estimated sales proceeds less a nominal profit and costs to sell. The trade receivables, prepaid expenses and other current assets and assumed liabilities were recorded at their carrying values as of the date of the acquisition, as their carrying values approximated their fair values due to their short-term nature.

    During 2019, we also acquired a small foreign distributor for approximately $4.6 million in cash.