Preliminary Purchase Prices Allocation |
The purchase price for the 2019 acquisitions has been preliminarily allocated as follows (in thousands):
| | IIPS* | | | Clinic Practice | | | Total | | Cash paid, net of cash acquired ($900) | | $ | 18,427 | | | $ | 12,170 | | | $ | 30,597 | | Payable to shareholders of seller | | | 486 | | | | - | | | | 486 | | Seller note | | | 4,000 | | | | 300 | | | | 4,300 | | Total consideration | | $ | 22,913 | | | $ | 12,470 | | | $ | 35,383 | | | | | | | | | | | | | | | Estimated fair value of net tangible assets acquired: | | | | | | | | | | | | | Total current assets | | $ | 1,907 | | | $ | 697 | | | $ | 2,604 | | Total non-current assets | | | 611 | | | | 3,028 | | | | 3,639 | | Total liabilities | | | (1,504 | ) | | | (2,846 | ) | | | (4,350 | ) | Net tangible assets acquired | | $ | 1,014 | | | $ | 879 | | | $ | 1,893 | | Referral relationships | | | 1,500 | | | | 1,500 | | | | 3,000 | | Non-compete | | | 590 | | | | 700 | | | | 1,290 | | Tradename | | | 2,500 | | | | 1,600 | | | | 4,100 | | Goodwill | | | 17,309 | | | | 14,021 | | | | 31,330 | | Fair value of non-controlling interest (classified as redeemable non-controlling interests) | | | - | | | | (6,230 | ) | | | (6,230 | ) | | | $ | 22,913 | | | $ | 12,470 | | | $ | 35,383 | |
* Industrial injury prevention services
The purchase price for the 2018 acquisitions were allocated as follows (in thousands):
Cash paid, net of cash acquired ($372) | | $ | 16,367 | | Seller notes | | | 950 | | Total consideration | | $ | 17,317 | | | | | | | Estimated fair value of net tangible assets acquired: | | | | | Total current assets | | $ | 1,633 | | Total non-current assets | | | 305 | | Total liabilities | | | (525 | ) | Net tangible assets acquired | | $ | 1,413 | | Referral relationships | | | 2,926 | | Non-compete | | | 298 | | Tradename | | | 990 | | Goodwill | | | 19,835 | | Fair value of non-controlling interest (classified as redeemable non-controlling interests) | | | (8,145 | ) | | | $ | 17,317 | |
The purchase price for the 2017 acquisitions were allocated as follows (in thousands):
Cash paid, net of cash acquired ($2,297) | | $ | 36,682 | | Seller notes | | | 2,150 | | Total consideration | | $ | 38,832 | | Estimated fair value of net tangible assets acquired: | | | | | Total current assets | | $ | 5,853 | | Total non-current assets | | | 1,527 | | Total liabilities | | | (2,865 | ) | Net tangible assets acquired | | $ | 4,515 | | Referral relationships | | | 4,250 | | Non-compete | | | 660 | | Tradename | | | 6,850 | | Goodwill | | | 46,722 | | Fair value of non-controlling interest (classified as redeemable non-controlling interests) | | | (13,883 | ) | Fair value of non-controlling interest (originally classified as mandatorily redeemable non-controlling interests) | | | (10,282 | ) | | | $ | 38,832 | |
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