Acquisition

6 Months Ended

Jun. 30, 2017

Acquisition

Acquisition

3.Acquisition

On April 28, 2017, we completed the acquisition of certain assets of a surgical laser equipment service provider for total consideration of approximately $6.3 million.  The consideration consisted of $5.6 million of cash paid at closing and $0.7 million of holdback and earnout. The acquisition was funded from our senior secured credit facility. The results of the acquired company’s operations have been included in the consolidated financial statements since that date.

The following summarized the fair value of assets acquired and liabilities assumed at the date of acquisition within our consolidated balance sheet:

(in thousands)
Inventories	$	50
Property and equipment		931
Goodwill		2,144
Intangible assets		3,192
Accrued compensation		(14)
Total purchase price	$	6,303