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Note 6 - Intangible Assets
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
6.
Intangible Assets
 
Intangible assets as of
March 31, 2020
and
December 31, 2019
consisted of the following:
 
        Three months ended March 31, 2020
    Gross
Value		   Less: Accumulated
Currency Translation
Adjustment		   Less:
Current Period
Impairment Charge		   Less:
Accumulated
Amortization		   Net Book
Value		   Weighted
Average Useful
Life
Developed technology   $
93,953
     $
(2,986
 )   $
(318
 )   $
(9,958
 )   $
80,691
      
15
  
In-process research & development    
5,006
      
(1,296
 )    
-
      
-
      
3,710
      
Indefinite
  
Customer relationships    
9,000
      
-
      
-
      
(99
 )    
8,901
      
10
  
Distributor relationships    
4,700
      
(415
 )    
-
      
(4,285
 )    
-
      
5
  
Patents    
1,000
      
(182
 )    
-
      
(543
 )    
275
      
16
  
Tradenames    
5,200
      
-
      
-
      
(59
 )    
5,141
      
5
  
Total   $
118,859
     $
(4,879
 )   $
(318
 )   $
(14,944
 )   $
98,718
      
13
  
 
        December 31, 2019
    Gross
Value		   Less: Accumulated
Currency Translation
Adjustment		   Less:
Current Period
Impairment Charge		   Less:
Accumulated
Amortization		   Net Book
Value		   Weighted
Average Useful
Life
Developed technology   $
17,100
     $
(2,934
 )   $
(389
 )   $
(9,657
 )   $
4,120
      
15
  
In-process research & development    
4,406
      
(1,234
 )    
–
      
–
      
3,172
      
Indefinite
  
Distributor relationships    
4,700
      
(415
 )    
–
      
(4,285
 )    
–
      
5
  
Patents    
1,000
      
(176
 )    
–
      
(531
 )    
293
      
16
  
Elevess tradename    
1,000
      
–
      
–
      
(1,000
 )    
–
      
9
  
Total   $
28,206
     $
(4,759
 )   $
(389
 )   $
(15,473
 )   $
7,585
      
11
  
 
The aggregate amortization expense related to intangible assets was
$1.3
million and
$0.3
million for the
three
-month periods ended
March 31, 2020
and
2019,
respectively.
 
In the
first
quarter of
2020,
the Company acquired Parcus Medical and Arthrosurface as discussed in Note
3,
which resulted in an increase of
$92.9
million of gross value in intangible assets. During the quarter ended
March 31, 2020,
the Company determined that it will
not
pursue CE Mark renewals for certain of its products, which resulted in an impairment of
$0.3
million in the
three
-month period ended
March 31, 2020.
The impairment is included in the selling, general & administrative expenses on our condensed consolidated statements of operations.
 
The Company assessed the recoverability of intangible and long-lived assets besides goodwill and concluded
no
impairments existed as of
March 31, 2020.
If the pandemic's economic impact is more severe, or if the economic recovery takes longer to materialize or does
not
materialize as strongly as anticipated, this could result in intangible or long-lived asset impairment charges.