ACQUISITION

6 Months Ended

Dec. 31, 2015

ACQUISITION [Abstract]

ACQUISITION

NOTE 12 – ACQUISITIONS

Effective on July 17, 2015, the Company acquired Alpha Bio/Med Services LLC, a route-based pickup service located in Pennsylvania for total cash consideration of $0.7 million of which $0.1 million has been withheld for possible settlement amounts through July 2016. 

The following amounts represent the fair value of the assets acquired and liabilities assumed: 

Accounts receivable	$	51
Fixed assets		70
Intangibles		267
Goodwill		413
Accounts payable and accrued liabilities		(101	)
Total purchase price	$	700

Effective on December 14, 2015, the Company acquired Bio-Team Mobile LLC, a route-based pickup service located in Pennsylvania for total cash consideration of $1.0 million of which $0.1 million has been withheld for possible settlement amounts through December 2016 and $0.3 million of cash consideration that was paid in January 2016.

The following amounts represent the fair value of the assets acquired and liabilities assumed: 

Accounts receivable	$	42
Fixed assets		68
Intangibles		313
Goodwill		626
Accounts payable and accrued liabilities		(16	)
Total purchase price	$	1,033

During the three and six months ended December 31, 2015, the Company incurred $0.1 million and $0.2 million, respectively, of acquisition related expenses for investment banking, legal and accounting fees which are included within selling, general and administrative expenses on our condensed consolidated statements of income.  The results of operations of the acquired business have been included in the condensed consolidated statements of income from the date of acquisition.   The goodwill recorded as of December 31, 2015 will be deductible for income taxes.