Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

(6) Segment Information

Effective January 1, 2021, we identified two reportable segments: Healthcare Solutions and Industrial Solutions.

This change in reportable segments was necessitated as a result of changes to our enterprise-wide financial reporting to reflect the re-organization of the business into the Healthcare Solutions and Industrial Solutions verticals that were launched January 1, 2021 at the request of our CODM. These changes resulted in revisions to the financial information provided to the CODM on a recurring basis in his evaluation of the financial performance of the Company and in the decision-making process driving future operating performance. However, the CODM does not review disaggregated asset information on the basis of the Company's segments; therefore, such information is not presented. In addition, our results for the fiscal year ended December 31, 2020 have not been presented on the basis of our revised segmentation as the Company did not report those results internally or externally on the basis of Healthcare versus Industrial. Accordingly, restating our results for the period based upon our revised segmentation was not practicable.

The following tables set forth our operating results by segment for the years ended December 31, 2022 and 2021:

	Year Ended December 31,
	2022						2021
	Healthcare		Industrial		Consolidated		Healthcare		Industrial		Consolidated
(in thousands)
Revenue	$	260,988	$	277,043	$	538,031	$	306,184	$	309,455	$	615,639
Cost of sales	162,222		161,576		323,798		170,434		181,427		351,861
Gross profit	98,766		115,467		214,233		135,750		128,028		263,778
Less:
Segment operating expenses	72,954		92,630		165,584		66,392		79,473		145,865
Segment operating income	$	25,812	$	22,837	48,649		$	69,358	$	48,555	117,913
General corporate expense, net(a)					165,668						150,982
Operating (loss)					$	(117,019)					$	(33,069)

(a) General corporate expense, net includes expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs.

For the year ended December 31, 2022, depreciation and amortization expense was $6,450 for Healthcare Solutions, $10,472 for Industrial Solutions, and $19,650 for corporate. For the year ended December 31, 2021, depreciation and amortization expense was $7,355 for Healthcare Solutions, $13,713 for Industrial Solutions, and $13,643 for corporate.

As of December 31, 2022, and 2021, long-lived assets in the United States totaled $67,334 and $71,611, respectively, and long-lived assets outside of the United States totaled $33,484 and $32,002 respectively.