Contingently Issuable Common Stock

12 Months Ended

Dec. 31, 2011

Loss Contingency [Abstract]

Contingencies Disclosure [Text Block]

Contingently Issuable Common Stock

On December 10, 2010 (the “Closing Date”), the Company completed its acquisition of Nellix, a pre-revenue, AAA medical device company. The purchase price consisted of $3.2 million of the Company's common shares issuable to the former Nellix stockholders as of the Closing Date, then representing a value of $19.4 million. In addition, after the Closing Date, a maximum $39.0 million payment solely in the form of the Company's common shares (the “Contingent Payment”), will be made upon the achievement of certain revenue and regulatory approval milestones (the “Nellix Milestones”). The Contingent Payment will be calculated as of the date each milestone is achieved, using an applicable per share price, which is subject to a floor, and/or ceiling.

As of the Closing Date, the fair value of the Contingent Payment was estimated to be $28.2 million. This value was derived using a discounted income approach model, with a range of probabilities and assumptions (which included Level 3 inputs - see Note 2(g)) and the Company's stock price as of that date. As of December 31, 2011, the probabilities and assumptions used in developing the Contingent Payment value, changes in the Company's stock price, and expected timing of milestone achievement (which included Level 3 inputs), have required certain adjustments from the Closing Date and subsequent reported dates.

The Company's per share price of its common stock increased by $5.42 per share, or 89.4%, between the Closing Date and December 31, 2011, which materially affected the fair value of the Contingent Payment as of December 31, 2011.

The Contingent Payment fair value will continue to be evaluated on a quarterly basis until milestone achievement occurs, or until the expiration of the "earn-out period," as defined within the Nellix purchase agreement. Adjustments to the fair value of the contingent payment will be recognized in the consolidated statements of operations.

	Fair Value of Contingently Issuable Common Stock
December 31, 2010	$	28,200
Fair value adjustment of Contingent Payment through December 31, 2011	10,500
December 31, 2011	$	38,700