TriVascular Merger (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Purchase Consideration Given in Acquisition

The total purchase consideration given related to the acquisition follows:



Cash consideration	$	84,634
Common stock consideration	100,812
Fair value of assumed TriVascular stock warrants	44
Total purchase consideration	$	185,490

Summary of Allocation of Purchase Consideration

The following presents the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed on February 3, 2016 (in thousands):



Cash and cash equivalents	$	24,012
Short-term investments	3,008
Accounts receivable	5,563
Inventories	17,546
Prepaid expenses and other current assets	1,818
Property and equipment	3,152
Intangible assets	73,171
Other assets	317
Accounts payable	(2,214		)
Accrued liabilities and other	(5,811		)
Notes payable	(61		)
Net assets acquired	$	120,501
Goodwill	$	64,989
Total preliminary purchase consideration	$	185,490

Summary of Pro Forma Financial Information of Acquisition

The pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the merger had occurred as of January 1, 2015 or that may be obtained in the future, and do not reflect future synergies, integration costs, or other such costs or savings.



	Three Months Ended
	March 31,
	2016			2015
Pro forma net sales	$	45,037		$	44,696
Pro forma net loss from continuing operations	(49,031		)	(28,622		)
Pro forma basic and diluted net loss per share	$	(0.60	)	$	(0.35	)

Included in the Condensed Consolidated Statement of Operations and Comprehensive Loss are net sales from products acquired as part of the TriVascular merger of $5,796 for the quarter ended March 31, 2016. Net losses included in the Condensed Consolidated Statement of Operations and Comprehensive Loss from the TriVascular operations for the quarter ended March 31, 2016 have not been reported as it is impracticable to do so given the integration and other efficiency and cost saving measures in process during the quarter ended March 31, 2016.

Schedule of Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2016 are as follows (in thousands):



Balance at January 1, 2016	$	28,685
Goodwill acquired from the Merger	64,989
Foreign currency translation adjustment	57
Balance at March 31, 2016	$	93,731