BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following presents the preliminary allocation of the preliminary purchase price to the assets acquired and liabilities assumed on August 6, 2018:

	(in thousands)
Total Purchase Consideration	$	17,287

Cash and cash equivalents		220
Accounts receivable		1,311
Inventories		2,197
Prepaid expenses and other current assets		361
Property and equipment		13,935
Goodwill		2,342
Total assets acquired		20,366

Accounts payable and other current liabilities		2,413
Deferred revenue		666
Total liabilities assumed		3,079
Net assets acquired	$	17,287

Business Acquisition, Pro Forma Information

The following unaudited pro forma condensed combined financial information summarizes the results of operations for the periods indicated as if the WellSpring acquisition had been completed as of January 1, 2017.

	Three Months Ended				Nine Months Ended
(in thousands)	September 30, 2018		September 30, 2017 (1)		September 30, 2018		September 30, 2017 (1)
Net revenues	$	51,384	$	51,676	$	151,091	$	137,884
Net income	$	4,456	$	8,683	$	7,812	$	10,108

(1)

Net income for the three and nine months ended September 30, 2017 includes the impact to WellSpring of $4.4 million of related party debt forgiveness.