Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

Acquisition of W.O.M. World of Medicine

On July 3, 2017, the Company acquired 100% of the outstanding stock of W.O.M. World of Medicine GmbH (“WOM”), a Berlin, Germany-based provider of medical insufflators, pumps, and related disposables for OEMs in the minimally invasive surgical market, for a total purchase price of €117.3 million ($134.0 million), subject to customary working capital adjustments. The acquisition was financed with a €118.0 million draw-down on the Company’s revolving credit facility. WOM will be included in the Company’s Vision reportable segment. Information required by ASC 805-10, “Business Combinations,” is not disclosed herein as the Company is in the process of completing its purchase accounting evaluation, including purchase price allocation and other related disclosures.

Third Amendment to Second Amended and Restated Credit Agreement

On August 1, 2017, the Company entered into an amendment (the “Third Amendment”) to the Second Amended and Restated Credit Agreement, dated as of May 19, 2016. The Third Amendment increases the revolving credit facility commitment under the Second Amended and Restated Credit Agreement by $100 million from $225 million to $325 million and resets the accordion feature to $125 million for future expansion. Additionally, the Third Amendment increases the current term loan balance of $65.6 million to $90.6 million.