FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Summary of Estimated Fair Values of Financial Assets and Liabilities Measured on a Recurring Basis

The table which follows summarizes the estimated fair value of the Company’s financial assets and liabilities measured on a recurring basis as of June 30, 2016 and December 31, 2015:

Fair Value Measurements

	June 30, 2016		December 31, 2015
Financial Liabilities:	(amounts in thousands)
(Level 1)
Deferred compensation	$	1,362	$	1,412
(Level 3)
Convertible Notes derivative liability	$	20,472	$	33,337
Contingent purchase price liabilities	$	4,139	$	3,686

Schedule of reconciliation of opening and closing balances for fair value measurements categorized within Level 3

The table which follows reconciles the opening balances to the closing balances for fair value measurements categorized within Level 3 of the fair value hierarchy:

	Contingent Purchase			Convertible Notes
	Price Liabilities (a)			Derivative Liability
	(amounts in thousands)
December 31, 2015	$	3,686		$	33,337
Payments	(17		)	—
Accretion expense	287			—
Valuation gain for the period	—			(16,436		)
March 31, 2016	3,956			16,901
Accretion expense	183			—
Valuation loss for the period	—			3,571
June 30, 2016	$	4,139		$	20,472

_______________

(a) Related to the Mediscan acquisition on October 30, 2015. See Note 3 - Acquisitions. The key assumptions used to calculate the fair value of contingent consideration at the acquisition date remained consistent at June 30, 2016. Accretion expense is included as acquisition-related contingent consideration on the condensed consolidated statement of operations. Should the assumptions regarding probability of achievement of certain targets change in future periods, the change in fair value of the contingent consideration will be recognized, along with accretion expense, as acquisition-related contingent consideration.

Summary of Estimated Fair Values of Financial Assets and Liabilities Measured on a Non-Recurring Basis

The table below presents the fair value of the Physician Staffing goodwill and intangible assets required to be measured at fair value as of June 30, 2016.

Fair Value Measurements
	June 30, 2016
	(amounts in thousands)
(Level 3)
Goodwill	$	25,685
Trade names	$	15,000
Customer relationships	$	1,300

Carrying Amounts and Estimated Fair Values of Significant Financial Instrument that were not Measured at Fair Value

The following table represents the carrying amounts and estimated fair value of the Company’s significant financial instruments that were not measured at fair value:

	June 30, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial Liabilities:			(amounts in thousands)
(Level 2)
Second Lien Term Loan, net	$	—	$	—	$	28,948	$	30,600
Term Loan, net	$	39,593	$	39,593	$	—	$	—
Convertible Notes, net	$	19,658	$	28,500	$	18,993	$	23,250
Senior Secured Asset-Based Loan	$	—	$	—	$	8,000	$	8,000