XML 25 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Acquisitions
9 Months Ended
Sep. 30, 2013
Acquisitions  
Acquisitions

2.              Acquisitions

 

The results of operations for our acquisitions have been included in our unaudited consolidated financial statements from the respective dates of acquisition.

 

MedRecovery Management, LLC. (MRM)

 

In December 2012, we acquired the assets and liabilities of MRM, for an aggregate purchase price of $11.7 million, consisting of a $10.8 million initial cash payment and $0.9 million in future contingent payments that are based on the achievement of certain performance milestones. We recognized $1.9 million of goodwill in connection with our acquisition of MRM.

 

During the three months ended June 30, 2013, we finalized the valuation of intangibles and future contingent consideration related to this acquisition. Based on our valuation of the MRM acquisition, the intangible assets and future contingent consideration on the acquisition date were $9.2 million and $0.9 million, respectively. The consolidated balance sheet for the year ended December 31, 2012, was retrospectively adjusted to increase the carrying amount of intangible assets by $9.2 million, decrease the carrying value of future contingent consideration by $0.1 million and decrease the carrying value of goodwill by $9.3 million. Of the total intangible assets acquired, $8.9 million was related to client relationships and has an amortization period of seven years and $0.3 million was related to restrictive covenants and has an amortization period of two years.