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Related Party Transactions
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions

12. Related Party Transactions

In July 2016, the Company entered into a forbearance agreement with HealthpointCapital, LLC, HealthpointCapital Partners, L.P., and HealthpointCapital Partners II, L.P. (collectively, "HealthpointCapital"), pursuant to which HealthpointCapital, on behalf of the Company, paid $1.0 million of the $1.1 million payment due and payable by the Company to Orthotec on July 1, 2016 and agreed to not exercise its contractual rights to seek an immediate repayment of such amount. Pursuant to this forbearance agreement, the Company repaid this amount in September 2016.  The Company and HealthpointCapital also entered into an agreement for joint payment of settlement whereby HealthpointCapital has agreed to contribute $5.0 million to the $49.0 million Orthotec settlement amount. In October 2020, HealthpointCapital made its first quarterly $1.0 million payment. During the year ended December 31, 2021, HealthpointCapital made the remaining $4.0 million payments. As of December 31, 2021, there were no contributions due from HealthpointCapital.

In November 2018, the Company entered into the Term Loan and Inventory Financing Agreement with certain affiliates of Squadron Capital, LLC (“Squadron”), including an inventory supplier (the” Squadron Supplier Affiliate”). The Term Loan was amended in March 2019, May 2020, and December 2020.  On August 10, 2021, the Company terminated and repaid all obligations under the Term Loan and the Inventory Financing Agreement. See Note 6 for further details regarding the Term Loan and Inventory Financing Agreement. For the years ended December 31, 2021 and 2020, the Company purchased inventory in the amounts of $7.7 million and $4.0 million, respectively, from the Squadron Supplier Affiliate. As of December 31, 2021 and 2020, the company had $0.8 million and $4.0 million, respectively, due to the Squadron Supplier Affiliate. Squadron was a lead investor in the Private Placement that was closed on March 1, 2021. David Pelizzon, President and Director of Squadron, currently serves on the Company’s Board of Directors.