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Note 9 - Subsequent Event
6 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

9. Subsequent event


On July 31, 2014, the Company acquired substantially all of the assets of Boulder Diagnostics, Inc., or Boulder, a privately owned company that is developing immunology-based assays for rheumatology and infectious diseases. The assets acquired mainly relate to assays for Lyme disease and gout and an assay to help select biologics for autoimmune disease based on monitoring and prognosis of drug response. As part of the transaction, Boulder has transferred to the Company all shares of capital stock in its wholly-owned subsidiary Boulder Diagnostics Europe GmbH, such that the Company has become the sole owner of Boulder Diagnostics Europe GmbH.


The purchase price for Boulder includes initial consideration of approximately $1.8 million in cash, subject to certain adjustments. $183,200 of the purchase price has been placed in an escrow account for a period of 24 months as security for any undisclosed liabilities and as indemnification for certain items. This escrow account will be included in other liabilities in the Company’s condensed consolidated balance sheet. The terms of the purchase agreement also provide for up to $6.1 million of contingent consideration payable to Boulder at any time on or prior to July 31, 2024, upon the successful completion of various performance milestones.