Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy at period end:

	Fair Value Measurements at June 30, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Liabilities
Madryn put option liability	$	3,509	$	—	$	—	$	3,509
Acquisition-related contingent consideration	623		—		—		623
	$	4,132	$	—	$	—	$	4,132

	Fair Value Measurements at December 31, 2019
	Total		Level 1		Level 2		Level 3
	(in thousands)
Liabilities
Madryn put option liability	$	3,072	$	—	$	—	$	3,072
Acquisition-related contingent consideration	922		—		—		922
	$	3,994	$	—	$	—	$	3,994

Fair Value Measurement Inputs and Valuation Techniques

The Company used the following assumptions to value Madryn derivatives:

Put Option Liability (Madryn)

	June 30, 2020	December 31, 2019
Interest rate volatility	21.8%	21.4%
Market yield rate	11.1%	10.1%
Term (in years)	5.25	5.75
Dividend yield	—	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows:

	Acquisition-related Contingent Consideration		Put Option Liability (Madryn)
Balance at December 31, 2018	$	1,828	$	4,768
Change in fair value	(362)		(2,608)
Balance at June 30, 2019	$	1,466	$	2,160
Balance at December 31, 2019	$	922	$	3,072
Change in fair value	(299)		437
Balance at June 30, 2020	$	623	$	3,509