Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Liabilities
Madryn put option liability	$	2,630	$	—	$	—	$	2,630
	$	2,630	$	—	$	—	$	2,630

	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)

	September 30, 2020	December 31, 2019
Interest rate volatility	20.3%	21.4%
Market yield rate	9.8%	10.1%
Term (in years)	5.00	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
Issuance of financial instruments	—		1,356
Change in fair value	(568)		(2,843)
Settlement	(630)		—
Balance at September 30, 2019	$	630	$	3,281
Balance at December 31, 2019	$	922	$	3,072
Change in fair value	(304)		(442)
Settlement	(618)		—
Balance at September 30, 2020	$	—	$	2,630