Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Acquisition

Schedule of proforma net revenue and operating income

	Year ended December 31,
Pro-forma financial information:	2019		2018
Net revenue	$	551,754,097	$	477,649,368
Operating income		31,304,194		25,352,321

Summary of results of business acquired

	Year ended December 31,
	2019		2018
Net revenue	$	53,295,178	$	107,047,267
Operating income (loss)		7,406,919		(6,597,299)

Significant acquisitions in 2019

Business Acquisition

Summary of estimated fair values of the net assets acquired

	Goulds		SleepMed	Choice	Other	Total
Cash	$	—	—	—	91,894	91,894
Accounts receivable		3,968,011	—	758,558	678,491	5,405,060
Inventory		2,452,777	266,759	33,880	1,507,625	4,261,041
Prepaid and other current assets		11,835	—	110,212	—	122,047
Equipment and other fixed assets		3,352,330	1,401,491	107,120	6,107,790	10,968,731
Goodwill		17,947,636	14,064,750	18,908,961	14,348,123	65,269,470
Contract liabilities		(509,000)	(328,000)	(22,000)	(849,995)	(1,708,995)
Accounts payable and accrued expenses		(2,959,245)	—	(1,212,899)	(744,349)	(4,916,493)
Net assets acquired	$	24,264,344	15,405,000	18,683,832	21,139,579	79,492,755

Significant acquisitions in 2018

Business Acquisition

Summary of estimated fair values of the net assets acquired

	PPS		Verus	HME	Other	Total
Cash	$	407,456	1,449,817	100,000	57,000	2,014,273
Accounts receivable		12,126,481	7,795,765	2,200,774	445,000	22,568,020
Inventory		1,344,535	2,923,211	75,493	674,678	5,017,917
Prepaid and other current assets		995,048	466,114	35,960	—	1,497,122
Equipment and other fixed assets		20,357,062	5,895,113	2,165,448	3,229,983	31,647,606
Deferred tax asset		—	6,525,269	—	—	6,525,269
Other assets		1,927,355	838,008	37,956	—	2,803,319
Goodwill		49,660,338	91,829,157	13,230,987	10,037,339	164,757,821
Accounts payable and accrued expenses		(20,484,673)	(11,963,664)	(3,180,531)	(995,000)	(36,623,868)
Contract liabilities		(1,677,813)	(306,194)	(341,667)	—	(2,325,674)
Capital lease obligations		(6,395,438)	(3,793,103)	(1,074,420)	—	(11,262,961)
Deferred tax liability		(321,974)	—	—	—	(321,974)
Other long-term liabilities		(738,099)	(1,260,225)	—	—	(1,998,324)
Net assets acquired	$	57,200,278	100,399,268	13,250,000	13,449,000	184,298,546