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Business Combinations (Tables)
3 Months Ended
Jun. 30, 2020
eRx Network Holdings, Inc. [Member]  
Business Acquisition [Line Items]  
Summary of Information Related to Acquisition



 

 



eRx

Cash paid at closing

$

249,359 

Fair value of eRx purchase option

 

140,500 

Fair value of vested stock appreciation rights

 

5,097 

Cash paid for canceled eRx equity awards

 

5,891 

Total Consideration Fair Value at Acquisition Date

$

400,847 



 

 

Allocation of the Consideration Transferred:

 

 

Cash

$

54,108 

Accounts receivable, net of allowance of $326

 

12,747 

Prepaid expenses and other current assets

 

609 

Goodwill

 

225,807 

Identifiable intangible assets:

 

 

Customer relationships (life 15 years)

 

106,000 

Internally developed technology (life 8 years)

 

53,000 

Other noncurrent assets

 

20 

Accounts payable

 

(2,543)

Accrued expenses and other current liabilities

 

(10,462)

Deferred income tax liabilities

 

(38,439)

Total consideration transferred

$

400,847 



PDX, Inc. [Member]  
Business Acquisition [Line Items]  
Summary of Information Related to Acquisition



 

 



PDX

Cash

$

962 

Accounts receivable, net of allowance of $1,092

 

5,739 

Prepaid expenses and other current assets

 

2,125 

Property and equipment

 

840 

Goodwill

 

109,267 

Identifiable intangible assets:

 

 

Tradenames (life 20 years)

 

2,000 

Customer relationships (life 15 years)

 

63,000 

Technology-based intangible assets (life 8 years)

 

31,000 

Other noncurrent assets

 

1,041 

Accounts payable

 

(4,242)

Deferred revenue, current

 

(8,629)

Accrued expenses and other current liabilities

 

(4,409)

Other noncurrent liabilities

 

(222)

Total consideration transferred

$

198,472 



The Merger [Member]  
Business Acquisition [Line Items]  
Summary of Information Related to Acquisition



 

 

Net Assets acquired

 

 

Cash

$

330,665 

Accounts receivable, net of allowance of $22,059

 

718,895 

Contract assets

 

132,704 

Prepaid and other current assets

 

115,265 

Investment in business purchase option

 

146,500 

Property and equipment, net

 

206,751 

Goodwill

 

4,362,252 

Other noncurrent assets

 

169,539 

Identified intangible assets:

 

 

Customer relationships (life 12-16 years)

 

3,056,000 

Tradenames (life 18 years)

 

146,000 

Technology-based intangible assets (life 6-12 years)

 

1,188,000 

Drafts and accounts payable

 

(60,637)

Accrued expenses

 

(559,456)

Deferred revenues, current

 

(292,528)

Current portion of long-term debt

 

(28,969)

Other current liabilities

 

(22,732)

Long-term debt, excluding current portion

 

(4,713,565)

Deferred income tax liabilities

 

(579,680)

Tax receivable agreement obligations with related parties

 

(176,586)

Other long-term liabilities

 

(102,675)

Net Assets acquired

$

4,035,743 



 

 

Summary of purchase consideration:

 

 

Fair value of shares issued to SpinCo shareholders

 

 

(175,995,192 shares at $12.47 per share):

 

 

Common Stock, $0.001 par value

$

176 

Additional paid-in capital

 

2,194,484 

Fair value of Joint Venture equity interest previously held

 

1,589,040 

Fair value of Joint Venture equity interest previously held through TEUs

 

216,764 

Settlement of dividend receivable

 

42,778 

Repayment of advances to member

 

(7,499)

Purchase consideration 

$

4,035,743