Business Combinations (Tables)

12 Months Ended

Sep. 27, 2019

The following table summarizes the estimated fair value of assets acquired and liabilities assumed as a result of the CTSI, Endocare and Alicon acquisitions and the embolics microspheres business acquired from Boston Scientific:



(In millions)	CTSI			Endocare and Alicon			Embolics Microspheres Business
Assets acquired ⁽¹⁾	$	52.1		$	33.8		$	22.4
Liabilities assumed ⁽²⁾	(68.0		)	(18.7		)	(16.0		)
Goodwill	186.1			118.5			45.8
Intangible assets	111.8			76.4			37.8
Fair value of net assets	282.0			210.0			90.0
Less: Non-controlling interest ⁽³⁾	5.0			—			—
Total purchase consideration	$	277.0		$	210.0		$	90.0


⁽¹⁾	Includes $4.9 million and $11.5 million of cash and cash equivalents for CTSI and Endocare / Alicon, respectively.


⁽²⁾	Includes $32.9 million and $15.7 million of deferred tax liabilities for CTSI and Endocare / Alicon, respectively.

⁽³⁾

The Company's non-controlling interest is a joint venture that was determined to be a variable interest entity. The Company has concluded that it is the primary beneficiary of the joint venture because it has the ability to control the significant activities of the joint venture, has the right to significant residual returns and is exposed to significant expected losses. The Company has consolidated the joint venture into its results of operations.

Valuation of Intangible Assets Acquired

The following table provides the valuation of the intangible assets acquired from CTSI, Endocare, Alicon, and the embolics microspheres business acquired from Boston Scientific, along with their weighted average estimated useful lives:



(Dollars in millions)	CTSI			Endocare and Alicon			Embolics Microspheres Business
Type	Fair Value		Weighted Average Estimated Useful Life (In Years)	Fair Value		Weighted Average Estimated Useful Life (In Years)	Fair Value		Weighted Average Estimated Useful Life (In Years)
Technologies	$	16.0	7.0	$	58.8	8.1	$	10.6	12.5
Customer contracts, supplier relationships, and partner relationships ⁽¹⁾	50.9		20.9	4.9		8.0	20.9		15.5
Trade names	44.9		17.7	0.4		1.0	6.3		17.0
Total intangible assets with finite lives	111.8			64.1			37.8
In-process R&D with indefinite lives	—			12.3			—
Total intangible assets	$	111.8		$	76.4		$	37.8

⁽¹⁾

CTSI has certain partner relationships with hospitals with useful lives that range from approximately 22 to 23 years.