Subsequent Events (Notes)

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Note 14. Subsequent Events

On January 5, 2018, the Company entered into a sale and leaseback transaction for the San Diego property on Summers Ridge Road that was acquired as part of the Triage Business from Alere discussed in Note 12 and is included as assets held for sale on the Consolidated Balance Sheet as of the year ended December 31, 2017. The Company sold the Summers Ridge property for net consideration of $146.6 million. In addition, the Company entered into a lease agreement with the buyer to lease two of the four buildings on the Summers Ridge campus for a term of 15 years.

On January 11, 2018, the Company used $100.0 million of net cash proceeds from the sale and leaseback transaction to pay down a portion of the existing Term Loan under its Credit Agreement described in Note 3. Following the payment, the Company has approximately $145.0 million remaining in Term Loan outstanding. Separately, the Company also repaid the entire outstanding $10.0 million balance on its Revolving Credit Facility under the Credit Agreement.