XML 31 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 3 - Related Party Transactions
9 Months Ended
Feb. 28, 2014
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

3.    RELATED PARTY TRANSACTIONS


In connection with the acquisition of Immucor in the first quarter of fiscal 2012, the Company entered into a management services agreement with TPG Capital, L.P. (the “Sponsor”) pursuant to which the Sponsor receives an aggregate annual monitoring fee of approximately $3.0 million.  In the three months and nine months ended February 28, 2014, approximately $1.0 million, and $2.9 million was recorded for monitoring fees, additional services provided by the Sponsor, and out-of-pocket expenses, respectively. In the three months and nine months ended February 28, 2013, approximately $1.1 million, and $3.3 million, was recorded for these same types of fees and expenses, respectively. These expenses are included in general and administrative expenses in the consolidated statements of operations. As of February 28, 2014 and May 31, 2013, the Company owed $0.9 million and $0.6 million, respectively, to the Sponsor for these fees.