Note 5 - Related Party Transactions

9 Months Ended

Feb. 29, 2016

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

5. RELATED PARTY TRANSACTIONS

In connection with the acquisition of Immucor in fiscal 2012, the Company entered into a management services agreement with TPG Capital, L.P. (the “Sponsor”). Pursuant to such agreement and in exchange for on-going consulting and management advisory services that are being provided to the Company, the Sponsor receives an aggregate annual monitoring fee of approximately $3.0 million. In the three months and nine months ended February 29, 2016, approximately $0.8 million, and $2.4 million, respectively, was recorded for the monitoring fees, additional services provided by the Sponsor, and out-of-pocket expenses. In the three months and nine months ended February 28, 2015, $0.9 million, and $2.9 million, respectively, was recorded for these same types of fees and expenses. These expenses are included in general and administrative expenses in the Company’s consolidated statements of operations. As of February 29, 2016 and May 31, 2015, the Company owed $0.8 million and $0.7 million, respectively, to the Sponsor for these fees and expenses.