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Note 3 - Acquisitions of Ownership Interests
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Equity Method and Other Investments Disclosure [Text Block]

3. Acquisitions of Ownership Interests

 

2021 Transactions

 

The Company funded $1.7 million to Aktana, Inc. during the three months ended September 30, 2021. The Company had previously deployed an aggregate of $14.2 million. Aktana helps its customers improve their commercial effectiveness by delivering data-driven insights and suggestions directly to sales reps, coordinating multi-channel actions and providing insight regarding which strategies work best for which customers under which conditions.

 

Syapse raised $68 million of preferred equity during the three months ended March 31, 2021, which reduced the Company's ownership interest to approximately 11.1%.  The Company recorded a $7.3 million dilution gain as a result of this transaction, which is included in Equity income (loss), net in the Consolidated Statements of Operation.  Syapse drives healthcare transformation through precision medicine, enabling provider systems to improve clinical outcomes, streamline operations, and shift to new payment models.

 

The Company funded $1 million of convertible loans to Trice Medical, Inc. during the three months ended June 30, 2021.  The Company had previously deployed an aggregate of $10.8 million.  Trice Medical is foucsed on orthopedic diagnostics using fully integrated camera-enabled technologies to provide clinical solutions to physicians.  During the three months ended September 30, 2021, Trice Medical raised additional preferred equity which reduced the Company's ownership interest to 12.6%.  The Company's existing convertible loans and related interst in Trice Medical were also converted into this new class of preferred equity.  As a result of this transaction, the Company recorded a $2.0 million dilution gain for the year ended December 31, 2021.

 

2020 Transactions

 

The Company deployed an additional $2.5 million to Aktana, Inc.


       The Company deployed an additional $4.4 million to Syapse, Inc.

 

The Company deployed an additional $1.0 million to meQuilibrium.

 

The Company funded an additional $0.7 million of convertible loans to Trice Medical, Inc.

 

The Company deployed an aggregate of $0.2 million to Clutch Holdings.

 

The Company funded an additional $0.2 million of convertible loans to QuanticMind.  See Note 2 for impairment recorded in 2020 and the sale of this ownership interest in 2021.

 

The Company funded an aggregate of $0.1 million of convertible loans to WebLinc, Inc. See Note 2 for impairment recorded in 2020 and the sale of this ownership interest in 2021.