Technology Partner Innovations, LLC ("TPI")

6 Months Ended

Oct. 28, 2023

Equity Method Investments and Joint Ventures [Abstract]

Technology Partner Innovations, LLC ("TPI")

Technology Partner Innovations, LLC ("TPI")

In fiscal 2019, we entered into an agreement with Cure Partners to form TPI, which offers a cloud-based practice management software, NaVetor, to its customers. Patterson and Cure Partners each contributed net assets of $4,000 to form TPI. Patterson and Cure Partners each contributed additional net assets of $1,000 during the fiscal year ended April 29, 2023, and no additional net assets were contributed during the six months ended October 28, 2023. We have determined that TPI is a variable interest entity, and we consolidate the results of operations of TPI as we have concluded that we are the primary beneficiary of TPI. Since TPI was formed, there have been no changes in ownership interests. As of October 28, 2023, we had noncontrolling interests of $793 on our condensed consolidated balance sheets.

Net loss attributable to the noncontrolling interest was $103 and $424 for the three months ended October 28, 2023 and October 29, 2022, respectively, and $207 and $754 for the six months ended October 28, 2023 and October 29, 2022, respectively.