Technology Partner Innovations, LLC ("TPI")

9 Months Ended

Jan. 27, 2024

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 nine months ended January 27, 2024. 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 January 27, 2024, we had noncontrolling interests of $683 on our condensed consolidated balance sheets.

Net loss attributable to the noncontrolling interest was $110 and $82 for the three months ended January 27, 2024 and January 28, 2023, respectively, and $317 and $836 for the nine months ended January 27, 2024 and January 28, 2023, respectively.