ACQUISITIONS

12 Months Ended

Jun. 30, 2016

ACQUISITIONS [Abstract]

ACQUISITIONS

NOTE 10 – ACQUISITIONS

Effective on July 17, 2015, the Company acquired Alpha Bio/Med Services LLC, a route-based pickup service located in Pennsylvania for total cash consideration of $0.7 million of which $0.1 million was withheld for payment of adjusted escrow amounts in July 2016. 

The following amounts represent the fair value of the assets acquired and liabilities assumed: 

Accounts receivable	$	51
Fixed assets		70
Intangibles		267
Goodwill		413
Accounts payable and accrued liabilities		(101	)
Total purchase price	$	700

Effective on December 14, 2015, the Company acquired Bio-Team Mobile LLC, a route-based pickup service located in Pennsylvania for total cash consideration of $1.0 million of which $0.1 million has been withheld for possible settlement amounts through December 2016.

The following amounts represent the fair value of the assets acquired and liabilities assumed: 

Accounts receivable	$	42
Fixed assets		68
Intangibles		313
Goodwill		626
Accounts payable and accrued liabilities		(16	)
Total purchase price	$	1,033

During the year ended June 30, 2016, the Company incurred $0.2 million of acquisition related expenses for investment banking, legal and accounting fees which are included within selling, general and administrative expenses on our condensed consolidated statements of income.  The results of operations of the acquired business have been included in the condensed consolidated statements of income from the date of acquisition.   The goodwill recorded as of June 30, 2016 will be deductible for income taxes.

The results of operations for the acquisitions during the year were not individually or in the aggregate material to the Company’s financial position.  Additionally, the acquisitions pro forma results would not have a material impact on the Company’s results had the acquisitions occurred at the beginning of the current or previous year.