ACQUISITIONS AND PRO FORMA RESULTS (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes the preliminary allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:

	Preliminary Purchase Price Allocation
	(Dollars in thousands)
Inventory	$	1,143
PP&E	669
Other current assets	11
Intangible assets:			Wtd. Avg. Life:
Supplier Contracts	4,981		2 - 13 Years
Goodwill	9,665
Total assets acquired	16,469
Accrued expenses and other liabilities acquired	753
Deferred tax liability	1,564
Net assets acquired	$	14,152

The following summarizes the preliminary allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:

	Preliminary Purchase Price Allocation
	(Dollars in thousands)
Inventory	$	2,688
Property, plant, and equipment	1,453
Intangible assets:			Life:
Ankle product family	3,210		11 years
Toe product family	460		10 years
Total assets acquired	7,811
Deferred tax liability	700
Net assets acquired	$	7,111

The following summarizes the preliminary allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:

	Preliminary Purchase Price Allocation
	(Dollars in thousands)
Cash	$	1,241
Accounts receivable, net	9,011
Inventory	23,223
Property, plant, and equipment	2,027
Income tax receivable	5,135
Other current assets	2,670
Intangible assets:			Wtd. Avg. Life:
Developed technology	167,400		14 - 16 Years
Contractual relationships	51,345		11 - 14 Years
Leasehold interest	69
Goodwill	147,878
Total assets acquired	409,999
Accrued expenses and other liabilities	9,732
Deferred tax liabilities	87,908
Other non-current liabilities	—
Net assets acquired	$	312,359

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the final allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:

	Final Purchase Price Allocation
	(Dollars in thousands)
Inventory	$	4,800
Property, plant, and equipment	1,246
Intangible assets:			Wtd. Avg. Life:
Technology product rights	20,590		8 - 14 Years
In-process research and development	190		Indefinite
Goodwill	732
Net assets acquired	$	27,558

The following summarizes the final allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:

	Final Purchase Price Allocation
	(Dollars in thousands)
Cash	$	2,195
Inventory	3,155
Prepaid expenses	620
Property, plant, and equipment	3,675
Other current assets	5,025
Intangible assets:			Wtd. Avg. Life:
Trade name	11,990		20 Years
Technology	4,580		15 - 16 Years
Customer relationships	18,130		12 - 16 Years
Goodwill	16,607
Total assets acquired	65,977
Accounts payable and other liabilities	5,910
Net assets acquired	$	60,067

The following summarizes the final allocation of the purchase price as of December 31, 2015 based on the fair value of the assets acquired and liabilities assumed:

	Final Purchase Price Allocation
	(Dollars in thousands)
Inventory deposit	$	4,000
Property, plant, and equipment	438
Intangible assets:			Wtd. Avg. Life:
Technology product rights	239,800		3 - 20 Years
Other	400
Deferred tax assets - long term	12
Goodwill	105,331
Total assets acquired	349,981
Contingent supply liability	5,891
Other	731
Deferred tax liabilities - long term	87,464
Net assets acquired	$	255,895

The following summarizes the final allocation of the purchase price based on fair value of the assets acquired and liabilities assumed:

	Final Purchase Price Allocation
	(Dollars in thousands)
Cash	$	85
Prepaid expenses	13
Intangible assets:			Wtd. Avg. Life:
Technology	5,040		10 - 14 years
In-process research and development	340		Indefinite
Deferred tax asset - long term	1,334
Goodwill	116
Total assets acquired	6,928
Accounts payable and other liabilities	111
Deferred tax liability	2,152
Net assets acquired	$	4,665

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

A reconciliation of the opening balances to the closing balances of these Level 3 measurements is as follows (in thousands):

				Location in Statement of Operations
Balance as of January 1, 2015	$	22,008
Write-off of Metasurg contingent consideration	(650		)	Selling, general, and administrative
Loss from decrease in fair value of contingent consideration liability	473			Selling, general and administrative
Fair value at December 31, 2015	$	21,831

Pro Forma Financial Information, Summary of Results of Operations

The impact of the Tarsus acquisition is not material to the consolidated operating results of the Company; therefore, the pro-forma impact of the acquisition has not been presented.

	Year Ended December 31,
	2015		2014		2013
	(In thousands except per share amounts)
Total revenue from continuing operations	$	940,005	$	921,998	803,073
Net income from continuing operations	$	10,694	$	40,721	35,796
Net income from continuing operations per share:
Basic	$	0.31	$	1.26	$	1.10