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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES:      
Net income (loss) $ 74,564 $ (3,519) $ 34,004
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Loss from discontinued operations, net of tax 0 10,370 2,291
Depreciation and amortization 72,665 58,863 46,434
Non-cash impairment charges 0 380 790
Deferred income tax provision (benefit) (6,474) (351) (6,849)
Non-cash valuation allowance 0 37,210 0
Share-based compensation 17,310 15,450 14,554
Amortization of debt issuance costs 2,529 2,264 2,571
Non-cash interest expense 8,074 7,911 7,104
Loss on disposal of property and equipment 1,765 481 909
Change in fair value of contingent consideration and others (13) (177) (764)
Gain on bargain purchase 0 (1,111) 0
Payment of accreted interest (42,786) (384) 0
Changes in assets and liabilities, net of business acquisitions:      
Accounts receivable (17,518) (16,231) (17,145)
Inventories (9,576) (3,759) (24,138)
Prepaid expenses and other current assets 14,912 (233) 16,526
Other non-current assets (475) 610 (10,914)
Accounts payable, accrued expenses and other current liabilities (414) 8,208 811
Deferred revenue 1,251 136 1,118
Other non-current liabilities 591 945 (4,357)
Net cash provided by operating activities of continuing operations 116,405 117,063 62,945
Net cash (used in) provided by operating activities of discontinued operations 0 (12,209) 20,620
Net cash provided by operating activities 116,405 104,854 83,565
INVESTING ACTIVITIES:      
Change in restricted cash 4,165 (4,087) 0
Cash used in business acquisitions, net of cash acquired 225 (328,888) (320,921)
Purchases of property and equipment (47,328) (33,413) (38,340)
Sales of property and equipment 316 1,438 0
Other changes in intangible assets 0 0 (475)
Net cash used in investing activities of continuing operations (42,622) (364,950) (359,736)
Net cash used in investing activities of discontinued operations 0 (7,060) (3,581)
Net cash used in investing activities (42,622) (372,010) (363,317)
FINANCING ACTIVITIES:      
Borrowings under senior credit facility 680,000 545,000 425,000
Repayments under senior credit facility (511,250) (465,625) (195,000)
Proceeds from the issuance of common stock, net of issuance costs 0 219,669 0
Distribution to SeaSpine 0 (47,013) 0
Payment of liability component of convertible notes (184,313) (2,519) 0
Payment of capital lease obligation (653) (709) (605)
Debt issuance costs (4,530) (1,426) (3,210)
Proceeds from exercised stock options 10,481 7,345 15,215
Cash taxes paid in net equity settlement (4,851) (6,580) (2,718)
Net cash (used in) provided by financing activities (15,116) 248,142 238,682
Effect of exchange rate changes on cash and cash equivalents (4,744) (4,848) (7,550)
Net increase (decrease) in cash and cash equivalents 53,923 (23,862) (48,620)
Cash and cash equivalents at beginning of period 48,132 71,994 120,614
Cash and cash equivalents at end of period $ 102,055 $ 48,132 $ 71,994