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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES:      
Net income (loss) $ 64,743 $ 74,564 $ (3,519)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Loss from discontinued operations, net of tax 0 0 10,370
Depreciation and amortization 88,945 72,665 58,863
Non-cash impairment charges 3,290 0 380
Deferred income tax benefit (67,304) (6,474) (351)
Non-cash valuation allowance 0 0 37,210
Share-based compensation 21,550 17,310 15,450
Amortization of debt issuance costs 2,722 2,529 2,264
Non-cash interest expense 0 8,074 7,911
Realized loss on sale of sale of short-term investment 2,287 0 0
Loss on disposal of property and equipment 6,989 1,765 481
Gain on divestiture of business (2,645) 0 0
Change in fair value of contingent consideration and others (4,710) (13) (177)
Gain on bargain purchase 0 0 (1,111)
Payment of accreted interest 0 (42,786) (384)
Changes in assets and liabilities, net of business acquisitions:      
Accounts receivable (89,698) (17,518) (16,231)
Inventories 99 (9,576) (3,759)
Prepaid expenses and other current assets (33,808) 14,912 (233)
Other non-current assets (914) (475) 610
Accounts payable, accrued expenses and other current liabilities 95,321 (414) 8,208
Deferred revenue 3,874 1,251 136
Other non-current liabilities 23,803 591 945
Net cash provided by operating activities of continuing operations 114,544 116,405 117,063
Net cash used in operating activities of discontinued operations 0 0 (12,209)
Net cash provided by operating activities 114,544 116,405 104,854
INVESTING ACTIVITIES:      
Change in restricted cash 0 4,165 (4,087)
Proceeds from sale of short-term investments 16,951 0 0
Proceeds from note receivable 483 0 0
Cash used in business acquisitions, net of cash acquired (1,241,946) 225 (328,888)
Purchases of property and equipment (43,503) (47,328) (33,413)
Proceeds from sales of property and equipment 293 316 1,438
Proceeds from divestiture of business 46,387 0 0
Net cash used in investing activities of continuing operations (1,221,335) (42,622) (364,950)
Net cash used in investing activities of discontinued operations 0 0 (7,060)
Net cash used in investing activities (1,221,335) (42,622) (372,010)
FINANCING ACTIVITIES:      
Borrowings under senior credit facility 1,307,000 680,000 545,000
Repayments under senior credit facility (117,000) (511,250) (465,625)
Net cash paid for contingent consideration (4,661) 0 0
Proceeds from the issuance of common stock, net of issuance costs 0 0 219,669
Distribution to SeaSpine 0 0 (47,013)
Payment of liability component of convertible notes 0 (184,313) (2,519)
Payment of capital lease obligation 0 (653) (709)
Debt issuance costs (19,043) (4,530) (1,426)
Proceeds from exercised stock options 9,774 10,481 7,345
Cash taxes paid in net equity settlement (7,123) (4,851) (6,580)
Net cash provided by (used in) financing activities 1,168,947 (15,116) 248,142
Effect of exchange rate changes on cash and cash equivalents 10,724 (4,744) (4,848)
Net increase (decrease) in cash and cash equivalents 72,880 53,923 (23,862)
Cash and cash equivalents at beginning of period 102,055 48,132 71,994
Cash and cash equivalents at end of period $ 174,935 $ 102,055 $ 48,132