Acquisitions, Investments and Licenses (Tables)

6 Months Ended

Jun. 30, 2016

Accounting Method, Carrying Value and Underlying Equity in Net Assets of Unconsolidated Investments

The following table reflects the accounting method, carrying value and underlying equity in net assets of our unconsolidated investments as of June 30, 2016:



(in thousands)
Investment type	Investment Carrying Value		Underlying Equity in Net Assets
Equity method investments	$	27,429	$	16,254
Variable interest entity, equity method	620		—
Available for sale investments	5,312
Warrants and options	888
Total carrying value of investments	$	34,249

Bio-Reference

Business Acquisition [Line Items]

Purchase Price Allocation

The purchase price allocation for Bio-Reference is preliminary pending completion of the fair value analysis of acquired assets and liabilities:



(In thousands)	Bio-Reference
Purchase price:
Value of OPKO Common Stock issued to Bio-Reference shareholders	$	947,889
Value of replacement stock options awards to holders of Bio-Reference stock options	2,259
Total purchase price	$	950,148

Preliminary value of assets acquired and liabilities assumed:
Current assets
Cash and cash equivalents	$	15,800
Accounts receivable	168,164
Inventory	19,674
Other current assets, principally deferred tax assets	99,116
Total current assets	302,754
Property, plant and equipment	112,457
Intangible assets:
Trade name	47,100
Customer relationships	395,200
Technology	100,600
Other intangible assets	7,750
Total intangible assets	550,650
Goodwill	386,858
Investments	5,326
Other assets	13,265
Total assets	1,371,310
Accounts payable and accrued expenses	(108,217		)
Income taxes payable	(1,014		)
Lines of credit and notes payable	(65,701		)
Capital lease obligations	(18,293		)
Deferred tax liability (non-current)	(227,937		)
Total purchase price	$	950,148

Pro Forma Results

The pro forma results for the three and six months ended June 30, 2015 combines the results of operations of OPKO and Bio-Reference, giving effect to the merger as if it occurred on January 1, 2014, and are based on the individual condensed consolidated statements of operations of OPKO as of June 30, 2015 and Bio-Reference as of April 30, 2015.



(In thousands)	Three months ended June 30, 2015	Six months ended June 30, 2015
Revenues	$266,415	$505,333
Net loss	(40,252)	(157,880)
Net loss attributable to common shareholders	(39,777)	(156,480)

EirGen

Business Acquisition [Line Items]

Purchase Price Allocation

The following table summarizes the final purchase price allocation and the fair value of the net assets acquired and liabilities assumed in the acquisition of EirGen at the date of acquisition:



(In thousands)	EirGen
Current assets ⁽¹⁾	$	11,795
Intangible assets:
IPR&D assets	560
Customer relationships	34,155
Currently marketed products	3,919
Total intangible assets	38,634
Goodwill	83,373
Property, plant and equipment	8,117
Other assets	1,232
Accounts payable and other liabilities	(6,254		)
Deferred tax liability	(3,131		)
Total purchase price	$	133,766

(1)Current assets include cash, accounts receivable, inventory and other assets of $5.5 million, $2.7 million, $2.2 million and $1.4 million, respectively, related to the EirGen acquisition. The fair value of the accounts receivable equals the gross contractual amount at the date of acquisition.

Pro Forma Results

The following table includes the pro forma results for the three and six months ended June 30, 2015 and combines the results of operations of OPKO and EirGen as though the acquisition of EirGen had occurred on January 1, 2014.



(In thousands)	Three months ended June 30, 2015	Six months ended June 30, 2015
Revenues	$43,848	$76,769
Net loss	(43,420)	(162,331)
Net loss attributable to common shareholders	(42,945)	(160,931)