Annual report pursuant to Section 13 and 15(d)

Note 7 - Goodwill and Other Intangible Assets

v3.7.0.1
Note 7 - Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
7.
Goodwill and Other Intangible Assets
 
Goodwill
 
During the Company's annual impairment testing of goodwill as of
December
31,
2015,
the Company recognized an impairment loss of
$15.7
million within goodwill impairment in the consolidated statement of operations and comprehensive loss. A rollforward of the carrying value of goodwill from continuing operations from
January
1,
2015
to
December
31,
2015
is as follows:
 
   
2015
 
   
January 1,
   
Additions
   
Adjustments
   
Impairments
   
December 31,
 
RedPath
  $
15,545
    $
    $
121
    $
(15,666
)
  $
 
                                         
 
 
 
 
 
 
Other Intangible Assets
 
The net carrying value of the identifiable intangible assets as of
December
 
31,
2016
and
December
31,
2015
is as follows: 
 
           
As of December 31, 2016
   
As of December 31, 2015
 
   
Life
   
Carrying
   
Carrying
 
   
(Years)
   
Amount
   
Amount
 
Diagnostic assets:
 
 
 
 
 
 
 
 
 
 
 
 
Asuragen acquisition:
                       
Thyroid
   
9
    $
8,519
    $
8,519
 
Pancreas
   
-
     
-
     
2,882
 
Biobank
   
-
     
-
     
1,575
 
RedPath acquisition:
                       
Pancreas test
   
7
     
16,141
     
16,141
 
Barrett's test
   
9
     
18,351
     
18,351
 
Total
   
 
    $
43,011
    $
47,468
 
Diagnostic lab:
 
 
 
 
 
 
 
 
 
 
 
 
CLIA Lab
   
2.3
    $
609
    $
609
 
                         
Accumulated Amortization
   
 
    $
(7,262
)   $
(4,585
)
                         
Net Carrying Value
   
 
    $
36,358
    $
43,492
 
 
Amortization expense was approximately
$3.8
million for the years ended
December
 
31,
2016
and
2015,
respectively. Estimated amortization expense for the next
five
years is as follows:
 
2017
   
2018
   
2019
   
2020
   
2021
 
$ 4,272     $
5,292
    $
5,292
    $
5,292
    $
4,908
 
 
In
2016,
the Company recorded an asset impairment charge of approximately
$3.4
million resulting from a decline in the market value of PancraMIR
®
and Biobank assets associated with the acquisition of certain assets from Asuragen.