Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Mar. 02, 2015	Jun. 30, 2014
Document Information [Abstract]
Entity Registrant Name	MERIT MEDICAL SYSTEMS INC
Entity Central Index Key	0000856982
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		43,632,232
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 658,573,016

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash and cash equivalents	$ 7,355	$ 7,459
Trade receivables — net of allowance for uncollectible accounts — 2014 — $893 and 2013 — $840	72,717	60,186
Employee receivables	173	224
Other receivables	7,507	3,279
Inventories	91,773	82,378
Prepaid expenses	5,012	5,121
Prepaid income taxes	1,273	1,232
Deferred income tax assets	6,375	5,638
Income tax refund receivables	155	398
Total current assets	192,340	165,915
PROPERTY AND EQUIPMENT:
Land and land improvements	16,830	16,240
Buildings	130,447	127,747
Manufacturing equipment	145,022	136,768
Furniture and fixtures	35,201	32,327
Leasehold improvements	16,096	13,692
Construction-in-progress	21,858	25,172
Total property and equipment	365,454	351,946
Less accumulated depreciation	(121,283)	(108,676)
Property and equipment — net	244,171	243,270
OTHER ASSETS:
Goodwill	184,464	184,505
Deferred income tax assets	9	800
Other assets	15,873	13,806
Total other assets	310,654	319,098
TOTAL	747,165	728,283
CURRENT LIABILITIES:
Trade payables	29,810	26,511
Accrued expenses	33,826	27,702
Current portion of long-term debt	10,000	10,000
Advances from employees	381	292
Income taxes payable	1,413	1,089
Total current liabilities	75,430	65,594
LONG-TERM DEBT	214,490	238,854
DEFERRED INCOME TAX LIABILITIES	6,385	2,548
LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS	1,353	2,031
DEFERRED COMPENSATION PAYABLE	8,635	7,833
DEFERRED CREDITS	2,891	3,065
OTHER LONG-TERM OBLIGATIONS	2,722	2,652
Total liabilities	311,906	322,577
COMMITMENTS AND CONTINGENCIES (Notes 2, 7, 8, 9 and 13)
STOCKHOLDERS’ EQUITY:
Preferred stock — 5,000 shares authorized as of December 31, 2014 and 2013; no shares issued
Common stock, no par value; shares authorized — 2014 and 2013 - 100,000; issued and outstanding as of December 31, 2014 - 43,614 and December 31, 2013 - 42,846	187,709	177,775
Retained earnings	249,962	226,988
Accumulated other comprehensive income (loss)	(2,412)	943
Total stockholders’ equity	435,259	405,706
TOTAL	747,165	728,283
Developed technology — net of accumulated amortization — 2014 — $27,982 and 2013 — $17,602
OTHER ASSETS:
Intangible Assets	79,172	91,052
Other — net of accumulated amortization — 2014 — $22,480 and 2013 — $18,870
OTHER ASSETS:
Intangible Assets	$ 31,136	$ 28,935

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
CURRENT ASSETS:
Trade receivables, allowances	$ 893	$ 840
STOCKHOLDERS’ EQUITY:
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common Stock, Par or Stated Value Per Share
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	43,614,000	42,846,000
Other
OTHER ASSETS:
Intangibles, accumulated amortization	22,480	18,870
Developed technology
OTHER ASSETS:
Intangibles, accumulated amortization	$ 27,982	$ 17,602

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
NET SALES	$ 509,689	$ 449,049	$ 394,288
COST OF SALES	284,467	254,682	212,296
GROSS PROFIT	225,222	194,367	181,992
OPERATING EXPENSES:
Selling, general, and administrative	147,894	128,642	122,106
Research and development	36,632	33,886	27,795
Intangible asset impairment charges	1,102	8,089	0
Contingent consideration benefit	(572)	(4,094)	0
Acquired in-process research and development	0	0	2,450
Total operating expenses	185,056	166,523	152,351
INCOME FROM OPERATIONS	40,166	27,844	29,641
OTHER INCOME (EXPENSE):
Interest income	217	255	226
Interest expense	(8,829)	(8,044)	(604)
Other income (expense) — net	18	(216)	(1,645)
Other expense — net	(8,594)	(8,005)	(2,023)
INCOME BEFORE INCOME TAXES	31,572	19,839	27,618
INCOME TAX EXPENSE	8,598	3,269	7,908
NET INCOME	$ 22,974	$ 16,570	$ 19,710
EARNINGS PER COMMON SHARE:
Basic (in dollars per share)	$ 0.53	$ 0.39	$ 0.47
Diluted (in dollars per share)	$ 0.53	$ 0.39	$ 0.46
AVERAGE COMMON SHARES:
Basic (in shares)	43,143	42,607	42,176
Diluted (in shares)	43,409	42,884	42,610

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income	$ 22,974	$ 16,570	$ 19,710
Unrealized gain on marketable securities:
Unrealized holding gain arising during the period	0	0	551
Less income tax (expense)	0	0	(215)
Reclassification adjustment for gains included in net income	0	0	(846)
Less income tax benefit	0	0	330
Interest rate swap	(630)	2,992	(1,789)
Less income tax benefit (expense)	245	(1,164)	696
Foreign currency translation adjustment	(3,160)	292	(74)
Less income tax benefit	190	5	15
Total other comprehensive income (loss)	(3,355)	2,125	(1,332)
Total comprehensive income	$ 19,619	$ 18,695	$ 18,378

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) In Thousands, unless otherwise specified	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2011	$ 357,089	$ 166,231	$ 190,708	$ 150
Beginning balance, shares at Dec. 31, 2011		42,008
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,710		19,710
Other comprehensive income	(1,332)			(1,332)
Excess tax benefits from stock-based compensation	877	877
Stock-based compensation expense	1,917	1,917
Options exercised	5,156	5,156
Options exercised, shares		610
Issuance of common stock under Employee Stock Purchase Plans	430	430
Issuance of common stock under Employee Stock Purchase Plans, shares		33
Shares surrendered in exchange for payment of payroll tax liabilities	(439)	(439)
Shares surrendered in exchange for payment of payroll tax liabilities, shares		(31)
Shares surrendered in exchange for the exercise of stock options	(1,831)	(1,831)
Shares surrendered in exchange for the exercise of stock options, shares		(131)
Ending balance at Dec. 31, 2012	381,577	172,341	210,418	(1,182)
Ending balance, shares at Dec. 31, 2012		42,489
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16,570		16,570
Other comprehensive income	2,125			2,125
Excess tax benefits from stock-based compensation	259	259
Stock-based compensation expense	1,467	1,467
Options exercised	3,733	3,733
Options exercised, shares		413
Issuance of common stock under Employee Stock Purchase Plans	448	448
Issuance of common stock under Employee Stock Purchase Plans, shares		37
Shares surrendered in exchange for payment of payroll tax liabilities	(21)	(21)
Shares surrendered in exchange for payment of payroll tax liabilities, shares		(48)
Shares surrendered in exchange for the exercise of stock options	(452)	(452)
Shares surrendered in exchange for the exercise of stock options, shares		(45)
Ending balance at Dec. 31, 2013	405,706	177,775	226,988	943
Ending balance, shares at Dec. 31, 2013		42,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,974		22,974
Other comprehensive income	(3,355)			(3,355)
Excess tax benefits from stock-based compensation	576	576
Stock-based compensation expense	1,460	1,460
Options exercised	9,638	9,638
Options exercised, shares	878	878
Issuance of common stock under Employee Stock Purchase Plans	450	450
Issuance of common stock under Employee Stock Purchase Plans, shares		33
Shares surrendered in exchange for payment of payroll tax liabilities	(249)	(249)
Shares surrendered in exchange for payment of payroll tax liabilities, shares		(16)
Shares surrendered in exchange for the exercise of stock options	(1,941)	(1,941)
Shares surrendered in exchange for the exercise of stock options, shares		(127)
Ending balance at Dec. 31, 2014	$ 435,259	$ 187,709	$ 249,962	$ (2,412)
Ending balance, shares at Dec. 31, 2014		43,614

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 22,974	$ 16,570	$ 19,710
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,929	32,542	22,534
Losses on sales and/or abandonment of property and equipment	916	177	204
Write-off of patents and intangible assets	1,427	8,208	55
Impairment of cost-method investment	0	0	2,368
Acquired in-process research and development	0	0	2,450
Amortization of deferred credits	(175)	(139)	(174)
Amortization of long-term debt issuance costs	987	845	0
Realized gain on sale of marketable securities	0	0	(745)
Deferred income taxes	3,870	1,359	549
Excess tax benefits from stock-based compensation	(576)	(259)	(877)
Stock-based compensation expense	1,460	1,467	1,917
Changes in operating assets and liabilities, net of effects from acquisitions:
Trade receivables	(13,599)	(6,445)	(6,576)
Employee receivables	46	(53)	(11)
Other receivables	(3,042)	(609)	(760)
Inventories	(9,396)	2,334	(8,965)
Prepaid expenses	(58)	(758)	736
Prepaid income taxes	(41)	18	(367)
Income tax refund receivables	11	1,267	452
Other assets	(1,388)	(1,806)	(1,178)
Trade payables	5,326	(5)	7,721
Accrued expenses	6,137	(276)	4,448
Advances from employees	142	(277)	317
Income taxes payable	1,083	255	2,057
Liabilities related to unrecognized tax benefits	(76)	(520)	(209)
Deferred compensation payable	802	1,877	1,371
Other long-term obligations	566	(4,399)	(89)
Total adjustments	30,351	34,803	27,228
Net cash provided by operating activities	53,325	51,373	46,938
Capital expenditures for:
Property and equipment	(34,181)	(59,505)	(64,643)
Intangible assets	(1,714)	(1,617)	(1,460)
Proceeds from sale-leaseback transactions	5,521	24,000	0
Proceeds from the sale of marketable securities	0	0	3,248
Proceeds from the sale of property and equipment	98	113	43
Cash paid in acquisitions, net of cash acquired	(5,927)	(31,600)	(192,762)
Net cash used in investing activities	(36,203)	(68,609)	(255,574)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	8,146	3,729	3,755
Proceeds from issuance of long-term debt	144,018	176,764	330,630
Payments on long-term debt	(169,392)	(165,477)	(123,801)
Proceeds from industrial assistant grants	0	389	1,029
Excess tax benefits from stock-based compensation	576	259	877
Long-term debt issuance costs	0	(798)	(3,706)
Contingent payments related to acquisitions	(67)	(77)	(57)
Payment of taxes related to an exchange of common stock	(249)	(21)	(439)
Net cash provided by (used in) financing activities	(16,968)	14,768	208,288
EFFECT OF EXCHANGE RATES ON CASH	(258)	208	(61)
NET (DECREASE) IN CASH AND CASH EQUIVALENTS	(104)	(2,260)	(409)
CASH AND CASH EQUIVALENTS:
Beginning of year	7,459	9,719	10,128
End of year	7,355	7,459	9,719
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest (net of capitalized interest of $389, $1,038 and $456, respectively)	9,014	7,877	434
Income taxes	3,289	735	5,277
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Property and equipment purchases in accounts payable	2,896	4,055	12,372
Receivable due for sale of equipment	1,256	0	0
Acquisition of customer list in exchange for a settlement of trade receivables	0	0	377
Acquisition purchases in accrued expenses and other long-term obligations	1,000	350	5,149
Merit common stock surrendered (127, 45 and 131 shares, respectively) in exchange for exercise of stock options	$ 1,941	$ 452	$ 1,831

Organization and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Summary of Significant Accounting Policies

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization. Merit Medical Systems, Inc. (“Merit,” “we,” or “us”) designs, develops, manufactures and markets single-use medical products for interventional and diagnostic procedures. For financial reporting purposes, we report our operations in two operating segments: cardiovascular and endoscopy. Our cardiovascular segment consists of cardiology and radiology devices which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases and includes the embolotherapeutic products and the cardiac rhythm management and electrophysiology ("CRM/EP") devices we acquired through our acquisition of Thomas Medical as described in Note 2 below. Our endoscopy segment consists of gastroenterology and pulmonology medical devices which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors.

We manufacture our products in plants located in the United States, The Netherlands, Ireland and France. We export sales to dealers and have direct sales forces in the United States, Western Europe and China (see Note 12). Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The following is a summary of the more significant of such policies.

Use of Estimates in Preparing Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Principles of Consolidation. The consolidated financial statements include our wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated.

Cash and Cash Equivalents. For purposes of the statements of cash flows, we consider interest bearing deposits with an original maturity date of three months or less to be cash equivalents.

Receivables. The allowance for uncollectible accounts receivable is based on our historical bad debt experience and on management’s evaluation of our ability to collect individual outstanding balances.

Inventories. We value our inventories at the lower of cost, determined on a first-in, first-out method, or market value. Market value for raw materials is based on replacement costs. Inventory costs include material, labor and manufacturing overhead. We review inventories on hand at least quarterly and record provisions for estimated excess, slow moving and obsolete inventory, as well as inventory with a carrying value in excess of net realizable value. The regular and systematic inventory valuation reviews include a current assessment of future product demand, historical experience and product expiration.

Goodwill and Intangible Assets. We test goodwill balances as of July 1 for impairment on an annual basis during the third quarter, or whenever impairment indicators arise. We utilize several reporting units in evaluating goodwill for impairment. We assess the estimated fair value of reporting units using a combination of a market-based approach with a guideline public company method and a discounted cash flow method. If the carrying amount of a reporting unit exceeds the fair value of the reporting unit, an impairment charge is recognized in an amount equal to the excess of the carrying amount of the reporting unit goodwill over the implied fair value of that goodwill.

We evaluate the recoverability of intangible assets periodically and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. All of our intangible assets are subject to amortization. Intangible assets are amortized on a straight-line basis, except for customer lists, which are generally amortized on an accelerated basis, over the following useful lives:



Customer lists	2	-	15 years
Developed technology	5	-	15 years
Distribution agreements	3	-	12 years
License agreements and trademarks	3	-	15 years
Covenant not to compete	3	-	10 years
Patents	17 years
Royalty agreements	5 years

Long-Lived Assets. We periodically review the carrying amount of our long-lived assets for impairment. An asset is considered impaired when estimated future cash flows are less than the carrying amount of the asset. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flow. There were no impairments of long-lived assets during the years ended December 31, 2014, 2013 and 2012, except as noted in Note 4.

Property and Equipment. Property and equipment is stated at the historical cost of construction or purchase. Construction costs include interest costs capitalized during construction. Maintenance and repairs of property and equipment are charged to operations as incurred. Leasehold improvements are amortized over the lesser of the base term of the lease or estimated life of the leasehold improvements. Construction-in-process consists of new buildings and various production equipment being constructed internally and externally. Assets in construction-in-process will commence depreciating once the asset has been placed in service. Depreciation is computed using the straight-line method over estimated useful lives as follows:



Buildings	40 years
Manufacturing equipment	4	-	20 years
Furniture and fixtures	3	-	20 years
Land improvements	10	-	20 years
Leasehold improvements	4	-	25 years

Depreciation expense related to property and equipment for the years ended December 31, 2014, 2013 and 2012 was approximately $21.0 million, $18.4 million, and $15.0 million, respectively.

Deferred Compensation. We have a deferred compensation plan that permits certain management employees to defer a portion of their salary until the future. We established a Rabbi trust to finance obligations under the plan with corporate-owned variable life insurance contracts. The cash surrender value totaled approximately $9.0 million and $7.8 million at December 31, 2014 and 2013, respectively, which is included in other assets in our consolidated balance sheets. We have recorded a deferred compensation payable of approximately $8.6 million and $7.8 million at December 31, 2014 and 2013, respectively, to reflect the liability to our employees under this plan.

Other Assets. Other assets consist of our deferred compensation plan cash surrender value discussed above, unamortized debt issuance costs, two investments in privately-held companies accounted for at cost, a long-term income tax refund receivable, and deposits related to various leases.

Deferred Credits. Deferred credits consist of grant money received from the Irish government. Grant money is received for a percentage of expenditures on eligible property and equipment, specific research and development projects and costs of hiring and training employees. Amounts related to the acquisition of property and equipment are amortized as a reduction of depreciation expense over the lives of the corresponding property and equipment.

Revenue Recognition. We sell our single-use disposable medical products through a direct sales force in the U.S., through OEM relationships, custom procedure tray manufacturers and a combination of direct sales force and independent distributors in international markets. Revenues from these customers are recognized when all of the following have occurred: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the price is fixed or determinable and (iv) the ability to collect is reasonably assured. These criteria are generally satisfied at the time of shipment when risk of loss and title passes to the customer. We have certain written agreements with group purchasing organizations to sell our products to participating hospitals. These agreements have destination shipping terms which require us to defer the recognition of a sale until the product has arrived at the participating hospitals. We reserve for sales returns, including returns related to defective products (i.e. warranty liability), as a reduction in net sales, based on our historical experience. We also offer sales rebates and discounts to purchasing groups. These reserves are recorded as a reduction in net sales and are not considered material to our consolidated statements of income for the years ended December 31, 2014, 2013 and 2012. In addition, we invoice our customers for taxes assessed by governmental authorities such as sales tax and value added taxes. We present these taxes on a net basis.

Shipping and Handling. We bill our customers for shipping and handling charges, which are included in net sales for the applicable period, and the corresponding shipping and handling expense is reported in cost of sales.

Cost of Sales. We include product costs (i.e. material, direct labor and overhead costs), shipping and handling expense, medical device excise tax, product royalty expense, developed technology amortization expense, production-related depreciation expense and product license agreement expense in cost of sales.

Research and Development. Research and development costs are expensed as incurred.

Income Taxes. We utilize an asset and liability approach for financial accounting and reporting for income taxes. Deferred income taxes are provided for temporary differences in the basis of assets and liabilities as reported for financial statement and income tax purposes. Deferred income taxes reflect the tax effects of net operating loss and tax credit carryovers and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of certain deferred tax assets is dependent upon future earnings, if any. We make estimates and judgments in determining the need for a provision for income taxes, including the estimation of our taxable income for each full fiscal year.

Earnings per Common Share. Net income per common share is computed by both the basic method, which uses the weighted average number of our common shares outstanding, and the diluted method, which includes the dilutive common shares from stock options and warrants, as calculated using the treasury stock method.

Fair Value Measurements. The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

Stock-Based Compensation. We recognize the fair value compensation cost relating to share-based payment transactions in accordance with Accounting Standards Codification (“ASC”) 718, Compensation — Stock Compensation. Under the provisions of ASC 718, share-based compensation cost is measured at the grant date, based on the fair value of the award and is recognized over the employee’s requisite service period, which is generally the vesting period. The fair value of our stock options is estimated using a Black-Scholes option valuation model. Stock-based compensation expense for the years ended December 31, 2014, 2013 and 2012 was approximately $1.5 million, $1.5 million and $1.9 million, respectively.

Concentration of Credit Risk. Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We provide credit, in the normal course of business, primarily to hospitals and independent third-party custom procedure tray manufacturers and distributors. We perform ongoing credit evaluations of our customers and maintain allowances for potential credit losses. Sales to our single largest customer approximated 3%, 3% and 4% of total sales for the years ended December 31, 2014, 2013 and 2012, respectively.

Foreign Currency. The financial statements of our foreign subsidiaries are measured using local currencies as the functional currency, with the exception of Ireland which uses the U.S. Dollar as its functional currency. Assets and liabilities are translated into U.S. Dollars at year-end rates of exchange and results of operations are translated at average rates for the year. Gains and losses resulting from these translations are included in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity. Foreign currency transactions denominated in a currency other than the entity’s functional currency are included in determining net income for the period. Such foreign currency transaction gains and losses have not been significant for purposes of our financial reporting.

Derivatives. We use forward contracts to mitigate our exposure to volatility in foreign exchange rates, and we use an interest rate swap to hedge changes in the benchmark interest rate related to our Credit Agreement described in Note 7. All derivatives are recognized in the consolidated balance sheets at fair value. Classification of each hedging instrument is based upon whether the maturity of the instrument is less than or greater than 12 months. We do not purchase or hold derivative financial instruments for speculative or trading purposes (see Note 8).

Accumulated Other Comprehensive Income (Loss). As of December 31, 2014, accumulated other comprehensive income (loss) included approximately $350,000 (net of tax of $(223,000)) related to an interest rate swap and $(2.8) million (net of tax of $202,000) related to foreign currency translation. As of December 31, 2013, accumulated other comprehensive income (loss) included approximately $735,000 (net of tax of $(468,000)) related to an interest rate swap and $208,000 (net of tax of $12,000) related to foreign currency translation.

Recently Issued Financial Accounting Standards. In August 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2014-15, which requires management to assess, at each annual and interim reporting period, the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and provide related disclosures. The guidance is effective for the year ended December 31, 2016, with early adoption permitted. We have assessed the impact of this standard and do not believe that it will have a material impact on our consolidated financial statements or disclosures upon adoption.

In May 2014, the FASB issued authoritative guidance amending the FASB Accounting Standards Codification and creating a new Topic 606, Revenue from Contracts with Customers. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP applicable to revenue transactions. This guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The existing industry guidance will be eliminated when the new guidance becomes effective and annual disclosures will be substantially revised. The amendments in the new guidance are effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. Early application is not permitted. We intend to adopt the new standard effective January 1, 2017. This update provides for two transition methods to the new guidance: a full retrospective or a modified retrospective adoption. We are evaluating the transition methods and the anticipated impact the application of this guidance will have on our financial position, results of operations and cash flows.

In July 2013, the FASB issued authoritative guidance which concludes that, under certain circumstances, unrecognized tax benefits should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry-forward, a similar tax loss, or a tax credit carry-forward. We adopted this guidance early, as permitted, for the fiscal year ended December 31, 2013. The adoption of this guidance did not have a material effect on our consolidated financial statements.

- Definition

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References+ Details

Acquisitions

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

On November 25, 2014, we entered into a marketing, distribution, and license agreement with a medical device company for the right to market and distribute certain introducer shaft products. As of December 31, 2014, we had paid $624,800 in connection with this agreement. We are obligated to pay an additional €1.5 million if certain milestones set forth in the agreement are reached. We accounted for the transaction as an asset purchase. We recorded the amount paid on the closing date as a license agreement asset, which we intend to amortize over a period of 10 years.

On August 8, 2014, we entered into a license agreement and a distribution agreement with a medical device company for the right to manufacture and sell certain percutaneous transluminal angioplasty balloon catheter products. As of December 31, 2014, we had paid $3.0 million and recorded an additional $1.0 million obligation to accrued liabilities in connection with these two agreements. We are obligated to pay an additional $3.0 million if certain milestones set forth in the license agreement are reached. We accounted for the transaction as an asset purchase. Of the purchase price paid as of December 31, 2014, $200,000 was allocated to a distribution agreement asset, which we are amortizing over a period of 3 years, and $3.8 million was allocated to a license agreement asset, which we intend to amortize over a period of 12 years.

On July 15, 2014, we entered into a purchase agreement to acquire certain assets from a limited liability company. In connection with this agreement, we paid approximately $752,000. The primary assets acquired from this entity were manufacturing and export licenses. We accounted for the transaction as an asset purchase. We recorded the amount paid on the closing date as a license agreement asset, which we intend to amortize over a period of 10 years.

On May 8, 2014, we purchased 737,628 shares of the common stock of G Medix, Inc., a Minnesota corporation ("G Medix"), for an aggregate price of approximately $1.8 million. Our purchase of the G Medix shares, which represents an ownership interest in G Medix of approximately 19%, has been accounted for at cost. We made a refundable advance to G Medix of $350,000 in 2013 that was credited against the final purchase amount, resulting in $1.45 million of cash purchase price paid to G Medix during 2014. G Medix develops catheter-based therapeutic devices.

On December 20, 2013, we acquired a license to sell our Hepasphere products in China. We paid $700,000 to purchase the license, $350,000 of which was included in accrued liabilities at December 31, 2013. The purchase price was allocated to a license agreement for $700,000, which we are amortizing over four years.

On October 4, 2013, we acquired certain assets contemplated by an Asset Purchase Agreement we executed with Datascope Corp. ("Datascope"), a Delaware corporation. The primary assets we acquired consist of the Safeguard® Pressure Assisted Device, which assists in obtaining and maintaining hemostasis after a femoral procedure, and the Air-Band™ Radial Compression Device, which is indicated to assist hemostasis of the radial artery puncture site while maintaining visibility. We accounted for this acquisition as a business combination. We made a payment of approximately $27.5 million to acquire these assets. Acquisition-related costs during the year ended December 31, 2013, which were included in selling, general, and administrative expenses in the accompanying consolidated statements of income, were not material. The results of operations related to this acquisition have been included in our cardiovascular segment since the acquisition date. During the year ended December 31, 2013, our net sales of Datascope products were approximately $1.6 million. It is not practical to separately report the earnings related to the Datascope acquisition, as we cannot split out sales costs related to Datascope products, principally because our sales representatives are selling multiple products (including Datascope products) in the cardiovascular business segment. The total purchase price was allocated as follows (in thousands):



Assets Acquired
Inventories	$	478
Intangibles
Developed technology	18,200
Customer lists	390
Trademarks	320
Goodwill	8,112

Total assets acquired	$	27,500

With respect to the Datascope assets, we are amortizing developed technology over 10 years and customer lists on an accelerated basis over six years. While U.S. trademarks can be renewed indefinitely, we currently estimate that we will generate cash flow from the acquired trademarks for a period of 15 years from the acquisition date. The total weighted-average amortization period for these acquired intangible assets is 10 years.

On October 4, 2013, we acquired certain assets contemplated by an Asset Purchase Agreement with Radial Assist, LLC ("Radial Assist"), a Georgia limited liability company. The primary assets we acquired consist of the Rad Board, Rad BoardXtra, Rad Trac, and Rad Rest devices. The Rad Board is designed to provide a larger work space for physicians and an area for patients to rest their arms during radial procedures. The Rad Board Xtra is designed to work in conjunction with the Rad Board by extending the usable work space and allowing for a 90-degree perpendicular extension of the arm for physicians who prefer doing procedures at a 90-degree angle. The Rad Trac is also designed to be used with the Rad Board and facilitates placement and removal of the Rad Board with the patient still on the table. The Rad Rest is a disposable, single-use product designed to stabilize the arm by ergonomically supporting the elbow, forearm and wrist during radial procedures. We accounted for this acquisition as a business combination. We made a payment of approximately $2.5 million to acquire these assets. Acquisition-related costs during the year ended December 31, 2013, which were included in selling, general, and administrative expenses in the accompanying consolidated statements of income, were not material. The results of operations related to this acquisition have been included in our cardiovascular segment since the acquisition date. During the year ended December 31, 2013, our net sales of Radial Assist products were approximately $191,000. It is not practical to separately report the earnings related to the Radial Assist acquisition, as we cannot split out sales costs related to Radial Assist products, principally because our sales representatives are selling multiple products (including Radial Assist products) in the cardiovascular business segment. The total purchase price was allocated as follows (in thousands):



Assets Acquired
Inventories	$	16
Intangibles
Developed technology	1,520
Customer lists	20
Trademarks	40
Goodwill	904

Total assets acquired	$	2,500

With respect to the Radial Assist assets, we are amortizing developed technology over 10 years and customer lists on an accelerated basis over six years. While U.S. trademarks can be renewed indefinitely, we currently estimate that we will generate cash flow from the acquired trademarks for a period of 15 years from the acquisition date. The total weighted-average amortization period for these acquired intangible assets is 10.07 years.

In connection with our Datascope and Radial Assist acquisitions, we paid approximately $798,000 in long-term debt issuance costs to Wells Fargo Bank related to the amendment of our Credit Agreement (see Note 7). These costs consist primarily of loan origination fees that we are amortizing over the remaining contract term of our Credit Agreement, which matures December 19, 2017.

On September 10, 2013, we entered into a license agreement with a medical device company for the exclusive rights to sell certain biocompatible gloves, instrument cleaners, and surgical wipes. We paid $250,000 for the use of the license. We are obligated to pay an additional $250,000 within 30 days of our first commercial sale of the product. The purchase price was allocated to a license agreement for $250,000, which we intend to amortize over 10 years.

On December 19, 2012, we consummated the transactions contemplated by a Stock Purchase Agreement with Vital Signs, Inc., an affiliate of GE Healthcare (“Vital Signs”), as seller, and purchased all of the issued and outstanding shares of Thomas Medical Products, Inc. (“Thomas Medical”), a Pennsylvania corporation. The primary assets of Thomas Medical are the various patents, trademarks, and business related to introducers, hemostatic valves, and sheaths. Using the splittable hemostatic introducer sheath as an entry product, we intend to develop a portfolio of premium accessories for electrophysiology physicians. We accounted for this acquisition as a business combination. We made an initial payment of $167.0 million to Vital Signs in December 2012. We also accrued an additional $445,000 at December 31, 2012, related to a final payment made to Vital Signs in February 2013 for net working capital received in excess of the target net working capital specified. The results of operations related to this acquisition have been included in our cardiovascular segment since the acquisition date. Our consolidated financial statements for the year ended December 31, 2012 include approximately $1.9 million and $51,000 of net sales and income before tax, respectively, related to the Thomas Medical acquisition. The total purchase price was allocated as follows (in thousands):



Assets Acquired
Trade receivables	$	6,507
Inventories	5,459
Prepaid expenses	340
Property and equipment	2,685
Intangibles
Developed technology	43,000
Non-compete agreements	500
Customer lists	5,000
Trademarks	1,400
Goodwill	102,407
Total assets acquired	167,298

Liabilities Assumed
Trade payables	588
Accrued expenses	1,094
Total liabilities assumed	1,682

Net assets acquired, net of cash acquired of $1,829	$	165,616

During the year ended December 31, 2013, the goodwill related to the Thomas Medical acquisition was increased by approximately $381,000 due to an adjustment related to inventories.

The gross amount of trade receivables we acquired in the Thomas Medical transaction was approximately $6.5 million, of which $34,000 was expected to be uncollectible. With respect to the Thomas Medical assets, we are amortizing developed technology over eight years, customer lists on an accelerated basis over 12 years, and non-compete agreements over three years. While U.S. trademarks can be renewed indefinitely, we currently estimate that we will generate cash flow from the acquired trademarks for a period of 15 years from the acquisition date. The total weighted-average amortization period for these acquired intangible assets is 8.55 years.

In connection with our Thomas Medical acquisition, we paid approximately $3.7 million in long-term debt issuance costs to Wells Fargo Bank related to our Credit Agreement (see Note 7). These costs consist primarily of loan origination fees that we are amortizing over five years, which is the contract term of our Credit Agreement. We also incurred approximately $2.7 million of acquisition-related costs during the year ended December 31, 2012, which are included in selling, general and administrative expense in the accompanying consolidated statements of operations.

On November 19, 2012, we entered into an Asset Purchase Agreement with Janin Group, Inc. (dba MediGroup) ("MediGroup"), an Illinois corporation, to purchase substantially all of the assets of MediGroup. The primary assets of MediGroup are the patented Flex-Neck® Peritoneal Dialysis Catheters and Y-TEC™ Peritoneal Dialysis Implantation Kits. We accounted for this acquisition as a business combination. We made an initial payment of approximately $4.0 million in November 2012. In addition, we are obligated to make contingent payments of up to $150,000 per year during 2013, 2014 and 2015. Furthermore, we are obligated to make contingent purchase price payments of $150,000 per year in 2016 through 2022 if net sales of Medigroup products increase at least 8% in each subsequent year. If net sales of MediGroup products have not increased by the percentage set forth in any year, our obligation to make these contingent payments shall cease. The acquisition-date fair value of the contingent consideration liability of approximately $403,000 was included as part of the purchase consideration. Acquisition-related costs during the year ended December 31, 2012, which are included in selling, general, and administrative expense in the accompanying consolidated statements of income, were not material. The results of operations related to this acquisition have been included in our cardiovascular segment since the acquisition date. During the year ended December 31, 2012, our net sales of MediGroup products were approximately $169,000. It is not practical to separately report the earnings related to the MediGroup acquisition, as we cannot split out sales costs related to MediGroup products, principally because our sales representatives are selling multiple products (including MediGroup products) in the cardiovascular business segment. The total purchase price, which includes the contingent consideration liability described above, was allocated as follows (in thousands):



Assets Acquired
Inventories	$	263
Property and equipment	79
Intangibles
Developed technology	2,000
Non-compete agreements	210
Customer lists	110
Trademarks	80
Goodwill	1,697

Total assets acquired	$	4,439

With respect to the MediGroup assets, we are amortizing developed technology over eight years, customer lists on an accelerated basis over eight years, and non-compete agreements over seven years. While U.S. trademarks can be renewed indefinitely, we currently estimate that we will generate cash flow from the acquired trademarks for a period of 15 years from the acquisition date. The total weighted-average amortization period for these acquired intangible assets is 8.15 years.

On August 27, 2012, we entered into a license agreement with a medical device company for the use of certain patents. We paid $750,000 for the use of the license. The purchase price was allocated to a license agreement for $750,000, which we are amortizing over three years.

On August 21, 2012, we entered into a distribution and patent sublicense agreement with Catheter Connections, Inc. ("CathConn"), a Utah corporation, for the exclusive rights to sell certain disinfecting cap technologies. We paid CathConn $250,000 in August 2012 for the exclusive rights to distribute CathConn's MaleCap Solo technology in the field of interventional radiology and interventional cardiology. We can elect to pay an additional $250,000 for each of the exclusive rights to other aspects of CathConn's DualCap disinfecting cap technology. The purchase price was allocated to a distribution agreement for $250,000, which we intend to amortize over 10 years.

On August 7, 2012, we purchased 422,594 special membership units, which represents an ownership interest of approximately 11.9%, of Blockade Medical LLC ("Blockade"), a Delaware limited liability company, for an aggregate price of approximately $1.0 million, which is accounted for at cost. Blockade develops, markets and sells catheter-based therapeutic devices.

On January 31, 2012, we consummated the transactions contemplated by an Asset Purchase Agreement with Ostial Solutions, LLC ("Ostial"), a Michigan limited liability company, to purchase substantially all of the assets of Ostial. The primary asset of Ostial is the patented Ostial PRO Stent Positioning System, which is designed to facilitate precise stent implantation in coronary and renal aorto-ostial lesions. We accounted for this acquisition as a business combination. We made an initial payment of $10.0 million to Ostial in January 2012 and an additional payment of $6.5 million to Ostial in August 2012. In addition, we are obligated to make contingent purchase price payments of up to $13.5 million based on a percentage of future sales of products utilizing the Ostial PRO Stent Positioning System. The acquisition-date fair value of this contingent consideration liability of $4.3 million was included as part of the purchase consideration and was determined using a discounted cash flow model based upon the expected timing and amount of these future contingent payments. Acquisition-related costs during the year ended December 31, 2012, which are included in selling, general, and administrative expense in the accompanying consolidated statements of income, were not material. The results of operations related to this acquisition have been included in our cardiovascular segment since the acquisition date. During the year ended December 31, 2012, our net sales of products utilizing the Ostial PRO Stent Positioning System were approximately $457,000. It is not practical to separately report the earnings related to the Ostial acquisition, as we cannot split out sales costs related to Ostial products, principally because our sales representatives are selling multiple products (including Ostial products) in the cardiovascular business segment. The total purchase price, which includes the contingent consideration liability described above, was allocated as follows (in thousands):



Assets Acquired
Intangibles
Developed technology	$	10,500
Customer lists	600
Trademark	110
Non-compete agreements	10
Goodwill	9,580

Total assets acquired	$	20,800

With respect to the Ostial assets, we intend to amortize developed technology over 15 years, customer lists on an accelerated basis over eight years, and non-compete agreements over five years. While U.S. trademarks can be renewed indefinitely, we currently estimate that we will generate cash flow from the acquired trademarks for a period of 15 years from the acquisition date. The total weighted-average amortization period for these acquired intangible assets is 14.6 years.

The following table summarizes our unaudited consolidated results of operations for the years ended December 31, 2013 and 2012, as well as unaudited pro forma consolidated results of operations as though the Thomas Medical, MediGroup, and Ostial acquisitions had occurred on January 1, 2011 and the Datascope acquisition had occurred on January 1, 2012 (in thousands, except per common share amounts):



	2013				2012
	As Reported		Pro Forma		As Reported		Pro Forma
Net sales	$	449,049	$	454,333	$	394,288	$	438,981
Net income	16,570		17,112		19,710		25,075
Earnings per common share:
Basic	$	0.39	$	0.40	$	0.47	$	0.59
Diluted	$	0.39	$	0.40	$	0.46	$	0.59

The unaudited pro forma information set forth above is for informational purposes only and includes adjustments related to the step-up of acquired inventories, amortization expense related to acquired intangible assets, and interest expense on long-term debt. The pro forma information should not be considered indicative of actual results that would have been achieved if the Thomas Medical, MediGroup, and Ostial acquisitions had occurred on January 1, 2011 and the Datascope acquisition had occurred on January 1, 2012, or results that may be obtained in any future period. The pro forma consolidated results of operations do not include the Radial Assist acquisition, as we do not deem the pro forma effect of the transaction to be material.

On January 5, 2012, we entered into a Marketing and Distribution Agreement with Scion Cardio-Vascular, Inc. (“Scion”), a Florida corporation, wherein we purchased the exclusive, worldwide right to distribute the Clo-Sur^PLUS P.A.D.™ for $2.5 million. We made an initial payment of $1.5 million to Scion in January 2012. We made an additional payment of $1.0 million in May 2012 upon reaching a milestone set forth in the purchase agreement. The purchase price was allocated to a distribution agreement for $2.5 million, which we are amortizing over 12 years. As a result of entering into this agreement, we terminated several exclusive Scion sales distributor agreements where we had previously established direct sales relationships. In connection with the termination of these agreements, we agreed to purchase customer lists from the terminated distributors. The total purchase price of the customer lists was approximately $95,000 and was allocated to other intangible assets as of December 31, 2012. We are amortizing the customer lists on an accelerated basis over five years.

During the year ended December 31, 2012, we purchased several patents for the development of future products. A total charge of approximately $2.5 million related to these asset acquisitions has been recorded to acquired in-process research and development in the accompanying consolidated statements of income for the year ended December 31, 2012, as both technological feasibility of the underlying research and development projects had not yet been reached and such technology had no future alternative use as of the respective date of each asset acquisition.

The goodwill arising from the acquisitions discussed above consists largely of the synergies and economies of scale we hope to achieve from combining the acquired assets and operations with our historical operations (see Note 4). The goodwill recognized from these acquisitions is expected to be deductible for income tax purposes.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Inventories

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories at December 31, 2014 and 2013, consisted of the following (in thousands):



	2014		2013
Finished goods	$	50,000	$	43,364
Work-in-process	7,680		6,222
Raw materials	34,093		32,792

Total	$	91,773	$	82,378

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the years ended December 31, 2014 and 2013, are as follows (in thousands):



	2014			2013
Goodwill balance at January 1	$	184,505		$	175,108
Effect of foreign exchange	(41		)	$	—
Adjustment related to previous acquisitions	—			381
Additions as the result of acquisitions	—			9,016
Goodwill balance at December 31	$	184,464		$	184,505

As of December 31, 2014, we had recorded $8.3 million of accumulated goodwill impairment charges. All of the goodwill balance as of December 31, 2014 and 2013 related to our cardiovascular segment.

Other intangible assets at December 31, 2014 and 2013, consisted of the following (in thousands):



	2014
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	10,199	$	(2,196	)	$	8,003
Distribution agreements	5,376		(2,285		)	3,091
License agreements	8,995		(1,823		)	7,172
Trademarks	7,298		(2,079		)	5,219
Covenants not to compete	1,029		(636		)	393
Customer lists	20,452		(13,194		)	7,258
Royalty agreements	267		(267		)	—

Total	$	53,616	$	(22,480	)	$	31,136



	2013
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	9,302	$	(2,374	)	$	6,928
Distribution agreements	5,176		(1,780		)	3,396
License agreements	3,783		(1,249		)	2,534
Trademarks	7,622		(1,844		)	5,778
Covenants not to compete	1,029		(399		)	630
Customer lists	20,626		(10,957		)	9,669
Royalty agreements	267		(267		)	—

Total	$	47,805	$	(18,870	)	$	28,935

Aggregate amortization expense for the years ended December 31, 2014, 2013 and 2012 was approximately $14.9 million, $14.2 million and $7.5 million, respectively.

We evaluate long-lived assets, including amortizing intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. We perform the impairment analysis at the asset group for which the lowest level of identifiable cash flows are largely independent of the cash flows of other assets and liabilities. We compared the carrying value of the amortizing intangible assets acquired in our January 2012 acquisition of Ostial to the undiscounted cash flows expected to result from the asset group and determined that the carrying amount was not recoverable. We then determined the fair value of the amortizing assets related to the Ostial acquisition based on estimated future cash flows discounted back to their present value using a discount rate that reflects the risk profiles of the underlying activities. Some of the factors that influenced our estimated cash flows were slower than anticipated sales growth in the products acquired from our Ostial acquisition and uncertainty about future sales growth. The excess of the carrying value compared to the fair value was recognized as an intangible asset impairment charge. During the third quarter of 2014 and 2013, we recorded impairment charges for Ostial of approximately $1.1 million and $8.1 million, respectively, which were offset by approximately $874,000 and $3.8 million, respectively, of fair value reductions to the related contingent consideration liability.

Estimated amortization expense for the developed technology and other intangible assets for the next five years consists of the following as of December 31, 2014 (in thousands):



Year Ending December 31
2015	$	14,525
2016	14,381
2017	13,911
2018	13,197
2019	12,916

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

For the years ended December 31, 2014, 2013 and 2012, income before income taxes is broken out between U.S. and foreign-sourced operations and consisted of the following (in thousands):



	2014		2013		2012
Domestic	$	16,961	$	5,435	$	15,958
Foreign	14,611		14,404		11,660

Total	$	31,572	$	19,839	$	27,618

The components of the provision for income taxes for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014			2013			2012

Current expense (benefit):
Federal	$	1,316		$	(747	)	$	5,350
State	768			333			1,014
Foreign	2,644			2,324			995

Total current expense	4,728			1,910			7,359

Deferred expense (benefit):
Federal	4,078			1,089			871
State	(119		)	278			(343		)
Foreign	(89		)	(8		)	21

Total deferred expense	3,870			1,359			549

Total income tax expense	$	8,598		$	3,269		$	7,908

The difference between the income tax expense reported and amounts computed by applying the statutory federal rate of 35.0% to pretax income for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014			2013			2012

Computed federal income tax expense at statutory rate of 35%	$	11,050		$	6,943		$	9,667
State income taxes	438			397			436
Tax credits	(888		)	(1,385		)	(779		)
Production activity deduction	—			—			(388		)
Foreign tax rate differential	(1,958		)	(2,374		)	(1,419		)
Uncertain tax positions	(76		)	(520		)	(42		)
Deferred compensation insurance assets	(81		)	(358		)	(155		)
Other — including the effect of graduated rates	113			566			588

Total income tax expense	$	8,598		$	3,269		$	7,908

Deferred income tax assets and liabilities at December 31, 2014 and 2013, consisted of the following temporary differences and carry-forward items (in thousands):



	2014			2013

Deferred income tax assets:
Allowance for uncollectible accounts receivable	$	366		$	342
Accrued compensation expense	5,492			5,001
Inventory differences	2,401			2,317
Net operating loss carryforwards	13,542			18,060
Deferred revenue	87			280
Stock-based compensation expense	2,479			2,704
Uncertain tax positions	284			559
Federal research and development credit carryforward	1,413			569
Foreign Tax Credits	1,374			—
Other	4,173			3,197
Total deferred income tax assets	31,611			33,029

Deferred income tax liabilities:
Prepaid expenses	(708		)	(751		)
Property and equipment	(23,298		)	(21,893		)
Intangible assets	(4,853		)	(3,837		)
Other	(1,150		)	(1,295		)
Total deferred income tax liabilities	(30,009		)	(27,776		)
Valuation allowance	(1,603		)	(1,363		)
Net deferred income tax assets (liabilities)	$	(1	)	$	3,890

Reported as:
Deferred income tax assets - Current	$	6,375		$	5,638
Deferred income tax assets - Long-term	9			800
Deferred income tax liabilities - Current	—			—
Deferred income tax liabilities - Long-term	(6,385		)	(2,548		)

Net deferred income tax assets (liabilities)	$	(1	)	$	3,890

The long-term deferred income tax balances are not netted as they represent deferred amounts applicable to different taxing jurisdictions. Deferred income tax balances reflect the temporary differences between the carrying amounts of assets and liabilities and their tax bases and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. The valuation allowance is primarily related to state credit carryforwards and capital losses for which we believe it is more likely than not that the deferred tax assets will not be realized. The valuation allowance increased by approximately $240,000, $138,000, and $864,000 during the years ended December 31, 2014, 2013 and 2012, respectively.

We have not provided U.S. deferred income taxes or foreign withholding taxes on the undistributed earnings of certain foreign subsidiaries that are intended to be reinvested indefinitely in operations outside the United States. It is not practical to estimate the amount of additional taxes that might be payable on such undistributed earnings.

As of December 31, 2014 and 2013, we had U.S federal net operating loss carryforwards of approximately $38.7 million and $52.2 million, respectively. These net operating loss carryforwards, which expire at various dates through 2030, are subject to an annual limitation under Internal Revenue Code Section 382. We anticipate that we will utilize the net operating loss carryforwards over the next 12 years. We utilized a total of approximately $13.5 million and $3.8 million in U.S. federal net operating loss carryforwards during the year ended December 31, 2014 and 2013, respectively.

As of December 31, 2014 and 2013, we had non-U.S. net operating loss carryforwards of approximately $53,000 and $125,000, respectively, which have no expiration date. Non-U.S. net operating loss carryforwards utilized during 2014 and 2013 were not material.

We are subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining our worldwide provision for income taxes and recording the related assets and liabilities. In the ordinary course of our business, there are many transactions and calculations where the ultimate tax determination is uncertain. In our opinion, we have made adequate provisions for income taxes for all years subject to audit. We are no longer subject to U.S. federal, state, and local income tax examinations by tax authorities for years before 2011. In foreign jurisdictions, we are no longer subject to income tax examinations for years before 2008.

Although we believe our estimates are reasonable, the final outcomes of these matters may be different from those which we have reflected in our historical income tax provisions and accruals. Such differences could have a material effect on our income tax provision and operating results in the period in which we make such determination.

The total liability for unrecognized tax benefits at December 31, 2014, including interest and penalties, was approximately $1.9 million, of which approximately $1.6 million would favorably impact our effective tax rate if recognized. Approximately $563,000 of the total liability at December 31, 2014 was presented as a reduction to non-current deferred income tax assets on our consolidated balance sheet as of that date. The total liability for unrecognized tax benefits at December 31, 2013, including interest and penalties, was approximately $2.3 million, of which approximately $1.7 million would favorably impact our effective tax rate if recognized. Approximately $236,000 of the total liability at December 31, 2013 was presented as a reduction to non-current deferred income tax assets on our consolidated balance sheet as of that date. As of December 31, 2014 and 2013, we had accrued approximately $181,000 and $139,000 respectively, in total interest and penalties related to unrecognized tax benefits. We account for interest and penalties for unrecognized tax benefits as part of our income tax provision. During the year ended December 31, 2014, we added interest and penalties of approximately $42,000 to our liability for unrecognized tax benefits. During the years ended December 31, 2013 and 2012, we removed interest and penalties of approximately $22,000, and $215,000, respectively, from our liability for unrecognized tax benefits. The decrease in interest and penalties during 2012 was primarily related to an interest payment to the IRS in order to settle a withholding tax issue related to our acquisition of BioSphere. We anticipate the total liability for unrecognized tax benefits may be reduced, net of potential increases and decreases due to the expiration of statutes of limitation, by a range of approximately $400,000 to $800,000 within the next 12 months.

A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax benefits for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



Tabular Roll-forward	2014			2013			2012

Unrecognized tax benefits, opening balance	$	2,129		$	2,776		$	3,113
Gross increases in tax positions taken in a prior year	142			107			83
Gross increases in tax positions taken in the current year	309			236			260
Lapse of applicable statute of limitations	(844		)	(990		)	(680		)
Unrecognized tax benefits, ending balance	$	1,736		$	2,129		$	2,776

The tabular roll-forward ending balance does not include interest and penalties related to unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Revolving Credit Facility and Long-Term Debt

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Revolving Credit Facility and Long-Term Debt

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

We entered into an Amended and Restated Credit Agreement, dated December 19, 2012, with the lenders who are or may become party thereto (collectively, the "Lenders") and Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent for the Lenders, which was amended on October 4, 2013 by a First Amendment to the Amended and Restated Credit Agreement by and among Merit, certain subsidiaries of Merit, the Lenders and Wells Fargo as administrative agent for the Lenders (as amended, the "Credit Agreement"). Pursuant to the terms of the Credit Agreement, the Lenders have agreed to make revolving credit loans up to an aggregate amount of $215 million. The Lenders also made a term loan in the amount of $100 million, repayable in quarterly installments in the amounts provided in the Credit Agreement until the maturity date of December 19, 2017, at which time the term and revolving credit loans, together with accrued interest thereon, will be due and payable. In addition, certain mandatory prepayments are required to be made upon the occurrence of certain events described in the Credit Agreement. Wells Fargo has agreed, upon satisfaction of certain conditions, to make swingline loans from time to time through the maturity date in amounts equal to the difference between the amounts actually loaned by the Lenders and the aggregate revolving credit commitment. The Credit Agreement is collateralized by substantially all of our assets. At any time prior to the maturity date, we may repay any amounts owing under all revolving credit loans, term loans, and all swingline loans in whole or in part, subject to certain minimum thresholds, without premium or penalty, other than breakage costs.

The term loan and any revolving credit loans made under the Credit Agreement bear interest, at our election, at either (i) the base rate (described below) plus 0.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1), (ii) the London Inter-Bank Offered Rate (“LIBOR”) Market Index Rate (as defined in the Credit Agreement) plus 1.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1), or (iii) the LIBOR Rate (as defined in the Credit Agreement) plus 1.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1). Initially, the term loan and revolving credit loans under the Credit Agreement bear interest, at our election, at either (x) the base rate plus 1.00%, (y) the LIBOR Market Index Rate, plus 2.00%, or (z) the LIBOR Rate plus 2.00%. Swingline loans bear interest at the LIBOR Market Index Rate plus 1.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1). Initially, swingline loans bear interest at the LIBOR Market Index Rate plus 2.00%. Interest on each loan featuring the base rate or the LIBOR Market Index Rate is due and payable on the last business day of each calendar month; interest on each loan featuring the LIBOR Rate is due and payable on the last day of each interest period selected by us when selecting the LIBOR Rate as the benchmark for interest calculation. For purposes of the Credit Agreement, the base rate means the highest of (i) the prime rate (as announced by Wells Fargo), (ii) the federal funds rate plus 0.50%, and (iii) LIBOR for an interest period of one month plus 1.00%. Our obligations under the Credit Agreement and all loans made thereunder are fully secured by a security interest in our assets pursuant to a separate collateral agreement entered into in conjunction with the Credit Agreement.

The Credit Agreement contains customary covenants, representations and warranties and other terms customary for revolving credit loans of this nature. In this regard, the Credit Agreement requires us to not, among other things, (a) permit the Consolidated Total Leverage Ratio (as defined in the Credit Agreement) to be greater than 4.75 to 1 through the end of 2013, no more than 4.00 to 1 as of the fiscal quarter ending March 31, 2014, no more than 3.75 to 1 as of the fiscal quarter ending June 30, 2014, no more than 3.50 to 1 as of the fiscal quarter ending September 30, 2014, no more than 3.25 to 1 as of the fiscal quarter ending December 31, 2014, no more than 3.00 to 1 as of any fiscal quarter ending during 2015, no more than 2.75 to 1 as of any fiscal quarter ending during 2016, and no more than 2.50 to 1 as of any fiscal quarter ending thereafter; (b) for any period of four consecutive fiscal quarters, permit the ratio of Consolidated EBITDA (as defined in the Credit Agreement and subject to certain adjustments) to Consolidated Fixed Charges (as defined in the Credit Agreement) to be less than 1.75 to 1; (c) subject to certain adjustments, permit Consolidated Net Income (as defined in the Credit Agreement) for certain periods to be less than $0; or (d) subject to certain conditions and adjustments, permit the aggregate amount of all Facility Capital Expenditures (as defined in the Credit Agreement) in any fiscal year beginning in 2013 to exceed $30 million. Additionally, the Credit Agreement contains various negative covenants with which we must comply, including, but not limited to, limitations respecting: the incurrence of indebtedness, the creation of liens or pledges on our assets, mergers or similar combinations or liquidations, asset dispositions, the repurchase or redemption of equity interests or debt, the issuance of equity, the payment of dividends and certain distributions, the entry into related party transactions and other provisions customary in similar types of agreements. As of December 31, 2014, we were in compliance with all covenants set forth in the Credit Agreement.

We had originally entered into an unsecured credit agreement, dated September 30, 2010, with certain lenders who were or became party thereto and Wells Fargo, as administrative agent for the lenders. Pursuant to the terms of that credit agreement, the lenders agreed to make revolving credit loans up to an aggregate amount of $175 million. Wells Fargo also agreed to make swingline loans from time to time through the maturity date of September 10, 2015 in amounts equal to the difference between the amount actually loaned by the lenders and the aggregate credit agreement. The unsecured credit agreement was amended and restated as of December 19, 2012, as the Credit Agreement.

In summary, principal balances under our long-term debt as of December 31, 2014 and 2013, consisted of the following (in thousands):



	2014		2013
Term loan	$	82,500	$	92,500
Revolving credit loans	141,990		156,354
Total long-term debt	224,490		248,854
Less current portion	10,000		10,000
Long-term portion	$	214,490	$	238,854

Future minimum principal payments on our long-term debt as of December 31, 2014, are as follows (in thousands):



Years Ending	Future Minimum
December 31	Principal Payments
2015	$	10,000
2016	10,000
2017	204,490
Total future minimum principal payments	$	224,490

As of December 31, 2014, we had outstanding borrowings of approximately $224.5 million under the Credit Agreement, with available borrowings of approximately $27.5 million, based on the leverage ratio in the terms of the Credit Agreement. Our interest rate as of December 31, 2014 was a fixed rate of 2.98% on $140.0 million as a result of an interest rate swap (see Note 8), a variable floating rate of 2.17% on $84.3 million and a variable floating rate of 2.26% on approximately $0.2 million. Our interest rate as of December 31, 2013 was a fixed rate of 4.23% on $145.0 million as a result of an interest rate swap, variable floating rate of 3.42% on $101.5 million and a variable floating rate of 3.50% on approximately $2.4 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Derivatives	12 Months Ended
Derivatives	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES General. Our earnings and cash flows are subject to fluctuations due to changes in interest rates and foreign currency exchange rates, and we seek to mitigate a portion of these risks by entering into derivative contracts. The derivatives we use are an interest rate swap and foreign currency forward contracts. We recognize derivatives as either assets or liabilities at fair value in the accompanying consolidated balance sheets, regardless of whether or not hedge accounting is applied. We report cash flows arising from our hedging instruments consistent with the classification of cash flows from the underlying hedged items. Accordingly, cash flows associated with our derivative programs are classified as operating activities in the accompanying consolidated statements of cash flows. We formally document, designate and assess the effectiveness of transactions that receive hedge accounting initially and on an ongoing basis. Changes in the fair value of derivatives that qualify for hedge accounting treatment are recorded, net of applicable taxes, in accumulated other comprehensive income (loss), a component of stockholders’ equity in the accompanying consolidated balance sheets. For the ineffective portions of qualifying hedges, the change in fair value is recorded through earnings in the period of change. Changes in the fair value of derivatives not designated as cash flow hedges are recorded in earnings throughout the term of the derivative instrument. Interest Rate Swap. A portion of our debt bears interest at variable interest rates and therefore, we are subject to variability in the cash paid for interest expense. In order to mitigate a portion of this risk, we use a hedging strategy to reduce the variability of cash flows in the interest payments associated with a portion of the variable-rate debt outstanding under our Credit Agreement that is solely due to changes in the benchmark interest rate. On December 19, 2012, we entered into a pay-fixed, receive-variable interest rate swap having an initial notional amount of $150 million with Wells Fargo to fix the one-month LIBOR rate at 0.98%. The variable portion of the interest rate swap is tied to the one-month LIBOR rate (the benchmark interest rate). The interest rates under both the interest rate swap and the underlying debt reset, the swap is settled with the counterparty, and interest is paid, on a monthly basis. The notional amount of the interest rate swap is reduced quarterly by 50% of the minimum principal payment due under the terms of the Credit Agreement. The interest rate swap is scheduled to expire on December 19, 2017. At December 31, 2014 and 2013, our interest rate swap qualified as a cash flow hedge. The fair value of our interest rate swap at December 31, 2014 was an asset of approximately $573,000, which was offset by approximately $223,000 in deferred taxes. The fair value of our interest rate swap at December 31, 2013 was an asset of approximately $1.2 million, which was offset by approximately $468,000 in deferred taxes. During the years ended December 31, 2014, 2013 and 2012, the amount reclassified from accumulated other comprehensive income to earnings due to hedge effectiveness were included in interest expense in the accompanying consolidated statements of income and were not material. Foreign Currency Forward Contracts. On November 28, 2014, we forecasted a net exposure for December 31, 2014 (representing the difference between Euro and GBP-denominated receivables and Euro-denominated payables) of approximately 899,000 Euros and 572,000 GBPs. In order to partially offset such risks at November 28, 2014, we entered into a 30-day forward contract for the Euro and GBP with a notional amount of approximately 899,000 Euros and notional amount of 572,000 GBPs. On November 29, 2013, we forecasted a net exposure for December 31, 2013 (representing the difference between Euro and GBP-denominated receivables and Euro-denominated payables) of approximately 494,000 Euros and 847,000 GBPs. In order to partially offset such risks at November 29, 2013, we entered into a 30-day forward contract for the Euro and GBP with a notional amount of approximately 494,000 Euros and notional amount of 847,000 GBPs. We enter into similar transactions at various times during the year to partially offset exchange rate risks we bear throughout the year. These contracts are marked to market at each month-end. During the years ended December 31, 2014, 2013 and 2012, we recorded a net gain (loss) on all foreign currency transactions of approximately $36,000, $(202,000) and $(11,000), respectively, which is included in other income in the accompanying consolidated statements of income. The fair value of our open positions at December 31, 2014 and 2013 was not material.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

We are obligated under non-terminable operating leases for manufacturing facilities, finished good distribution, office space and equipment. Total rental expense on these operating leases and on our manufacturing and office building for the years ended December 31, 2014, 2013 and 2012, approximated $8.1 million, $5.5 million and $4.8 million, respectively.

The future minimum lease payments for operating leases as of December 31, 2014, consisted of the following (in thousands):



Years Ending	Operating
December 31	Leases

2015	$	8,870
2016	8,465
2017	7,438
2018	7,030
2019	7,038
Thereafter	42,626

Total minimum lease payments	$	81,467

Sale-Leaseback. During the year ended December 31, 2014, we entered into sale and leaseback transactions to finance certain production equipment for $5.5 million. The lease agreements from the sale and leaseback transactions are accounted for as operating leases. Under the terms of the lease agreement, we will continue to operate and maintain the equipment. The lease term is seven years. During the fourth quarter of 2013, we entered into a sale and leaseback transaction with a third-party lessor for the sale and leaseback of our Pearland, Texas facility for $24.0 million. The lease agreement from this sale and leaseback transaction is accounted for as an operating lease. Under the terms of the lease agreement, we will continue to operate and maintain the building. The lease term is 19.8 years. Payments under the lease agreement are fixed. The lease agreement contains standard termination events, including termination upon a breach of our obligation to make rental payments and upon any other material breach of obligations under the lease, and standard maintenance and return condition provisions.

Irish Government Development Agency Grants. As of December 31, 2014, we had entered into several grant agreements with the Irish Government Development Agency. We have recorded the grants related to research and development projects and costs of hiring and training employees as a reduction of operating expenses for the years ended December 31, 2014, 2013 and 2012 in the amounts of approximately $0, $1.2 million and $424,000, respectively. Grants related to the acquisition of property and equipment purchased in Ireland are amortized as a reduction to depreciation expense over lives corresponding to the depreciable lives of such property and equipment. The balance of deferred credits related to such grants as of December 31, 2014 and 2013, was approximately $2.9 million and $3.1 million, respectively. During the years ended December 31, 2014, 2013 and 2012, approximately $175,000, $139,000 and $174,000, respectively, of the deferred credit was amortized as a reduction of operating expenses.

We have committed to repay the Irish government for grants received if we cease production in Ireland prior to the expiration of the grant liability period. The grant liability period is usually between five and eight years from the last claim made on a grant. As of December 31, 2014, the total amount of grants that could be subject to refund was approximately $4.4 million, and the remaining grant liability period was four years. Our management does not currently believe we will have to repay any of these grant monies, as we have no current intention of ceasing operations in Ireland.

Litigation. In the ordinary course of business, we are involved in various claims and litigation matters. These claims and litigation matters may include actions involving product liability, intellectual property, contractual, and employment matters. We do not believe that any such actions are likely to be, individually or in the aggregate, material to our business, financial condition, results of operations or liquidity. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to our business, financial condition, results of operations or liquidity. Legal costs for these matters such as outside counsel fees and expenses are charged to expense in the period incurred.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Earnings Per Common Share (EPS)

12 Months Ended

Dec. 31, 2014

Earnings Per Share, Basic and Diluted [Abstract]

Earnings Per Common Share (EPS)

EARNINGS PER COMMON SHARE (EPS)

The computation of weighted average shares outstanding and the basic and diluted earnings per common share for the following periods consisted of the following (in thousands, except per share amounts):



	Net Income		Shares	Per Share Amount
Year ended December 31, 2014:
Basic EPS	$	22,974	43,143	$	0.53
Effect of dilutive stock options and warrants			266

Diluted EPS	$	22,974	43,409	$	0.53

Year ended December 31, 2013:
Basic EPS	$	16,570	42,607	$	0.39
Effect of dilutive stock options and warrants			277

Diluted EPS	$	16,570	42,884	$	0.39

Year ended December 31, 2012:
Basic EPS	$	19,710	42,176	$	0.47
Effect of dilutive stock options and warrants			434

Diluted EPS	$	19,710	42,610	$	0.46

For the years ended December 31, 2014, 2013 and 2012, approximately 1,292,000, 1,823,000 and 1,588,000, respectively, of stock options were not included in the computation of diluted earnings per share because their effect would have been anti-dilutive.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Employee Stock Purchase Plan Stock Options and Warrants

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employee Stock Purchase Plan Stock Options and Warrants

EMPLOYEE STOCK PURCHASE PLAN STOCK OPTIONS AND WARRANTS.

Our stock-based compensation primarily consists of the following plans:

2006 Long-Term Incentive Plan. In May 2006, our Board of Directors adopted and our shareholders approved, the Merit Medical Systems, Inc. 2006 Long-Term Incentive Plan (the “2006 Incentive Plan”). The 2006 Incentive Plan provides for the granting of stock options, stock appreciation rights, restricted stock, stock units (including restricted stock units) and performance awards. Options may be granted to directors, officers, outside consultants and key employees and may be granted upon such terms and such conditions as the Compensation Committee of our Board of Directors determines. Options will typically vest on an annual basis over a three to five year life (or one year if performance based) with contractual lives of seven to ten years. As of December 31, 2014, a total of approximately 447,000 shares remained available to be issued under the 2006 Incentive Plan.

Employee Stock Purchase Plan. We have a qualified and a non-qualified Employee Stock Purchase Plan (“ESPP”), which has an expiration date of June 30, 2016. As of December 31, 2014, the total number of shares of Common Stock that remained available to be issued under our qualified plan was approximately 205,000 shares and 51,000 shares for our non-qualified plan. ESPP participants purchase shares on a quarterly basis at a price equal to 95% of the market price of the Common Stock at the end of the applicable offering period.

Stock-Based Compensation Expense. The stock-based compensation expense before income tax expense for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012
Cost of goods sold	$	198	$	145	$	245
Research and development	69		87		119
Selling, general, and administrative	1,193		1,235		1,553
Stock-based compensation expense before taxes	$	1,460	$	1,467	$	1,917

We recognize stock-based compensation expense (net of a forfeiture rate) for those awards which are expected to vest on a straight-line basis over the requisite service period. We estimate the forfeiture rate based on our historical experience and expectations about future forfeitures. As of December 31, 2014, the total remaining unrecognized compensation cost related to non-vested stock options, net of expected forfeitures, was approximately $4.9 million and is expected to be recognized over a weighted average period of 3.6 years.

In applying the Black-Scholes methodology to the option grants, the fair value of our stock-based awards granted were estimated using the following assumptions for the periods indicated below:



	2014			2013			2012
Risk-free interest rate	1.53%	-	1.97%	0.65%	-	1.16%	0.54%	-	0.95%
Expected option life	5.0	-	5.5 years	4.2	-	6.0 years	4.2	-	6.0 years
Expected dividend yield	—%			—%			—%
Expected price volatility	34.52%	-	36.90%	34.08%	-	41.67%	42.01%	-	44.56%

The average risk-free interest rate is determined using the U.S. Treasury rate in effect as of the date of grant, based on the expected term of the stock option. We determine the expected term of the stock options using the historical exercise behavior of employees. The expected price volatility was determined using a weighted average of daily historical volatility of our stock price over the corresponding expected option life and implied volatility based on recent trends of the daily historical volatility. For options with a vesting period, compensation expense is recognized on a straight-line basis over the service period, which corresponds to the vesting period. Compensation expense is recognized immediately for options that are fully vested on the date of grant. During the years ended December 31, 2014, 2013 and 2012, approximately 666,000, 348,000 and 128,000 stock-based compensation grants were made, respectively, for a total fair value of approximately $2.8 million, $1.4 million and $677,000, net of estimated forfeitures, respectively.

The table below presents information related to stock option activity for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	2014		2013		2012
Total intrinsic value of stock options exercised	$	3,505	$	1,649	$	3,472
Cash received from stock option exercises	7,697		3,281		3,325
Excess tax benefit from the exercise of stock options	576		259		877

Changes in stock options for the year ended December 31, 2014, consisted of the following (shares and intrinsic value in thousands):



	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Term (in years)	Intrinsic Value
2014:
Beginning balance	3,008		$	12.14
Granted	666		12.59
Exercised	(878	)	11.03
Forfeited/expired	(5	)	13.52
Outstanding at December 31	2,791		12.60		3.7	$	13,210
Exercisable	1,475		12.44		3.6	7,209
Ending vested and expected to vest	2,710		12.60		1.9	12,833

The weighted average grant-date fair value of options granted during the years ended December 31, 2014, 2013 and 2012 was $4.27, $5.31 and $5.28, respectively.

The following table summarizes information about stock options outstanding at December 31, 2014 (shares in thousands):



				Options Outstanding				Options Exercisable
Range of Exercise				Number Outstanding	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$	9.71	-	$11.53	778	1.32	$	10.80	678	$	10.93
$	12.06	-	$13.14	779	6.21	12.40		67	13.02
$	13.16	-	$13.16	85	2.48	13.16		70	13.16
$	13.75	-	$16.41	1,149	3.58	13.90		660	13.86
$	9.71	-	$16.41	2,791				1,475

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Segment Reporting and Foreign Operations

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Reporting and Foreign Operations

SEGMENT REPORTING AND FOREIGN OPERATIONS

We report our operations in two operating segments: cardiovascular and endoscopy. Our cardiovascular segment consists of cardiology and radiology medical device products which assist in diagnosing and treating coronary artery disease, peripheral vascular disease and other non-vascular diseases and includes embolization devices and the CRM/EP devices we acquired through our acquisition of Thomas Medical. Our endoscopy segment consists of gastroenterology and pulmonology medical device products which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors. We evaluate the performance of our operating segments based on operating income (loss). Listed below are the sales by business segment for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	% Change		2014		% Change		2013		% Change		2012

Cardiovascular
Stand-alone devices	15	%	$	143,712	10	%	$	125,445	12	%	$	114,242
Custom kits and procedure trays	7	%	111,076		10	%	103,700		3	%	94,586
Inflation devices	10	%	72,538		(4	)%	66,182		2	%	68,979
Catheters	17	%	87,550		16	%	75,131		17	%	64,878
Embolization devices	31	%	43,855		(1	)%	33,395		8	%	33,870
CRM/EP	17	%	32,975		1,359	%	28,271		—	%	1,938
Total	14	%	491,706		14	%	432,124		9	%	378,493

Endoscopy
Endoscopy devices	6	%	17,983		7	%	16,925		31	%	15,795

Total	14	%	$	509,689	14	%	$	449,049	10	%	$	394,288

During the years ended December 31, 2014, 2013 and 2012, we had foreign sales of approximately $198.3 million, $165.8 million and $146.3 million, respectively, or approximately 39%, 37% and 37%, respectively, of total sales, primarily in China, Japan, Germany, France, the United Kingdom and Russia. Foreign sales are attributed based on location of the customer receiving the product.

Our long-lived assets by geographic area at December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012
United States	$	177,627	$	178,130	$	176,644
Ireland	49,708		50,274		48,182
Other foreign countries	16,836		14,866		9,977
Total	$	244,171	$	243,270	$	234,803

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2014, 2013 and 2012, are as follows (in thousands):



	2014			2013			2012
Revenues
Cardiovascular	$	491,706		$	432,124		$	378,493
Endoscopy	17,983			16,925			15,795
Total revenues	509,689			449,049			394,288

Operating expenses
Cardiovascular	175,152			157,479			142,089
Endoscopy	9,904			9,044			10,262
Total operating expenses	185,056			166,523			152,351

Operating income (loss)
Cardiovascular	38,601			26,597			30,411
Endoscopy	1,565			1,247			(770		)
Total operating income	40,166			27,844			29,641

Total other expense - net	(8,594		)	(8,005		)	(2,023		)
Income tax expense	8,598			3,269			7,908

Net income	$	22,974		$	16,570		$	19,710

Total assets by business segment at December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012
Cardiovascular	$	734,940	$	716,659	$	692,689
Endoscopy	12,225		11,624		12,620
Total	$	747,165	$	728,283	$	705,309

Total depreciation and amortization by business segment for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012

Cardiovascular	$	34,975	$	31,594	$	21,441
Endoscopy	954		948		1,093
Total	$	35,929	$	32,542	$	22,534

Total capital expenditures by business segment for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012

Cardiovascular	$	33,660	$	59,421	$	64,059
Endoscopy	521		84		584
Total	$	34,181	$	59,505	$	64,643

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Royalty Agreements	12 Months Ended
Royalty Agreements	Dec. 31, 2014
Royalty Agreements [Abstract]
Royalty Agreements	ROYALTY AGREEMENTS During 2010, in connection with our acquisition of BioSphere, we entered into a running royalty agreement as part of a partnership between BioSphere and L’Assistance Publique-Hôpitaux de Paris, referred to as “AP-HP,” pursuant to which AP-HP has granted us the exclusive license to use two United States patents and their foreign counterparts that we jointly own with AP-HP relating to microspheres. We are required to pay to AP-HP a royalty on the commercial sale of any products that incorporate technology covered by the subject patents. We may sublicense these exclusive rights under the agreement only with the prior written consent of AP-HP, which consent cannot be unreasonably withheld. Under the terms of the royalty agreement, our exclusive license extends for both (i) the term of jointly owned U.S. and foreign counterpart patents and (ii) as long as the products and specialties implementing the patents are marketed. BioSphere filed patent applications which, if issued, will expire in approximately January 2031. The royalty rate in the agreement is 5.0% of net sales until the patents expire, and 2.5% of net sales thereafter as long as the product is sold. We paid or accrued approximately $1.5 million, $1.3 million and $1.4 million in royalty payments to AP-HP for the years ended December 31, 2014, 2013 and 2012, respectively. See Note 2 for a discussion of additional future royalty commitments related to acquisitions.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2014
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS We have a contributory 401(k) savings and profit sharing plan (the “Plan”) covering all U.S. full-time employees who are at least 18 years of age. The Plan has a 90-day minimum service requirement. We may contribute, at our discretion, matching contributions based on the employees’ compensation. Contributions we made to the Plan for the years ended December 31, 2014, 2013 and 2012, totaled approximately $1.8 million, $429,000 and $1.5 million, respectively. We have defined contribution plans covering some of our foreign employees. We contribute between 2% and 32% of the employee’s compensation for certain foreign non-management employees, and between 2% and 32% of the employee’s compensation for certain foreign management employees. Contributions made to these plans for the years ended December 31, 2014, 2013 and 2012, totaled approximately $912,000, $748,000 and $724,000, respectively.

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

Quarterly data for the years ended December 31, 2014 and 2013 consisted of the following (in thousands, except per share amounts):



	Quarter Ended
	March 31			June 30		September 30		December 31
2014
Net sales	$	119,236		$	128,865	$	128,808	$	132,780
Gross profit	52,043			55,624		57,421		60,134
Income from operations	6,489			7,384		12,076		14,217
Income tax expense	1,063			1,366		2,489		3,680
Net income	2,823			3,716		7,764		8,671
Basic earnings per common share	0.07			0.09		0.18		0.20
Diluted earnings per common share	0.07			0.09		0.18		0.20

2013
Net sales	$	103,948		$	109,875	$	115,210	$	120,016
Gross profit	42,993			46,985		51,030		53,359
Income from operations	1,757			6,780		8,391		10,916
Income tax expense (benefit)	(459		)	1,253		833		1,642
Net income	671			3,752		5,607		6,540
Basic earnings per common share	0.02			0.09		0.13		0.15
Diluted earnings per common share	0.02			0.09		0.13		0.15

Basic and diluted earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarterly amounts may not equal the total computed for the year.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of December 31, 2014 and 2013, consisted of the following (in thousands):

Fair Value Measurements Using

Total Fair

Quoted prices in

Significant other

Significant

Value at

active markets

observable inputs

Unobservable inputs

Description

December 31, 2014

(Level 1)

(Level 2)

(Level 3)

Interest rate swap (1)

573

—

573

—

Fair Value Measurements Using

Total Fair

Quoted prices in

Significant other

Significant

Value at

active markets

observable inputs

Unobservable inputs

Description

December 31, 2013

(Level 1)

(Level 2)

(Level 3)

Interest rate swap (1)

1,203

—

1,203

—

(1) The fair value of the interest rate swap is determined based on forward yield curves.

Certain of our business combinations involve the potential for the payment of future contingent consideration, generally based on a percentage of future product sales or upon attaining specified future revenue milestones. See Note 2 for further information regarding these acquisitions. The contingent consideration liability is re-measured at the estimated fair value at each reporting period with the change in fair value recognized within operating expenses in the accompanying consolidated statements of income. We measure the initial liability and re-measure the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements. Changes in the fair value of our contingent consideration liability during the years ended December 31, 2014 and 2013, consisted of the following (in thousands):



	2014			2013
Beginning balance	$	2,526		$	6,697
Fair value adjustments recorded to income during the period	(572		)	(4,094		)
Contingent payments made	(68		)	(77		)
Ending balance	$	1,886		$	2,526

The recurring Level 3 measurement of our contingent consideration liability includes the following significant unobservable inputs at December 31, 2014 and 2013 (amount in thousands):



Contingent consideration liability	Fair value at December 31, 2014		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	1,610	Discounted cash flow	Discount rate	1% - 14%
			Discounted cash flow	Probability of milestone payment	90%
				Projected year of payments	2015-2028

Other payments	$	276	Discounted cash flow	Discount rate	5%
			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2015-2016

Contingent consideration liability	Fair value at December 31, 2013		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	2,282	Discounted cash flow	Discount rate	11% - 15%
			Discounted cash flow	Probability of milestone payment	90%
				Projected year of payments	2014-2028

Other payments	$	244	Discounted cash flow	Discount rate	5.4%
			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2014-2016

The contingent consideration liability is re-measured to fair value each reporting period using projected revenues, discount rates, probabilities of payment, and projected payment dates. Projected contingent payment amounts are discounted back to the current period using a discounted cash flow model. Projected revenues are based on our most recent internal operational budgets and long-range strategic plans. Increases (decreases) in discount rates and the time to payment may result in lower (higher) fair value measurements. A decrease in the probability of any milestone payment may result in lower fair value measurements. An increase (decrease) in either the discount rate or the time to payment, in isolation, may result in a significantly lower (higher) fair value measurement.

Our determination of the fair value of the contingent consideration liability could change in future periods based upon our ongoing evaluation of these significant unobservable inputs. We intend to record any such change in fair value to operating expenses in our consolidated statements of income. As of December 31, 2014, approximately $803,000 was included in other long-term obligations and $1.1 million was included in accrued expenses in our consolidated balance sheet. As of December 31, 2013, approximately $2.3 million was included in other long-term obligations and $274,000 was included in accrued expenses in our consolidated balance sheet. The cash paid to settle the contingent consideration liability recognized at fair value as of the acquisition date (including measurement-period adjustments) has been reflected as a cash outflow from financing activities in the accompanying consolidated statements of cash flows.

During the years ended December 31, 2014, 2013 and 2012, we had losses of approximately $1.4 million, $8.2 million, and $55,000, respectively, related to the measurement of non-financial assets at fair value on a nonrecurring basis subsequent to their initial recognition. Of the total loss in 2014, approximately $1.1 million related to the impairment of our intangible assets related to our Ostial acquisition (see Note 4) during the third quarter of 2014. The non-recurring fair value of the Ostial intangible asset as of September 30, 2014 was approximately $447,000 for developed technology. The fair value of these non-financial assets was measured using Level 3 inputs.

During the quarter ended December 31, 2012, we recognized an impairment charge of approximately $2.4 million, which is included in other expense in the accompanying consolidated statement of income, related to an investment in a privately-held company accounted for at cost. As of December 31, 2012, there was no remaining cost included in our consolidated balance sheets related to this investment, which we deemed to be an appropriate valuation due to the financial position of the investee.

The carrying amount of cash and cash equivalents, receivables, and trade payables approximates fair value because of the immediate, short-term maturity of these financial instruments. The carrying amount of long-term debt approximates fair value, as determined by borrowing rates estimated to be available to us for debt with similar terms and conditions. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash and cash equivalents (Level 1).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Schedule II - Valuation and qualifying accounts

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and qualifying accounts

(2) Financial Statement Schedule.

— Schedule II - Valuation and qualifying accounts

Years Ended December 31, 2014, 2013 and 2012

(In thousands)



Description	Balance at Beginning of Year			Additions Charged to Costs and Expenses (a)			Deduction (b)		Balance at End of Year

ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS:

2012	$	(464	)	$	(545	)	$	117	$	(892	)
2013	(892		)	(376		)	428		(840		)
2014	(840		)	(83		)	30		(893		)

(a) We record a bad debt provision based upon historical experience and a review of individual customer balances.

(b) When an individual customer balance becomes impaired and is deemed uncollectible, a deduction is made against the allowance for uncollectible accounts.

Years Ended December 31, 2014, 2013 and 2012

(In thousands)



Description	Balance at Beginning of Year			Additions Charged to Costs and Expenses (c)			Deduction		Balance at End of Year

TAX VALUATION ALLOWANCE:

2012	$	(361	)	$	(864	)	$	—	$	(1,225	)
2013	(1,225		)	(138		)	—		(1,363		)
2014	(1,363		)	(240		)	—		(1,603		)

(c) We record a valuation allowance against a deferred tax asset when it is determined that it is more likely than not that the deferred tax asset will not be realized.

Organization and Summary of Significant Accounting Policies Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Use of Estimates in Preparing Financial Statements

Principles of Consolidation

Principles of Consolidation. The consolidated financial statements include our wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated.

Cash and Cash Equivalents

Cash and Cash Equivalents. For purposes of the statements of cash flows, we consider interest bearing deposits with an original maturity date of three months or less to be cash equivalents.

Receivables

Inventories

Goodwill and Intangible Assets



Customer lists	2	-	15 years
Developed technology	5	-	15 years
Distribution agreements	3	-	12 years
License agreements and trademarks	3	-	15 years
Covenant not to compete	3	-	10 years
Patents	17 years
Royalty agreements	5 years

Long-Lived Assets

Property and Equipment



Buildings	40 years
Manufacturing equipment	4	-	20 years
Furniture and fixtures	3	-	20 years
Land improvements	10	-	20 years
Leasehold improvements	4	-	25 years

Deferred Compensation

Other Assets

Deferred Credits

Revenue Recognition

Shipping and Handling Cost

Cost of Sales

Research and Development

Research and Development. Research and development costs are expensed as incurred.

Income Taxes

Earnings per Common Share

Fair Value Measurements

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

Stock-Based Compensation

Concentration of Credit Risk

Foreign Currency

Derivatives

Recently Issued Financial Accounting Standards

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Intangible Assets

Intangible assets are amortized on a straight-line basis, except for customer lists, which are generally amortized on an accelerated basis, over the following useful lives:



Customer lists	2	-	15 years
Developed technology	5	-	15 years
Distribution agreements	3	-	12 years
License agreements and trademarks	3	-	15 years
Covenant not to compete	3	-	10 years
Patents	17 years
Royalty agreements	5 years

Property and Equipment

Depreciation is computed using the straight-line method over estimated useful lives as follows:



Buildings	40 years
Manufacturing equipment	4	-	20 years
Furniture and fixtures	3	-	20 years
Land improvements	10	-	20 years
Leasehold improvements	4	-	25 years

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

Thomas Medical Products, Inc

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase price was allocated as follows (in thousands):



Assets Acquired
Trade receivables	$	6,507
Inventories	5,459
Prepaid expenses	340
Property and equipment	2,685
Intangibles
Developed technology	43,000
Non-compete agreements	500
Customer lists	5,000
Trademarks	1,400
Goodwill	102,407
Total assets acquired	167,298

Liabilities Assumed
Trade payables	588
Accrued expenses	1,094
Total liabilities assumed	1,682

Net assets acquired, net of cash acquired of $1,829	$	165,616

Business Acquisition, Pro Forma Information



	2013				2012
	As Reported		Pro Forma		As Reported		Pro Forma
Net sales	$	449,049	$	454,333	$	394,288	$	438,981
Net income	16,570		17,112		19,710		25,075
Earnings per common share:
Basic	$	0.39	$	0.40	$	0.47	$	0.59
Diluted	$	0.39	$	0.40	$	0.46	$	0.59

MediGroup

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase price, which includes the contingent consideration liability described above, was allocated as follows (in thousands):



Assets Acquired
Inventories	$	263
Property and equipment	79
Intangibles
Developed technology	2,000
Non-compete agreements	210
Customer lists	110
Trademarks	80
Goodwill	1,697

Total assets acquired	$	4,439

Ostial Solutions, LLC

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase price, which includes the contingent consideration liability described above, was allocated as follows (in thousands):



Assets Acquired
Intangibles
Developed technology	$	10,500
Customer lists	600
Trademark	110
Non-compete agreements	10
Goodwill	9,580

Total assets acquired	$	20,800

Datascope

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase price was allocated as follows (in thousands):



Assets Acquired
Inventories	$	478
Intangibles
Developed technology	18,200
Customer lists	390
Trademarks	320
Goodwill	8,112

Total assets acquired	$	27,500

Radial Assist

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase price was allocated as follows (in thousands):



Assets Acquired
Inventories	$	16
Intangibles
Developed technology	1,520
Customer lists	20
Trademarks	40
Goodwill	904

Total assets acquired	$	2,500

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in carrying amount of goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2014 and 2013, are as follows (in thousands):



	2014			2013
Goodwill balance at January 1	$	184,505		$	175,108
Effect of foreign exchange	(41		)	$	—
Adjustment related to previous acquisitions	—			381
Additions as the result of acquisitions	—			9,016
Goodwill balance at December 31	$	184,464		$	184,505

Other intangible assets

Other intangible assets at December 31, 2014 and 2013, consisted of the following (in thousands):



	2014
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	10,199	$	(2,196	)	$	8,003
Distribution agreements	5,376		(2,285		)	3,091
License agreements	8,995		(1,823		)	7,172
Trademarks	7,298		(2,079		)	5,219
Covenants not to compete	1,029		(636		)	393
Customer lists	20,452		(13,194		)	7,258
Royalty agreements	267		(267		)	—

Total	$	53,616	$	(22,480	)	$	31,136



	2013
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	9,302	$	(2,374	)	$	6,928
Distribution agreements	5,176		(1,780		)	3,396
License agreements	3,783		(1,249		)	2,534
Trademarks	7,622		(1,844		)	5,778
Covenants not to compete	1,029		(399		)	630
Customer lists	20,626		(10,957		)	9,669
Royalty agreements	267		(267		)	—

Total	$	47,805	$	(18,870	)	$	28,935

Estimated amortization expense

Estimated amortization expense for the developed technology and other intangible assets for the next five years consists of the following as of December 31, 2014 (in thousands):



Year Ending December 31
2015	$	14,525
2016	14,381
2017	13,911
2018	13,197
2019	12,916

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, 2014, 2013 and 2012, income before income taxes is broken out between U.S. and foreign-sourced operations and consisted of the following (in thousands):



	2014		2013		2012
Domestic	$	16,961	$	5,435	$	15,958
Foreign	14,611		14,404		11,660

Total	$	31,572	$	19,839	$	27,618

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014			2013			2012

Current expense (benefit):
Federal	$	1,316		$	(747	)	$	5,350
State	768			333			1,014
Foreign	2,644			2,324			995

Total current expense	4,728			1,910			7,359

Deferred expense (benefit):
Federal	4,078			1,089			871
State	(119		)	278			(343		)
Foreign	(89		)	(8		)	21

Total deferred expense	3,870			1,359			549

Total income tax expense	$	8,598		$	3,269		$	7,908

Schedule of Effective Income Tax Rate Reconciliation



	2014			2013			2012

Computed federal income tax expense at statutory rate of 35%	$	11,050		$	6,943		$	9,667
State income taxes	438			397			436
Tax credits	(888		)	(1,385		)	(779		)
Production activity deduction	—			—			(388		)
Foreign tax rate differential	(1,958		)	(2,374		)	(1,419		)
Uncertain tax positions	(76		)	(520		)	(42		)
Deferred compensation insurance assets	(81		)	(358		)	(155		)
Other — including the effect of graduated rates	113			566			588

Total income tax expense	$	8,598		$	3,269		$	7,908

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities at December 31, 2014 and 2013, consisted of the following temporary differences and carry-forward items (in thousands):



	2014			2013

Deferred income tax assets:
Allowance for uncollectible accounts receivable	$	366		$	342
Accrued compensation expense	5,492			5,001
Inventory differences	2,401			2,317
Net operating loss carryforwards	13,542			18,060
Deferred revenue	87			280
Stock-based compensation expense	2,479			2,704
Uncertain tax positions	284			559
Federal research and development credit carryforward	1,413			569
Foreign Tax Credits	1,374			—
Other	4,173			3,197
Total deferred income tax assets	31,611			33,029

Deferred income tax liabilities:
Prepaid expenses	(708		)	(751		)
Property and equipment	(23,298		)	(21,893		)
Intangible assets	(4,853		)	(3,837		)
Other	(1,150		)	(1,295		)
Total deferred income tax liabilities	(30,009		)	(27,776		)
Valuation allowance	(1,603		)	(1,363		)
Net deferred income tax assets (liabilities)	$	(1	)	$	3,890

Reported as:
Deferred income tax assets - Current	$	6,375		$	5,638
Deferred income tax assets - Long-term	9			800
Deferred income tax liabilities - Current	—			—
Deferred income tax liabilities - Long-term	(6,385		)	(2,548		)

Net deferred income tax assets (liabilities)	$	(1	)	$	3,890

Summary of Income Tax Contingencies



Tabular Roll-forward	2014			2013			2012

Unrecognized tax benefits, opening balance	$	2,129		$	2,776		$	3,113
Gross increases in tax positions taken in a prior year	142			107			83
Gross increases in tax positions taken in the current year	309			236			260
Lapse of applicable statute of limitations	(844		)	(990		)	(680		)
Unrecognized tax benefits, ending balance	$	1,736		$	2,129		$	2,776

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details

Revolving Credit Facility and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

In summary, principal balances under our long-term debt as of December 31, 2014 and 2013, consisted of the following (in thousands):



	2014		2013
Term loan	$	82,500	$	92,500
Revolving credit loans	141,990		156,354
Total long-term debt	224,490		248,854
Less current portion	10,000		10,000
Long-term portion	$	214,490	$	238,854

Schedule of Maturities of Long-term Debt

Future minimum principal payments on our long-term debt as of December 31, 2014, are as follows (in thousands):



Years Ending	Future Minimum
December 31	Principal Payments
2015	$	10,000
2016	10,000
2017	204,490
Total future minimum principal payments	$	224,490

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Earnings Per Common Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Share, Basic and Diluted [Abstract]

Schedule of Earnings Per Share, Basic and Diluted



	Net Income		Shares	Per Share Amount
Year ended December 31, 2014:
Basic EPS	$	22,974	43,143	$	0.53
Effect of dilutive stock options and warrants			266

Diluted EPS	$	22,974	43,409	$	0.53

Year ended December 31, 2013:
Basic EPS	$	16,570	42,607	$	0.39
Effect of dilutive stock options and warrants			277

Diluted EPS	$	16,570	42,884	$	0.39

Year ended December 31, 2012:
Basic EPS	$	19,710	42,176	$	0.47
Effect of dilutive stock options and warrants			434

Diluted EPS	$	19,710	42,610	$	0.46

Employee Stock Purchase Plan Stock Options and Warrants (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The stock-based compensation expense before income tax expense for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012
Cost of goods sold	$	198	$	145	$	245
Research and development	69		87		119
Selling, general, and administrative	1,193		1,235		1,553
Stock-based compensation expense before taxes	$	1,460	$	1,467	$	1,917

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

In applying the Black-Scholes methodology to the option grants, the fair value of our stock-based awards granted were estimated using the following assumptions for the periods indicated below:



	2014			2013			2012
Risk-free interest rate	1.53%	-	1.97%	0.65%	-	1.16%	0.54%	-	0.95%
Expected option life	5.0	-	5.5 years	4.2	-	6.0 years	4.2	-	6.0 years
Expected dividend yield	—%			—%			—%
Expected price volatility	34.52%	-	36.90%	34.08%	-	41.67%	42.01%	-	44.56%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable

The table below presents information related to stock option activity for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	2014		2013		2012
Total intrinsic value of stock options exercised	$	3,505	$	1,649	$	3,472
Cash received from stock option exercises	7,697		3,281		3,325
Excess tax benefit from the exercise of stock options	576		259		877

Schedule of Share-based Compensation, Stock Options, Activity

Changes in stock options for the year ended December 31, 2014, consisted of the following (shares and intrinsic value in thousands):



	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Term (in years)	Intrinsic Value
2014:
Beginning balance	3,008		$	12.14
Granted	666		12.59
Exercised	(878	)	11.03
Forfeited/expired	(5	)	13.52
Outstanding at December 31	2,791		12.60		3.7	$	13,210
Exercisable	1,475		12.44		3.6	7,209
Ending vested and expected to vest	2,710		12.60		1.9	12,833

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2014 (shares in thousands):



				Options Outstanding				Options Exercisable
Range of Exercise				Number Outstanding	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$	9.71	-	$11.53	778	1.32	$	10.80	678	$	10.93
$	12.06	-	$13.14	779	6.21	12.40		67	13.02
$	13.16	-	$13.16	85	2.48	13.16		70	13.16
$	13.75	-	$16.41	1,149	3.58	13.90		660	13.86
$	9.71	-	$16.41	2,791				1,475

Segment Reporting and Foreign Operations (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Revenue from External Customers by Products and Services

Listed below are the sales by business segment for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	% Change		2014		% Change		2013		% Change		2012

Cardiovascular
Stand-alone devices	15	%	$	143,712	10	%	$	125,445	12	%	$	114,242
Custom kits and procedure trays	7	%	111,076		10	%	103,700		3	%	94,586
Inflation devices	10	%	72,538		(4	)%	66,182		2	%	68,979
Catheters	17	%	87,550		16	%	75,131		17	%	64,878
Embolization devices	31	%	43,855		(1	)%	33,395		8	%	33,870
CRM/EP	17	%	32,975		1,359	%	28,271		—	%	1,938
Total	14	%	491,706		14	%	432,124		9	%	378,493

Endoscopy
Endoscopy devices	6	%	17,983		7	%	16,925		31	%	15,795

Total	14	%	$	509,689	14	%	$	449,049	10	%	$	394,288

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Our long-lived assets by geographic area at December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012
United States	$	177,627	$	178,130	$	176,644
Ireland	49,708		50,274		48,182
Other foreign countries	16,836		14,866		9,977
Total	$	244,171	$	243,270	$	234,803

Schedule of Segment Reporting Information, by Segment

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2014, 2013 and 2012, are as follows (in thousands):



	2014			2013			2012
Revenues
Cardiovascular	$	491,706		$	432,124		$	378,493
Endoscopy	17,983			16,925			15,795
Total revenues	509,689			449,049			394,288

Operating expenses
Cardiovascular	175,152			157,479			142,089
Endoscopy	9,904			9,044			10,262
Total operating expenses	185,056			166,523			152,351

Operating income (loss)
Cardiovascular	38,601			26,597			30,411
Endoscopy	1,565			1,247			(770		)
Total operating income	40,166			27,844			29,641

Total other expense - net	(8,594		)	(8,005		)	(2,023		)
Income tax expense	8,598			3,269			7,908

Net income	$	22,974		$	16,570		$	19,710

Reconciliation of Assets from Segment to Consolidated

Total assets by business segment at December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012
Cardiovascular	$	734,940	$	716,659	$	692,689
Endoscopy	12,225		11,624		12,620
Total	$	747,165	$	728,283	$	705,309

Segment Depreciation And Amortization

Total depreciation and amortization by business segment for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012

Cardiovascular	$	34,975	$	31,594	$	21,441
Endoscopy	954		948		1,093
Total	$	35,929	$	32,542	$	22,534

Segment Capital Expenditures

Total capital expenditures by business segment for the years ended December 31, 2014, 2013 and 2012, consisted of the following (in thousands):



	2014		2013		2012

Cardiovascular	$	33,660	$	59,421	$	64,059
Endoscopy	521		84		584
Total	$	34,181	$	59,505	$	64,643

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Quarterly data for the years ended December 31, 2014 and 2013 consisted of the following (in thousands, except per share amounts):



	Quarter Ended
	March 31			June 30		September 30		December 31
2014
Net sales	$	119,236		$	128,865	$	128,808	$	132,780
Gross profit	52,043			55,624		57,421		60,134
Income from operations	6,489			7,384		12,076		14,217
Income tax expense	1,063			1,366		2,489		3,680
Net income	2,823			3,716		7,764		8,671
Basic earnings per common share	0.07			0.09		0.18		0.20
Diluted earnings per common share	0.07			0.09		0.18		0.20

2013
Net sales	$	103,948		$	109,875	$	115,210	$	120,016
Gross profit	42,993			46,985		51,030		53,359
Income from operations	1,757			6,780		8,391		10,916
Income tax expense (benefit)	(459		)	1,253		833		1,642
Net income	671			3,752		5,607		6,540
Basic earnings per common share	0.02			0.09		0.13		0.15
Diluted earnings per common share	0.02			0.09		0.13		0.15

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of December 31, 2014 and 2013, consisted of the following (in thousands):

Fair Value Measurements Using

Total Fair

Quoted prices in

Significant other

Significant

Value at

active markets

observable inputs

Unobservable inputs

Description

December 31, 2014

(Level 1)

(Level 2)

(Level 3)

Interest rate swap (1)

573

—

573

—

Fair Value Measurements Using

Total Fair

Quoted prices in

Significant other

Significant

Value at

active markets

observable inputs

Unobservable inputs

Description

December 31, 2013

(Level 1)

(Level 2)

(Level 3)

Interest rate swap (1)

1,203

—

1,203

—

(1) The fair value of the interest rate swap is determined based on forward yield curves.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the fair value of our contingent consideration liability during the years ended December 31, 2014 and 2013, consisted of the following (in thousands):



	2014			2013
Beginning balance	$	2,526		$	6,697
Fair value adjustments recorded to income during the period	(572		)	(4,094		)
Contingent payments made	(68		)	(77		)
Ending balance	$	1,886		$	2,526

Fair Value Inputs, Liabilities, Quantitative Information

The recurring Level 3 measurement of our contingent consideration liability includes the following significant unobservable inputs at December 31, 2014 and 2013 (amount in thousands):



Contingent consideration liability	Fair value at December 31, 2014		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	1,610	Discounted cash flow	Discount rate	1% - 14%
			Discounted cash flow	Probability of milestone payment	90%
				Projected year of payments	2015-2028

Other payments	$	276	Discounted cash flow	Discount rate	5%
			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2015-2016

Contingent consideration liability	Fair value at December 31, 2013		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	2,282	Discounted cash flow	Discount rate	11% - 15%
			Discounted cash flow	Probability of milestone payment	90%
				Projected year of payments	2014-2028

Other payments	$	244	Discounted cash flow	Discount rate	5.4%
			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2014-2016

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details

Organization and Summary of Significant Accounting Policies - Intangible Assets (Details)	0 Months Ended								12 Months Ended
	Aug. 08, 2014 Distribution agreements	Aug. 21, 2012 Distribution agreements	Jan. 05, 2012 Distribution agreements	Nov. 25, 2014 License agreements and trademarks	Aug. 08, 2014 License agreements and trademarks	Jul. 15, 2014 License agreements and trademarks	Dec. 20, 2013 License agreements and trademarks	Sep. 10, 2013 License agreements and trademarks	Dec. 31, 2014 Patents	Dec. 31, 2014 Royalty agreements	Dec. 31, 2014 Minimum Customer lists	Dec. 31, 2014 Minimum Developed technology	Dec. 31, 2014 Minimum Distribution agreements	Dec. 31, 2014 Minimum License agreements and trademarks	Dec. 31, 2014 Minimum Covenant not to compete	Dec. 31, 2014 Maximum Customer lists	Dec. 31, 2014 Maximum Developed technology	Dec. 31, 2014 Maximum Distribution agreements	Dec. 31, 2014 Maximum License agreements and trademarks	Dec. 31, 2014 Maximum Covenant not to compete
Finite-Lived Intangible Assets [Line Items]
Useful life	3 years	10 years	12 years	10 years	12 years	10 years	4 years	10 years	17 years	5 years	2 years	5 years	3 years	3 years	3 years	15 years	15 years	12 years	15 years	10 years

Organization and Summary of Significant Accounting Policies - Property and Equipment (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Depreciation	$ 21.0	$ 18.4	$ 15.0
Building
Property, Plant and Equipment [Line Items]
Useful life	40 years
Minimum \| Manufacturing equipment
Property, Plant and Equipment [Line Items]
Useful life	4 years
Minimum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	3 years
Minimum \| Land improvements
Property, Plant and Equipment [Line Items]
Useful life	10 years
Minimum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life	4 years
Maximum \| Manufacturing equipment
Property, Plant and Equipment [Line Items]
Useful life	20 years
Maximum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	20 years
Maximum \| Land improvements
Property, Plant and Equipment [Line Items]
Useful life	20 years
Maximum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life	25 years

Organization and Summary of Significant Accounting Policies - Deferred Compensation (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash Surrender Value of Life Insurance	$ 9,000,000	$ 7,800,000
Deferred Compensation Liability, Classified, Noncurrent	$ 8,635,000	$ 7,833,000

Organization and Summary of Significant Accounting Policies - Stock Based Compensation (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allocated Share-based Compensation Expense	$ 1,460	$ 1,467	$ 1,917

Organization and Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Concentration Risk, Percentage	3.00%	3.00%	4.00%

Organization and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Loss) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated other comprehensive income (loss), interest rate swaps, net of tax	$ 350	$ 735
Accumulated other comprehensive income (loss), interest rate swap, tax benefit	(223)	(468)
Accumulated other comprehensive income (loss) related to foreign currency translation, net of tax	(2,800)	208
Accumulated other comprehensive income (loss), foreign currency translation, tax benefit	$ 202	$ 12

- Definition

Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References+ Details

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References+ Details

Acquisitions - Purchase Price Allocation (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 04, 2013 Radial Assist	Oct. 04, 2013 Datascope	Jan. 31, 2012 Ostial Solutions, LLC	Nov. 19, 2012 MediGroup	Dec. 19, 2012 Thomas Medical Products, Inc	Oct. 04, 2013 Developed technology Radial Assist	Oct. 04, 2013 Developed technology Datascope	Jan. 31, 2012 Developed technology Ostial Solutions, LLC	Nov. 19, 2012 Developed technology MediGroup	Dec. 19, 2012 Developed technology Thomas Medical Products, Inc	Oct. 04, 2013 Customer lists Radial Assist	Oct. 04, 2013 Customer lists Datascope	Jan. 31, 2012 Customer lists Ostial Solutions, LLC	Nov. 19, 2012 Customer lists MediGroup	Dec. 19, 2012 Customer lists Thomas Medical Products, Inc	Oct. 04, 2013 Trademarks Radial Assist	Oct. 04, 2013 Trademarks Datascope	Jan. 31, 2012 Trademarks Ostial Solutions, LLC	Nov. 19, 2012 Trademarks MediGroup	Dec. 19, 2012 Trademarks Thomas Medical Products, Inc	Jan. 31, 2012 Non-compete agreements Ostial Solutions, LLC	Nov. 19, 2012 Non-compete agreements MediGroup	Dec. 19, 2012 Non-compete agreements Thomas Medical Products, Inc
Business Acquisition [Line Items]
Trade receivables								$ 6,507
Inventories				16	478		263	5,459
Prepaid expenses								340
Property and equipment							79	2,685
Intangibles									1,520	18,200	10,500	2,000	43,000	20	390	600	110	5,000	40	320	110	80	1,400	10	210	500
Goodwill	184,464	184,505	175,108	904	8,112	9,580	1,697	102,407
Total assets acquired				2,500	27,500	20,800	4,439	167,298
Accounts payable								588
Accrued expenses								1,094
Total liabilities assumed								1,682
Net assets acquired, net of cash acquired								165,616
Cash acquired								$ 1,829

Acquisitions - Pro Forma Consolidated Results (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Business Combinations [Abstract]
Revenues	$ 132,780	$ 128,808	$ 128,865	$ 119,236	$ 120,016	$ 115,210	$ 109,875	$ 103,948	$ 509,689	$ 449,049	$ 394,288
Sales, Pro Forma										454,333	438,981
Net income									22,974	16,570	19,710
Net income, Pro Forma										$ 17,112	$ 25,075
EARNINGS PER COMMON SHARE:
Earnings per common share: basic (in dollars per share)	$ 0.20	$ 0.18	$ 0.09	$ 0.07	$ 0.15	$ 0.13	$ 0.09	$ 0.02	$ 0.53	$ 0.39	$ 0.47
Earnings per common share: basic, Pro Forma (in dollars per share)										$ 0.40	$ 0.59
Earnings per common share: diluted (in dollars per share)	$ 0.20	$ 0.18	$ 0.09	$ 0.07	$ 0.15	$ 0.13	$ 0.09	$ 0.02	$ 0.53	$ 0.39	$ 0.46
Earnings per common share: diluted, Pro Forma (in dollars per share)										$ 0.40	$ 0.59

Acquisitions - Narrative (Details)	0 Months Ended	1 Months Ended	5 Months Ended	12 Months Ended					0 Months Ended		0 Months Ended			0 Months Ended									0 Months Ended			1 Months Ended										0 Months Ended								0 Months Ended		0 Months Ended	12 Months Ended			0 Months Ended	12 Months Ended	0 Months Ended				12 Months Ended	0 Months Ended					1 Months Ended	12 Months Ended			0 Months Ended					12 Months Ended		0 Months Ended					1 Months Ended		12 Months Ended	0 Months Ended
Acquisitions - Narrative (Details)	Jul. 15, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Nov. 25, 2014 EUR (€)	Aug. 08, 2014 USD ($)	Aug. 07, 2012 Blockade Medical LLC USD ($)	Aug. 07, 2012 Blockade Medical LLC	Oct. 04, 2013 Wells Fargo Credit Agreement USD ($)	Dec. 19, 2012 Wells Fargo Credit Agreement USD ($)	Aug. 07, 2012 Special Membership Units Blockade Medical LLC	Nov. 25, 2014 License agreements and trademarks	Aug. 08, 2014 License agreements and trademarks	Jul. 15, 2014 License agreements and trademarks	Dec. 20, 2013 License agreements and trademarks	Dec. 20, 2013 License agreements and trademarks USD ($)	Sep. 10, 2013 License agreements and trademarks USD ($)	Dec. 31, 2014 License agreements and trademarks USD ($)	Dec. 31, 2013 License agreements and trademarks USD ($)	Sep. 10, 2013 License agreements and trademarks USD ($)	Aug. 08, 2014 Distribution agreements	Aug. 21, 2012 Distribution agreements USD ($)	Jan. 05, 2012 Distribution agreements	May 31, 2012 Distribution agreements USD ($)	Jan. 31, 2012 Distribution agreements USD ($)	Dec. 31, 2014 Distribution agreements USD ($)	Aug. 08, 2014 Distribution agreements USD ($)	Dec. 31, 2013 Distribution agreements USD ($)	Aug. 21, 2012 Distribution agreements USD ($)	Jan. 05, 2012 Distribution agreements USD ($)	Dec. 31, 2014 Developed technology USD ($)	Aug. 08, 2014 Developed technology USD ($)	Dec. 31, 2013 Developed technology USD ($)	Jan. 05, 2012 Customer Lists	Dec. 31, 2014 Customer Lists USD ($)	Dec. 31, 2013 Customer Lists USD ($)	Jan. 05, 2012 Customer Lists USD ($)	Dec. 31, 2014 Trademarks USD ($)	Dec. 31, 2013 Trademarks USD ($)	Dec. 31, 2014 Non-compete agreements USD ($)	Dec. 31, 2013 Non-compete agreements USD ($)	Aug. 27, 2012 License Agreement Terms USD ($)	Aug. 27, 2012 License Agreement Terms USD ($)	May 08, 2014 GMedix USD ($)	Dec. 31, 2014 GMedix USD ($)	Dec. 31, 2013 GMedix USD ($)	May 08, 2014 GMedix	Oct. 04, 2013 Datascope USD ($)	Dec. 31, 2013 Datascope USD ($)	Oct. 04, 2013 Datascope Developed technology	Oct. 04, 2013 Datascope Customer Lists	Oct. 04, 2013 Datascope Trademarks	Oct. 04, 2013 Radial Assist USD ($)	Dec. 31, 2013 Radial Assist USD ($)	Oct. 04, 2013 Radial Assist Developed technology	Oct. 04, 2013 Radial Assist Customer Lists	Oct. 04, 2013 Radial Assist Trademarks	Dec. 31, 2012 Thomas Medical Products, Inc USD ($)	Dec. 19, 2012 Thomas Medical Products, Inc	Dec. 31, 2012 Thomas Medical Products, Inc USD ($)	Dec. 31, 2013 Thomas Medical Products, Inc USD ($)	Dec. 31, 2012 Thomas Medical Products, Inc USD ($)	Dec. 19, 2012 Thomas Medical Products, Inc USD ($)	Dec. 19, 2012 Thomas Medical Products, Inc Developed technology	Dec. 19, 2012 Thomas Medical Products, Inc Customer Lists	Dec. 19, 2012 Thomas Medical Products, Inc Trademarks	Dec. 19, 2012 Thomas Medical Products, Inc Non-compete agreements	Nov. 19, 2012 MediGroup USD ($)	Dec. 31, 2012 MediGroup USD ($)	Nov. 19, 2012 MediGroup USD ($)	Nov. 19, 2012 MediGroup Developed technology	Nov. 19, 2012 MediGroup Customer Lists	Nov. 19, 2012 MediGroup Trademarks	Nov. 19, 2012 MediGroup Non-compete agreements	Jan. 31, 2012 Ostial Solutions, LLC USD ($)	Aug. 31, 2012 Ostial Solutions, LLC USD ($)	Jan. 31, 2012 Ostial Solutions, LLC USD ($)	Dec. 31, 2012 Ostial Solutions, LLC USD ($)	Jan. 31, 2012 Ostial Solutions, LLC Developed technology	Jan. 31, 2012 Ostial Solutions, LLC Customer Lists	Jan. 31, 2012 Ostial Solutions, LLC Trademarks	Jan. 31, 2012 Ostial Solutions, LLC Non-compete agreements
Business Acquisition [Line Items]
Payments to acquire intangible assets		$ 625,000	$ 3,000,000	$ 1,714,000	$ 1,617,000	$ 1,460,000												$ 700,000	$ 250,000					$ 250,000		$ 1,000,000	$ 1,500,000																	$ 750,000
Liabilities incurred in agreement		1,000,000	1,000,000	1,000,000
Contingent consideration, liability							1,500,000	3,000,000																																																																403,000							4,300,000
Useful life														10 years	12 years	10 years	4 years		10 years				3 years	10 years	12 years																			3 years								10 years	6 years	15 years			10 years	6 years	15 years							8 years	12 years	15 years	3 years				8 years	8 years	15 years	7 years					15 years	8 years	15 years	5 years
Intangible assets																													200,000					3,800,000
Payments to acquire investments	752,000								1,000,000																																					1,800,000
Cost method investments, shares acquired													422,594																																				737,628
Cost method investments, ownership percentage										11.90%																																							19.00%
Payments to acquire businesses, net of cash acquired				5,927,000	31,600,000	192,762,000																																									1,450,000	350,000
Accrued liabilities		33,826,000	33,826,000	33,826,000	27,702,000													350,000				250,000
Finite-lived intangible assets, gross																		700,000		8,995,000	3,783,000	250,000						5,376,000		5,176,000							20,452,000	20,626,000		7,298,000	7,622,000	1,029,000	1,029,000
Payments to acquire businesses																																																		27,500,000					2,500,000							167,000,000								4,000,000								6,500,000	10,000,000
Income before tax																																																			1,600,000					191,000								51,000
Weighted average useful life																																				5 years														10 years					10 years 0 months 27 days						8 years 6 months 18 days									8 years 1 month 24 days							14 years 7 months 6 days
Long-term debt issuance costs				0	798,000	3,706,000					798,000	3,700,000
Due date in relation to first commercial sale																			30 days
Liabilities incurred																																																												445,000
Net sales																																																															1,900,000								169,000									457,000
Goodwill, period increase (decrease)																																																															381,000
Acquired receivables																																																																	6,500,000
Estimated uncollectible trade receivables acquired																																																																	34,000
Acquisition-related costs																																																																2,700,000
Contingent consideration, payment, 2013																																																																						150,000
Contingent consideration, payment, 2014																																																																						150,000
Contingent consideration, payment, 2015																																																																						150,000
Contingent consideration, potential payment, 2016																																																																						150,000
Contingent consideration, potential payment, 2017																																																																						150,000
Contingent consideration, potential payment, 2018																																																																						150,000
Contingent consideration, potential payment, 2019																																																																						150,000
Contingent consideration, potential payment, 2020																																																																						150,000
Contingent consideration, potential payment, 2021																																																																						150,000
Contingent consideration, potential payment, 2022																																																																						150,000
Potential payment, annual increase in net sales, minimum percent																																																																						8.00%
Intangible assets purchased																				7,172,000	2,534,000							3,091,000		3,396,000	250,000	2,500,000	79,172,000		91,052,000		7,258,000	9,669,000	95,000	5,219,000	5,778,000	393,000	630,000		750,000
Contingent consideration, potential payment																								250,000																																																					13,500,000
Acquired in-process research and development				$ 0	$ 0	$ 2,450,000

Inventories (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Finished goods	$ 50,000	$ 43,364
Work-in-process	7,680	6,222
Raw materials	34,093	32,792
Total	$ 91,773	$ 82,378

- Definition

Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.

+ References+ Details

Goodwill and Intangible Assets - Goodwill (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Goodwill [Roll Forward]
Goodwill balance at January 1	$ 184,505	$ 175,108
Effect of foreign exchange	(41)	0
Adjustment related to previous acquisitions	0	381
Additions as the result of acquisitions	0	9,016
Goodwill balance at December 31	$ 184,464	$ 184,505

Goodwill and Intangible Assets - Other Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014 Other	Dec. 31, 2013 Other	Dec. 31, 2014 Patents	Dec. 31, 2013 Patents	Dec. 31, 2014 Distribution agreements	Dec. 31, 2013 Distribution agreements	Aug. 21, 2012 Distribution agreements	Jan. 05, 2012 Distribution agreements	Dec. 31, 2014 License agreements and trademarks	Dec. 31, 2013 License agreements and trademarks	Dec. 20, 2013 License agreements and trademarks	Sep. 10, 2013 License agreements and trademarks	Dec. 31, 2014 Trademarks	Dec. 31, 2013 Trademarks	Dec. 31, 2014 Non-compete agreements	Dec. 31, 2013 Non-compete agreements	Dec. 31, 2014 Customer lists	Dec. 31, 2013 Customer lists	Jan. 05, 2012 Customer lists	Dec. 31, 2014 Royalty agreements	Dec. 31, 2013 Royalty agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 53,616	$ 47,805	$ 10,199	$ 9,302	$ 5,376	$ 5,176			$ 8,995	$ 3,783	$ 700	$ 250	$ 7,298	$ 7,622	$ 1,029	$ 1,029	$ 20,452	$ 20,626		$ 267	$ 267
Accumulated Amortization	(22,480)	(18,870)	(2,196)	(2,374)	(2,285)	(1,780)			(1,823)	(1,249)			(2,079)	(1,844)	(636)	(399)	(13,194)	(10,957)		(267)	(267)
Net Carrying Amount	$ 31,136	$ 28,935	$ 8,003	$ 6,928	$ 3,091	$ 3,396	$ 250	$ 2,500	$ 7,172	$ 2,534			$ 5,219	$ 5,778	$ 393	$ 630	$ 7,258	$ 9,669	$ 95	$ 0	$ 0

Goodwill and Intangible Assets - Future Amortization Expense (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$ 14,525
2016	14,381
2017	13,911
2018	13,197
2019	$ 12,916

Goodwill and Intangible Assets - Narrative (Details) (USD $)	12 Months Ended			3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2014 Ostial Solutions, LLC	Sep. 30, 2013 Ostial Solutions, LLC
Finite-Lived Intangible Assets [Line Items]
Accumulated impairment loss	$ 8,300,000
Aggregate amortization expense	14,900,000	14,200,000	7,500,000
Intangible asset impairment charges	1,102,000	8,089,000	0	1,100,000	8,100,000
Contingent consideration benefit				$ 874,000	$ 3,800,000

Income Taxes - Domestic and Foreign (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Domestic									$ 16,961	$ 5,435	$ 15,958
Foreign									14,611	14,404	11,660
INCOME BEFORE INCOME TAXES	$ 14,217	$ 12,076	$ 7,384	$ 6,489	$ 10,916	$ 8,391	$ 6,780	$ 1,757	$ 31,572	$ 19,839	$ 27,618

Income Taxes - Components of Income Tax Expense (Benefit) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current expense (benefit):
Federal									$ 1,316	$ (747)	$ 5,350
State									768	333	1,014
Foreign									2,644	2,324	995
Total current expense									4,728	1,910	7,359
Deferred expense (benefit):
Federal									4,078	1,089	871
State									(119)	278	(343)
Foreign									(89)	(8)	21
Total deferred expense									3,870	1,359	549
Total income tax expense	$ 3,680	$ 2,489	$ 1,366	$ 1,063	$ 1,642	$ 833	$ 1,253	$ (459)	$ 8,598	$ 3,269	$ 7,908

Income Taxes - Effective Income Tax Rate Reconciliation (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Computed federal income tax expense at statutory rate of 35%									$ 11,050	$ 6,943	$ 9,667
State income taxes									438	397	436
Tax credits									(888)	(1,385)	(779)
Production activity deduction									0	0	(388)
Foreign tax rate differential									(1,958)	(2,374)	(1,419)
Uncertain tax positions									(76)	(520)	(42)
Deferred compensation insurance assets									(81)	(358)	(155)
Other — including the effect of graduated rates									113	566	588
Total income tax expense	$ 3,680	$ 2,489	$ 1,366	$ 1,063	$ 1,642	$ 833	$ 1,253	$ (459)	$ 8,598	$ 3,269	$ 7,908

Income Taxes - Deferred Tax Assets and Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred income tax assets:
Allowance for uncollectible accounts receivable	$ 366	$ 342
Accrued compensation expense	5,492	5,001
Inventory differences	2,401	2,317
Net operating loss carryforwards	13,542	18,060
Deferred revenue	87	280
Stock-based compensation expense	2,479	2,704
Uncertain tax positions	284	559
Federal research and development credit carryforward	1,413	569
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	1,374	0
Other	4,173	3,197
Total deferred income tax assets	31,611	33,029
Deferred income tax liabilities:
Prepaid expenses	(708)	(751)
Property and equipment	(23,298)	(21,893)
Intangible assets	(4,853)	(3,837)
Other	(1,150)	(1,295)
Total deferred income tax liabilities	(30,009)	(27,776)
Valuation allowance	(1,603)	(1,363)
Net deferred income tax assets (liabilities)	(1)	3,890
Reported as:
Deferred income tax assets - Current	6,375	5,638
Deferred income tax assets - Long-term	9	800
Deferred income tax liabilities - Long-term	$ (6,385)	$ (2,548)

Income Taxes - Summary of Income Tax Contingencies (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, opening balance	$ 2,129	$ 2,776	$ 3,113
Gross increases in tax positions taken in a prior year	142	107	83
Gross increases in tax positions taken in the current year	309	236	260
Lapse of applicable statute of limitations	(844)	(990)	(680)
Unrecognized tax benefits, ending balance	$ 1,736	$ 2,129	$ 2,776

Income Taxes - Narrative (Details) (USD $)	12 Months Ended
Income Taxes - Narrative (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Valuation Allowance, Deferred Tax Asset, Change in Amount	$ 240,000	$ 138,000	$ 864,000
U.S federal net operating loss carryforwards	38,700,000	52,200,000
Net Operating Loss Carryforwards Utilization	12 years
Net Operating Loss Carryforwards Used In The Current Period	13,500,000	3,800,000
non-U.S. net operating loss carryforwards	53,000	125,000
Unrecognized Tax Benefits Gross Including Interest and Penalties		1,900,000	2,300,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		1,600,000	1,700,000
Gross increases in tax positions taken in the current year	309,000	236,000	260,000
Deferred Tax Asset, Reduction in Valuation Allowance, Noncurrent	563,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	181,000	139,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	42,000	22,000	215,000
Estimated change in unrecognized tax benefit in next twelve months, lower bound	400,000
Estimated change in unrecognized tax benefit in next twelve months, upper bound	$ 800,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%	35.00%

Accrued Expenses (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Payables and Accruals [Abstract]
Payroll taxes	$ 1,931	$ 1,816
Payroll	4,086	3,474
Bonuses	7,301	5,273
Commissions	980	984
Vacation	6,753	6,280
Royalties	1,497	1,221
Value-added tax	1,555	1,469
Other accrued expenses	9,723	7,185
Total	$ 33,826	$ 27,702

Revolving Credit Facility and Long-Term Debt - Narrative (Details) (USD $)	12 Months Ended		0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended										0 Months Ended	12 Months Ended
	Dec. 31, 2014 Credit Agreement quarter	Dec. 31, 2013 Credit Agreement	Dec. 19, 2012 Base Rate Credit Agreement	Dec. 31, 2014 Base Rate Credit Agreement	Dec. 19, 2012 London Interbank Offered Rate (LIBOR) Market Index Rate Credit Agreement	Dec. 31, 2014 London Interbank Offered Rate (LIBOR) Market Index Rate Credit Agreement	Dec. 19, 2012 London Interbank Offered Rate (LIBOR) Credit Agreement	Dec. 31, 2014 London Interbank Offered Rate (LIBOR) Credit Agreement	Dec. 31, 2014 Federal Funds Rate Credit Agreement	Dec. 31, 2014 Variable Rate 1 Credit Agreement	Dec. 31, 2013 Variable Rate 1 Credit Agreement	Dec. 31, 2014 Variable Rate 2 Credit Agreement	Dec. 31, 2013 Variable Rate 2 Credit Agreement	Oct. 04, 2013 Revolving Credit Facility Credit Agreement	Sep. 30, 2010 Revolving Credit Facility Wells Fargo	Dec. 19, 2012 Term Loan Credit Agreement	Dec. 31, 2014 Bridge Loan Base Rate Credit Agreement	Dec. 19, 2012 Bridge Loan London Interbank Offered Rate (LIBOR) Market Index Rate Credit Agreement	Dec. 31, 2014 Bridge Loan London Interbank Offered Rate (LIBOR) Market Index Rate Credit Agreement
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity														$ 215,000,000	$ 175,000,000	$ 100,000,000
Debt Instrument, Basis Spread on Variable Rate			1.00%	0.25%	2.00%	1.25%	2.00%	1.25%										2.00%	1.25%
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Minimum				2.25		2.25		2.25									2.25
Debt Instrument, Basis Spread on Base Rate								0.01	0.0050
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Current Quarter, Maximum	4.75
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter One, Maximum	4.00
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter Two, Maximum	3.75
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter Three, Maximum	3.50
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter Four, Maximum	3.25
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Year Two, Maximum	3
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Year Three, Maximum	2.75
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Year Four, Maximum	2.5
Line of Credit Facility, Covenant Terms, Consolidated EBITDA to Fixed Charges Ratio, Number of Consecutive Quarters	4
Line of Credit Facility, Covenant Terms, Consolidated EBITDA to Fixed Charges Ratio, Minimum	1.75
Line of Credit Facility, Covenant Terms, Consolidated Net Income, Maximum	0
Line of Credit Facility, Covenant Terms, Facility Capital Expenditures, Next Twelve Months, Maximum	30,000,000
Line of Credit Facility, Amount Outstanding	224,500,000
Line of Credit Facility, Remaining Borrowing Capacity	27,500,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	2.9825%	4.2325%
Long-term Debt, Percentage Bearing Fixed Interest, Amount	140,000,000	145,000,000
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate										2.17%	3.42%	2.26%	3.50%
Long-term Debt, Percentage Bearing Variable Interest, Amount										$ 84,300,000	$ 101,500,000	$ 174,000	$ 2,400,000

Revolving Credit Facility and Long-Term Debt - Principal Balances under Long-term Debt (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]
Total long-term debt	$ 224,490	$ 248,854
Less current portion	10,000	10,000
Long-term portion	214,490	238,854
Term Loan
Line of Credit Facility [Line Items]
Total long-term debt	82,500	92,500
Revolving Credit Facility
Line of Credit Facility [Line Items]
Total long-term debt	$ 141,990	$ 156,354

- Definition

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

Revolving Credit Facility and Long-Term Debt - Future Minimum Payments on Long-term Debt (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
2015	$ 10,000
2016	10,000
2017	204,490
Total long-term debt	$ 224,490	$ 248,854

- Definition

+ References+ Details

Derivatives - Interest Rate Swap (Details) (USD $)	12 Months Ended
Derivatives - Interest Rate Swap (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 19, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives			$ 150,000,000
Derivative, Fixed Interest Rate			0.9825%
Quarterly reduction of notional amount	50.00%
Interest rate asset	573,000	1,200,000
Accumulated other comprehensive income (loss), interest rate swap, tax benefit	$ 223,000	$ 468,000

Derivatives - Foreign Currency Forward Contracts (Details) In Thousands, unless otherwise specified	12 Months Ended			0 Months Ended			0 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Nov. 29, 2013 30 Day Forward Contract EURO EUR (€)	Nov. 30, 2012 30 Day Forward Contract EURO	Nov. 28, 2014 30 Day Forward Contract EURO EUR (€)	Nov. 29, 2013 30 Day Forward Contract GBP GBP (£)	Nov. 30, 2012 30 Day Forward Contract GBP	Nov. 28, 2014 30 Day Forward Contract GBP GBP (£)
Derivatives, Fair Value [Line Items]
Forward Contract Term				30 days	30 days		30 days	30 days
Derivative, Notional Amount				€ 494		€ 899	£ 847		£ 572
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 36	$ (202)	$ (11)

Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
2015	$ 8,870
2016	8,465
2017	7,438
2018	7,030
2019	7,038
Thereafter	42,626
Total minimum lease payments	$ 81,467

Commitments and Contingencies (Details) (USD $)	3 Months Ended	12 Months Ended
Commitments and Contingencies (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other Commitments [Line Items]
Operating Leases, Rent Expense		$ 8,100,000	$ 5,500,000	$ 4,800,000
Proceeds from sale-leaseback transactions	24,000,000	5,521,000	24,000,000	0
Lessee Leasing Arrangements, Operating Leases, Term of Contract	19 years 10 months	7 years
Irish Grants Related to Research and Development, Training and Hiring		0	1,200,000	424,000
Deferred Credits and Other Liabilities	3,100,000	2,900,000	3,100,000
Irish Grants Related to Purchased Property Plant and Equipment		175,000	139,000	174,000
Refundable Irish Grants if Operations Cease		$ 4,400,000
Remaining grant liability period		4 years
Minimum
Other Commitments [Line Items]
Grant liability period		5 years
Maximum
Other Commitments [Line Items]
Grant liability period		8 years

Earnings Per Common Share (EPS) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share, Basic and Diluted [Abstract]
Net Income, Basic EPS									$ 22,974	$ 16,570	$ 19,710
Shares, Basic EPS									43,143	42,607	42,176
Basic (in dollars per share)	$ 0.20	$ 0.18	$ 0.09	$ 0.07	$ 0.15	$ 0.13	$ 0.09	$ 0.02	$ 0.53	$ 0.39	$ 0.47
Effect of dilutive stock options and warrants									266	277	434
Net Income, Diluted EPS									$ 22,974	$ 16,570	$ 19,710
Shares, Diluted EPS									43,409	42,884	42,610
Diluted (in dollars per share)	$ 0.20	$ 0.18	$ 0.09	$ 0.07	$ 0.15	$ 0.13	$ 0.09	$ 0.02	$ 0.53	$ 0.39	$ 0.46
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount									1,292	1,823	1,588

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

Employee Stock Purchase Plan Stock Options and Warrants - Long Term Incentive Plans (Details) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	447
Employee Stock Purchase Plan Qualified
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	205
Share Based Compensation Arrangement Employee Stock Purchase Plan Percentage of Market Price Purchase Date	95.00%
Employee Stock Purchase Plan Non Qualified
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	51
Stock Options \| 2006 Incentive Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock Option Contractual Life	7 years
Stock Options \| 2006 Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Stock Option Contractual Life	10 years
Performance Shares \| 2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year

Employee Stock Purchase Plan Stock Options and Warrants - Allocation of Recognized Period Costs (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 1,460,000	$ 1,467,000	$ 1,917,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	4,900,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	3 years 6 months 20 days
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	198,000	145,000	245,000
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	69,000	87,000	119,000
Selling, general, and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 1,193,000	$ 1,235,000	$ 1,553,000

Employee Stock Purchase Plan Stock Options and Warrants - Fair Value Calculation Assumptions (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	1.53%	0.65%	0.54%
Risk-free interest rate, maximum	1.97%	1.16%	0.95%
Expected dividend yield	0.00%	0.00%	0.00%
Expected price volatility, minimum	34.52%	34.08%	42.01%
Expected price volatility, maximum	36.90%	41.67%	44.56%
Stock-based compensation grants	666	348	128
Stock-based compensation grants, total fair value	$ 2,800	$ 1,400	$ 677
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life	5 years 0 months 0 days	4 years 2 months 12 days	4 years 2 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life	5 years 6 months	6 years	6 years

Employee Stock Purchase Plan Stock Options and Warrants - Stock Option Activity (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of stock options exercised	$ 3,505	$ 1,649	$ 3,472
Cash received from stock option exercises	7,697	3,281	3,325
Excess tax benefit from the exercise of stock options	576	259	877
Number of Shares
Beginning balance (in shares)	3,008
Granted (in shares)	666
Exercised (in shares)	(878)
Forfeited/expired (in shares)	(5)
Outstanding at December 31 (in shares)	2,791	3,008
Exercisable (in shares)	1,475
Ending vested and expected to vest (in shares)	2,710
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 12.60	$ 12.14
Granted (in dollars per share)	$ 12.59
Exercised (in shares)	$ 11.03
Forfeited/expired (in shares)	$ 13.52
Outstanding at December 31 (in dollars per share)	$ 12.60	$ 12.14
Exercisable (in dollars per share)	$ 12.44
Ending vested and expected to vest (in dollars per share)	$ 12.60
Outstanding, Remaining Contractual Term	3 years 7 months 25 days
Outstanding, Intrinsic Value	13,210
Exercisable, Remaining Contractual Term	3 years 6 months 31 days
Exercisable, Intrinsic Value	7,209
Ending vested and expected to vest, Remaining Contractual Term	1 year 11 months 5 days
Ending vested and expected to vest, Intrinsic Value	$ 12,833
Weighted average grant-date fair value of options granted	$ 4.27	$ 5.31	$ 5.28

Employee Stock Purchase Plan Stock Options and Warrants - Options Outstanding (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise	$ 9.71
Range of Exercise	$ 16.41
Number Outstanding	2,791
Number Exercisable	1,475
$9.71 - $11.53
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise	$ 9.71
Range of Exercise	$ 11.53
Number Outstanding	778
Weighted Average Remaining Contractual Life (in years)	1 year 3 months 25 days
Weighted Average Exercise Price	$ 10.80
Number Exercisable	678
Weighted Average Exercise Price	$ 10.93
$12.06 - $13.14
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise	$ 12.06
Range of Exercise	$ 13.14
Number Outstanding	779
Weighted Average Remaining Contractual Life (in years)	6 years 2 months 15 days
Weighted Average Exercise Price	$ 12.40
Number Exercisable	67
Weighted Average Exercise Price	$ 13.02
$13.16 - $13.16
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise	$ 13.16
Range of Exercise	$ 13.16
Number Outstanding	85
Weighted Average Remaining Contractual Life (in years)	2 years 5 months 22 days
Weighted Average Exercise Price	$ 13.16
Number Exercisable	70
Weighted Average Exercise Price	$ 13.16
$13.75 - $16.41
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise	$ 13.75
Range of Exercise	$ 16.41
Number Outstanding	1,149
Weighted Average Remaining Contractual Life (in years)	3 years 6 months 30 days
Weighted Average Exercise Price	$ 13.90
Number Exercisable	660
Weighted Average Exercise Price	$ 13.86

Segment Reporting and Foreign Operations - Sales by Business Segment (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenue from External Customer [Line Items]
Revenues	$ 132,780	$ 128,808	$ 128,865	$ 119,236	$ 120,016	$ 115,210	$ 109,875	$ 103,948	$ 509,689	$ 449,049	$ 394,288
% Change	14.00%				14.00%				14.00%	14.00%	10.00%
Cardiovascular Segment
Revenue from External Customer [Line Items]
Revenues									491,706	432,124	378,493
% Change	14.00%				14.00%				14.00%	14.00%	9.00%
Cardiovascular Segment \| Stand Alone Devices
Revenue from External Customer [Line Items]
Revenues									143,712	125,445	114,242
% Change	15.00%				10.00%				15.00%	10.00%	12.00%
Cardiovascular Segment \| Custom Kit And Procedures Trays
Revenue from External Customer [Line Items]
Revenues									111,076	103,700	94,586
% Change	7.00%				10.00%				7.00%	10.00%	3.00%
Cardiovascular Segment \| Inflation Devices
Revenue from External Customer [Line Items]
Revenues									72,538	66,182	68,979
% Change	10.00%				(4.00%)				10.00%	(4.00%)	2.00%
Cardiovascular Segment \| Catheters
Revenue from External Customer [Line Items]
Revenues									87,550	75,131	64,878
% Change	17.00%				16.00%				17.00%	16.00%	17.00%
Cardiovascular Segment \| Embolization Devices
Revenue from External Customer [Line Items]
Revenues									43,855	33,395	33,870
% Change	31.00%				(1.00%)				31.00%	(1.00%)	8.00%
Cardiovascular Segment \| Electrophysiology
Revenue from External Customer [Line Items]
Revenues									32,975	28,271	1,938
% Change	17.00%				1359.00%				17.00%	1359.00%	0.00%
Endoscopy Segment
Revenue from External Customer [Line Items]
Revenues									17,983	16,925	15,795
Endoscopy Segment \| Endoscopy Devices
Revenue from External Customer [Line Items]
Revenues									$ 17,983	$ 16,925	$ 15,795
% Change	6.00%				7.00%				6.00%	7.00%	31.00%

Segment Reporting and Foreign Operations - Foreign Sales (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Foreign Sales Percent of Total Sales	39.00%	37.00%	37.00%
Foreign Sales
Segment Reporting Information [Line Items]
Revenue, Net	$ 198.3	$ 165.8	$ 146.3

Segment Reporting and Foreign Operations - Operating Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Revenues	$ 132,780	$ 128,808	$ 128,865	$ 119,236	$ 120,016	$ 115,210	$ 109,875	$ 103,948	$ 509,689	$ 449,049	$ 394,288
Operating expenses									185,056	166,523	152,351
Operating income (loss)									40,166	27,844	29,641
Total other expense - net									(8,594)	(8,005)	(2,023)
Income tax expense	3,680	2,489	1,366	1,063	1,642	833	1,253	(459)	8,598	3,269	7,908
NET INCOME									22,974	16,570	19,710
Cardiovascular Segment
Segment Reporting Information [Line Items]
Revenues									491,706	432,124	378,493
Operating expenses									175,152	157,479	142,089
Operating income (loss)									38,601	26,597	30,411
Endoscopy Segment
Segment Reporting Information [Line Items]
Revenues									17,983	16,925	15,795
Operating expenses									9,904	9,044	10,262
Operating income (loss)									$ 1,565	$ 1,247	$ (770)

Segment Reporting and Foreign Operations - Assets (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 747,165	$ 728,283	$ 705,309
Depreciation and amortization	35,929	32,542	22,534
Capital expenditures	34,181	59,505	64,643
Cardiovascular Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	734,940	716,659	692,689
Depreciation and amortization	34,975	31,594	21,441
Capital expenditures	33,660	59,421	64,059
Endoscopy Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	12,225	11,624	12,620
Depreciation and amortization	954	948	1,093
Capital expenditures	$ 521	$ 84	$ 584

Royalty Agreements (Details) (BioSphere APHP Royalty, USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
BioSphere APHP Royalty
Royalty Agreements [Line Items]
Current Royalty Rate	5.00%
Future Royalty Rate	2.50%
Royalty Expense	$ 1.5	$ 1.3	$ 1.4

Employee Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Minimum Years Of Age	18 years
Minimum Service Requirement	90 days
Defined Contribution Plan, Cost Recognized	$ 1,800	$ 429	$ 1,500
Defined Contribution Plan Percentage Minimum Foreign Employees	2.00%
Defined Contribution Plan Percentage Maximum Foreign Employees	32.00%
Defined Contribution Plan Percentage Minimum Foreign Management	2.00%
Defined Contribution Plan Foreign, Cost Recognized	$ 912	$ 748	$ 724

Quarterly Results of Operations (Unaudited) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 132,780	$ 128,808	$ 128,865	$ 119,236	$ 120,016	$ 115,210	$ 109,875	$ 103,948	$ 509,689	$ 449,049	$ 394,288
Gross profit	60,134	57,421	55,624	52,043	53,359	51,030	46,985	42,993	225,222	194,367	181,992
Income from operations	14,217	12,076	7,384	6,489	10,916	8,391	6,780	1,757	31,572	19,839	27,618
Income tax expense	3,680	2,489	1,366	1,063	1,642	833	1,253	(459)	8,598	3,269	7,908
Net income	$ 8,671	$ 7,764	$ 3,716	$ 2,823	$ 6,540	$ 5,607	$ 3,752	$ 671
Basic (in dollars per share)	$ 0.20	$ 0.18	$ 0.09	$ 0.07	$ 0.15	$ 0.13	$ 0.09	$ 0.02	$ 0.53	$ 0.39	$ 0.47
Diluted (in dollars per share)	$ 0.20	$ 0.18	$ 0.09	$ 0.07	$ 0.15	$ 0.13	$ 0.09	$ 0.02	$ 0.53	$ 0.39	$ 0.46

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

- Definition

+ References+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Fair Value Measurements - Financial Assets and (Liabilities) Carried at Fair Value (Details) (USD $)
In Thousands, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swap

$ 573

$ 1,200

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swap

^[1]

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swap

573

^[1]

1,203

^[1]

Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swap

^[1]

Estimate of Fair Value, Fair Value Disclosure | Fair Value, Measurements, Recurring

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate swap

$ 573

^[1]

$ 1,203

^[1]

[1]	The fair value of the interest rate swap is determined based on forward yield curves.

Fair Value Measurements - Liability Measured on Recurring Basis, Unobservable Input Reconciliation (Details) (Contingent Consideration, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 2,526	$ 6,697
Fair value adjustments recorded to income during the period	(572)	(4,094)
Contingent payments made	(68)	(77)
Ending balance	$ 1,886	$ 2,526

Fair Value Measurements - Fair Value Inputs, Liabilities, Quantitative Information (Details) (Contingent Consideration, USD $) In Thousands, unless otherwise specified						12 Months Ended								12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Revenue-based Payments	Dec. 31, 2013 Revenue-based Payments	Dec. 31, 2014 Revenue-based Payments Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2013 Revenue-based Payments Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2014 Revenue-based Payments Minimum Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2013 Revenue-based Payments Minimum Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2014 Revenue-based Payments Maximum Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2013 Revenue-based Payments Maximum Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2014 Other Payments	Dec. 31, 2013 Other Payments	Dec. 31, 2014 Other Payments Income Approach Valuation Technique Fair Value, Inputs, Level 3	Dec. 31, 2013 Other Payments Income Approach Valuation Technique Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Discount rate								1.00%	11.00%	14.00%	15.00%			5.00%	5.40%
Contingent consideration liability	$ 1,886	$ 2,526	$ 6,697	$ 1,610	$ 2,282							$ 276	$ 244
Probability of milestone payment						90.00%	90.00%							100.00%	100.00%

Fair Value Measurements - Narrative (Details) (USD $)	3 Months Ended	12 Months Ended
Fair Value Measurements - Narrative (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Other Long-term Obligations	Dec. 31, 2013 Other Long-term Obligations	Dec. 31, 2014 Accrued Liabilities	Dec. 31, 2013 Accrued Liabilities	Sep. 30, 2013 Ostial Solutions, LLC Developed technology
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability					$ 803,000	$ 2,300,000
Contingent consideration liability							1,100,000	274,000
Other Asset Impairment Charges		1,400,000	8,200,000	55,000
Goodwill impairment charge		1,100,000
Finite-lived Intangible Assets, Fair Value Disclosure									447,000
Impairment of cost-method investment	$ 2,368,000	$ 0	$ 0	$ 2,368,000

Schedule II - Valuation and qualifying accounts (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Allowance for Doubtful Accounts [Member]

Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at Beginning of Year

$ (840)

$ (892)

$ (464)

Additions Charged to Costs and Expenses

(83)

^[1]

(376)

^[1]

(545)

^[1]

Deduction

^[2]

428

^[2]

117

^[2]

Balance at End of Year

(893)

(840)

(892)

Valuation Allowance of Deferred Tax Assets [Member]

Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at Beginning of Year

(1,363)

(1,225)

(361)

Additions Charged to Costs and Expenses

(240)

^[3]

(138)

^[3]

(864)

^[3]

Deduction

Balance at End of Year

$ (1,603)

$ (1,363)

$ (1,225)

[1]	We record a bad debt provision based upon historical experience and a review of individual customer balances.
[2]	When an individual customer balance becomes impaired and is deemed uncollectible, a deduction is made against the allowance for uncollectible accounts.
[3]	We record a valuation allowance against a deferred tax asset when it is determined that it is more likely than not that the deferred tax asset will not be realized.

Organization and Summary of Significant Accounting Policies - Organization (Details)	12 Months Ended
	Dec. 31, 2014 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Organization and Summary of Significant Accounting Policies - Other Assets (Details)	Dec. 31, 2014 investment
Accounting Policies [Abstract]
Other Assets, Deferred Compensation Plan, Number of Investments, Cost Method	2

Segment Reporting and Foreign Operations - Narrative (Details)	12 Months Ended
	Dec. 31, 2014 segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Reporting and Foreign Operations - Long-lived Assets by Geographic Area (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 244,171	$ 243,270	$ 234,803
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	177,627	178,130	176,644
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	49,708	50,274	48,182
Other Foreign Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 16,836	$ 14,866	$ 9,977