Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2016	Feb. 24, 2017	Jun. 30, 2016
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	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		44,651,196
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 844,073,573

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 19,171	$ 4,177
Trade receivables — net of allowance for uncollectible accounts — 2016 — $1,587 and 2015 — $1,297	80,521	70,292
Employee receivables	198	217
Other receivables	5,445	6,799
Inventories	120,695	105,999
Prepaid expenses and other assets	6,226	5,634
Prepaid income taxes	2,525	2,955
Deferred income tax assets	8,219	7,025
Income tax refund receivables	423	905
Total current assets	243,423	204,003
PROPERTY AND EQUIPMENT:
Land and land improvements	19,379	19,307
Buildings	139,119	136,595
Manufacturing equipment	178,110	158,775
Furniture and fixtures	43,433	39,301
Leasehold improvements	30,413	27,561
Construction-in-progress	28,180	26,292
Total property and equipment	438,634	407,831
Less accumulated depreciation	(162,061)	(140,053)
Property and equipment — net	276,573	267,778
OTHER ASSETS:
Goodwill	211,927	184,472
Deferred income tax assets	171	0
Other assets	28,012	13,121
Total other assets	422,807	306,947
TOTAL	942,803	778,728
CURRENT LIABILITIES:
Trade payables	30,619	37,977
Accrued expenses	44,947	37,846
Current portion of long-term debt	10,000	10,000
Advances from employees	572	589
Income taxes payable	2,193	1,498
Total current liabilities	88,331	87,910
LONG-TERM DEBT	314,373	197,593
DEFERRED INCOME TAX LIABILITIES	25,981	10,985
LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS	438	768
DEFERRED COMPENSATION PAYABLE	9,211	8,500
DEFERRED CREDITS	2,550	2,721
OTHER LONG-TERM OBLIGATIONS	3,730	4,148
Total liabilities	444,614	312,625
COMMITMENTS AND CONTINGENCIES (Notes 2, 7, 8, 9 and 13)
STOCKHOLDERS’ EQUITY:
Preferred stock — 5,000 shares authorized as of December 31, 2016 and 2015; no shares issued
Common stock, no par value; shares authorized — 2016 and 2015 - 100,000; issued and outstanding as of December 31, 2016 - 44,645 and December 31, 2015 - 44,267	206,186	197,826
Retained earnings	293,885	273,764
Accumulated other comprehensive loss	(1,882)	(5,487)
Total stockholders’ equity	498,189	466,103
TOTAL	942,803	778,728
Developed technology — net of accumulated amortization — 2016 — $52,694 and 2015 — $38,497
OTHER ASSETS:
Intangible Assets	135,358	69,861
Other — net of accumulated amortization — 2016 — $30,048 and 2015 — $26,603
OTHER ASSETS:
Intangible Assets	$ 47,339	$ 39,493

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Trade receivables, allowances	$ 1,587	$ 1,297
STOCKHOLDERS’ EQUITY:
Preferred stock shares authorized (in shares)	5,000,000	5,000,000
Preferred stock shares issued (in shares)	0	0
Common stock par value (in USD per share)
Common stock shares authorized (in shares)	100,000,000	100,000,000
Common stock shares issued (in shares)	44,645,000	44,267,000
Common stock shares outstanding (in shares)	44,645,000	44,267,000
Developed technology
OTHER ASSETS:
Intangibles, accumulated amortization	$ 52,843	$ 38,497
Other
OTHER ASSETS:
Intangibles, accumulated amortization	$ 30,048	$ 26,603

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
NET SALES	$ 603,838	$ 542,149	$ 509,689
COST OF SALES	338,813	306,368	284,467
GROSS PROFIT	265,025	235,781	225,222
OPERATING EXPENSES:
Selling, general and administrative	184,398	156,348	147,894
Research and development	45,229	40,810	36,632
Intangible asset impairment charges	0	0	1,102
Contingent consideration expense (benefit)	61	80	(572)
Acquired in-process research and development	461	1,000	0
Total operating expenses	230,149	198,238	185,056
INCOME FROM OPERATIONS	34,876	37,543	40,166
OTHER INCOME (EXPENSE):
Interest income	81	272	217
Interest expense	(8,798)	(6,229)	(8,829)
Other income (expense) — net	(773)	(386)	18
Other expense — net	(9,490)	(6,343)	(8,594)
INCOME BEFORE INCOME TAXES	25,386	31,200	31,572
INCOME TAX EXPENSE	5,265	7,398	8,598
NET INCOME	$ 20,121	$ 23,802	$ 22,974
EARNINGS PER COMMON SHARE:
Basic (in dollars per share)	$ 0.45	$ 0.54	$ 0.53
Diluted (in dollars per share)	$ 0.45	$ 0.53	$ 0.53
AVERAGE COMMON SHARES:
Basic (in shares)	44,408	44,036	43,143
Diluted (in shares)	44,862	44,511	43,409

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 20,121	$ 23,802	$ 22,974
Other comprehensive income (loss):
Cash Flow Hedges	4,784	(571)	(630)
Less income tax benefit (expense)	(1,861)	222	245
Foreign currency translation adjustment	878	(3,037)	(3,160)
Less income tax benefit (expense)	(196)	311	190
Total other comprehensive income (loss)	3,605	(3,075)	(3,355)
Total comprehensive income	$ 23,726	$ 20,727	$ 19,619

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2013	$ 405,706	$ 177,775	$ 226,988	$ 943
Beginning balance (in shares) at Dec. 31, 2013		42,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,974		22,974
Other comprehensive income (loss)	(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 (in shares)		878
Issuance of common stock under Employee Stock Purchase Plans	450	$ 450
Issuance of common stock under Employee Stock Purchase Plans (in shares)		33
Shares surrendered in exchange for payment of payroll tax liabilities	(249)	$ (249)
Shares surrendered in exchange for payment of payroll tax liabilities (in 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 (in shares)		(127)
Ending balance at Dec. 31, 2014	435,259	$ 187,709	249,962	(2,412)
Ending balance (in shares) at Dec. 31, 2014		43,614
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,802		23,802
Other comprehensive income (loss)	(3,075)			(3,075)
Excess tax benefits from stock-based compensation	2,124	$ 2,124
Stock-based compensation expense	2,243	2,243
Options exercised	10,029	$ 10,029
Options exercised (in shares)		858
Issuance of common stock under Employee Stock Purchase Plans	441	$ 441
Issuance of common stock under Employee Stock Purchase Plans (in shares)		23
Shares surrendered in exchange for payment of payroll tax liabilities	(918)	$ (918)
Shares surrendered in exchange for payment of payroll tax liabilities (in shares)		(43)
Shares surrendered in exchange for the exercise of stock options	(3,802)	$ (3,802)
Shares surrendered in exchange for the exercise of stock options (in shares)		(185)
Ending balance at Dec. 31, 2015	$ 466,103	$ 197,826	273,764	(5,487)
Ending balance (in shares) at Dec. 31, 2015	44,267	44,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 20,121		20,121
Other comprehensive income (loss)	3,605			3,605
Excess tax benefits from stock-based compensation	669	$ 669
Stock-based compensation expense	2,506	2,506
Options exercised	$ 4,923	$ 4,923
Options exercised (in shares)	362	362
Issuance of common stock under Employee Stock Purchase Plans	$ 694	$ 694
Issuance of common stock under Employee Stock Purchase Plans (in shares)		34
Shares surrendered in exchange for payment of payroll tax liabilities	(86)	$ (86)
Shares surrendered in exchange for payment of payroll tax liabilities (in shares)		(4)
Shares surrendered in exchange for the exercise of stock options	(346)	$ (346)
Shares surrendered in exchange for the exercise of stock options (in shares)		(14)
Ending balance at Dec. 31, 2016	$ 498,189	$ 206,186	$ 293,885	$ (1,882)
Ending balance (in shares) at Dec. 31, 2016	44,645	44,645

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 20,121	$ 23,802	$ 22,974
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	43,755	37,425	35,929
Losses (gains) on sales and/or abandonment of property and equipment	530	(23)	916
Write-off of patents and intangible assets	101	141	1,427
Acquired in-process research and development	461	1,000	0
Amortization of deferred credits	(170)	(171)	(175)
Amortization of long-term debt issuance costs	952	987	987
Deferred income taxes	(962)	3,450	3,870
Excess tax benefits from stock-based compensation	(669)	(2,124)	(576)
Stock-based compensation expense	2,506	2,243	1,460
Changes in operating assets and liabilities, net of effects from acquisitions:
Trade receivables	(6,816)	(5,872)	(13,599)
Employee receivables	15	(52)	46
Other receivables	1,146	387	(3,042)
Inventories	(3,656)	(13,113)	(9,396)
Prepaid expenses	271	(696)	(58)
Prepaid income taxes	404	(1,788)	(41)
Income tax refund receivables	406	(784)	11
Other assets	(3,763)	(362)	(1,388)
Trade payables	(6,835)	14,766	5,326
Accrued expenses	3,245	5,656	6,137
Advances from employees	(3)	217	142
Income taxes payable	1,451	2,199	1,083
Liabilities related to unrecognized tax benefits	597	536	(76)
Deferred compensation payable	712	(135)	802
Other long-term obligations	(200)	1,769	566
Total adjustments	33,478	45,656	30,351
Net cash provided by operating activities	53,599	69,458	53,325
Capital expenditures for:
Property and equipment	(32,837)	(50,959)	(34,181)
Intangible assets	(2,217)	(1,956)	(1,714)
Proceeds from sale-leaseback transactions	0	2,017	5,521
Proceeds from Sale of Other Assets, Investing Activities	1,089	0	0
Proceeds from the sale of property and equipment	19	1,247	98
Cash paid in acquisitions, net of cash acquired	(125,161)	(12,368)	(5,927)
Net cash used in investing activities	(159,107)	(62,019)	(36,203)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	5,271	6,668	8,146
Proceeds from issuance of long-term debt	219,505	152,375	144,018
Payments on long-term debt	(102,098)	(169,272)	(169,392)
Excess tax benefits from stock-based compensation	669	2,124	576
Long-term debt issuance costs	(1,948)	0	0
Contingent payments related to acquisitions	(218)	(1,212)	(67)
Payment of taxes related to an exchange of common stock	(86)	(918)	(249)
Net cash provided by (used in) financing activities	121,095	(10,235)	(16,968)
EFFECT OF EXCHANGE RATES ON CASH	(593)	(382)	(258)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	14,994	(3,178)	(104)
CASH AND CASH EQUIVALENTS:
Beginning of year	4,177	7,355	7,459
End of year	19,171	4,177	7,355
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest (net of capitalized interest of $460, $325 and $389, respectively)	8,872	6,273	9,014
Income taxes	2,318	3,409	3,289
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Property and equipment purchases in accounts payable	2,398	3,199	2,896
Receivable due for sale of equipment	0	0	1,256
Cost method investment converted to intangible asset in acquisition in lieu of additional cash payment	0	1,010	0
Contingent receivable in exchange for sale of cost method investment	711	0	0
Acquisition purchases in accrued expenses and other long-term obligations	0	1,300	1,000
Merit common stock surrendered (14, 185 and 127 shares, respectively) in exchange for exercise of stock options	$ 346	$ 3,802	$ 1,941

Organization and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

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 medical device products which assist in diagnosing and treating coronary artery disease, peripheral vascular disease and other non-vascular diseases and includes embolotherapeutic, cardiac rhythm management, electrophysiology, and interventional oncology and spine devices. Our endoscopy segment consists of gastroenterology and pulmonology 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, Mexico, The Netherlands, Ireland, France and Brazil. We export sales to dealers and have direct sales forces in the United States, Canada, Western Europe, Australia, Brazil, Russia, 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 for impairment on an annual basis as of July 1 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 guideline public company market-based approach and a discounted cash flow income-based approach. 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	5	-	14 years
Developed technology	8	-	15 years
Distribution agreements	3	-	12 years
License agreements and trademarks	4	-	15 years
Covenants not to compete	7	-	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, 2016, 2015 and 2014, 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, 2016, 2015 and 2014 was approximately $24.5 million, $22.6 million, and $21.0 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 $9.9 million and $8.8 million at December 31, 2016 and 2015, respectively, which is included in other assets in our consolidated balance sheets. We have recorded a deferred compensation payable of approximately $9.2 million and $8.5 million at December 31, 2016 and 2015, 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, 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. and 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, 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, 2016, 2015 and 2014. 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 in 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, 2016, 2015 and 2014 was approximately $2.5 million, $2.2 million and $1.5 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 accounted for approximately 3% of net sales for each of the years ended December 31, 2016, 2015 and 2014.

Foreign Currency. The financial statements of our foreign subsidiaries are measured using local currencies as the functional currency, with the exception of our subsidiaries in Ireland and Mexico, which each use 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 interest rate swaps to hedge changes in the benchmark interest rate related to our Second Amended 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, 2016, accumulated other comprehensive income (loss) included approximately $2.9 million (net of tax of $(1.9) million) related to cash flow hedges and ($4.8) million (net of tax of $318,000) related to foreign currency translation. As of December 31, 2015, accumulated other comprehensive income (loss) included approximately $1,000 (net of tax of $(1,000)) related to an interest rate swap and ($5.5) million (net of tax of $513,000) related to foreign currency translation.

Recently Issued Financial Accounting Standards. In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under these amendments, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for annual or interim goodwill impairment testing performed after January 1, 2017. We plan to early adopt ASU 2017-01 effective January 1, 2017.

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which provides guidance to entities to assist with evaluating when a set of transferred assets and activities is a business and provides a screen to determine when a set is not a business. Under the new guidance, when substantially all of the fair value of gross assets acquired (or disposed of) is concentrated in a single identifiable asset, or group of similar assets, the assets acquired would not represent a business. Also, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to produce outputs. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and should be applied on a prospective basis to any transactions occurring within the period of adoption. Early adoption is permitted for interim or annual periods in which the financial statements have not been issued. We plan to early adopt ASU 2017-01 effective January 1, 2017.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory, which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. ASU 2016-16 will be effective for us on January 1, 2018. We are currently evaluating the impact of adopting ASU 2016-16 on our consolidated financial statements.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us on January 1, 2018 with early adoption permitted. We do not presently anticipate that the adoption of ASU 2016-15 will have a material impact on our consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which requires companies to record excess tax benefits and deficiencies in income rather than the current requirement to record them through equity. ASU 2016-09 also allows companies the option to recognize forfeitures of share-based awards when they occur rather than the current requirement to make an estimate upon the grant of the awards. ASU 2016-09 will be effective for us on January 1, 2017. Early adoption of ASU 2016-09 will be permitted in any interim or annual period, with any adjustments reflected as of the beginning of the fiscal year of adoption. We do not anticipate that the adoption of ASU 2016-09 will have a material impact on our financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases, which eliminates the current tests for lease classification under U.S. GAAP and requires lessees to recognize the right-of-use assets and related lease liabilities on the balance sheet for all leases greater than one year in duration. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. ASU 2016-02 provides that lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. We are assessing the impact that ASU 2016-02 is anticipated to have on our consolidated financial statements. We currently expect that most of our operating lease commitments will be subject to the new standard and recognized as lease liabilities and right-of-use assets upon our adoption of ASU 2016-02.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, which amends the guidance regarding the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, ASU 2016-01 clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. ASU 2016-01 will be effective for us on January 1, 2018. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. Upon adoption of ASU 2016-01, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. We do not presently anticipate that the adoption of ASU 2016-01 will have a material impact on our financial statements.

In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, which will require all deferred tax assets and deferred tax liabilities to be presented as noncurrent within a classified balance sheet. ASU 2015-17 will be effective for us as of January 1, 2017, with early application permitted. ASU 2015-17 may be applied either prospectively to all deferred tax assets and liabilities or retrospectively to all periods presented. We have elected not to early adopt ASU 2015-17. We do not anticipate that the adoption of ASU 2015-17 will have a material impact on our financial statements.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out or the retail inventory method are excluded from the scope of ASU 2015-11 which is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. We do not anticipate that the implementation of ASU 2015-11 will have a material impact on our consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), to update the financial reporting requirements for revenue recognition. Topic 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of 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 guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. This guidance is effective for us beginning on January 1, 2018, and entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. We have not yet reached a final conclusion on whether we will adopt this new standard on a prospective or retrospective basis.

We are concluding the assessment phase of implementing this guidance. We have evaluated each of the five steps in Topic 606, which are as follows: 1) Identify the contract with the customer; 2) Identify the performance obligations in the contract; 3) Determine the transaction price; 4) Allocate the transaction price to the performance obligations; and 5) Recognize revenue when (or as) performance obligations are satisfied. Our preliminary conclusion is that we expect to identify similar performance obligations under ASC Topic 606 as compared with deliverables and separate units of account previously identified. As a result, we expect the timing of our revenue to remain the same in comparison to the current revenue recognition guidance. There are also certain considerations related to internal control over financial reporting that are associated with implementing Topic 606. We are currently evaluating our control framework for revenue recognition and identifying any changes that may need to be made in response to the new guidance. Disclosure requirements under the new guidance in Topic 606 have been significantly expanded in comparison to the disclosure requirements under the current guidance. Designing and implementing the appropriate controls over gathering and reporting the information required under Topic 606 is currently in process.

Acquisitions

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

On December 19, 2016, we paid $5.0 million for 1,251,878 shares of common stock and a distribution agreement with Bluegrass Vascular Technologies, Inc. ("Bluegrass"). The common stock, which represents an ownership interest of approximately 19.5%, has been accounted for as a cost method investment of $4.0 million reflected within other assets in the accompanying consolidated balance sheets because we are not able to exercise significant influence over the operations of Bluegrass. The distribution agreement intangible asset was valued at $1.0 million and will be amortized over a period of three years.

On July 6, 2016, we acquired all of the issued and outstanding shares of DFINE Inc. ("DFINE"). The DFINE acquisition added a line of vertebral augmentation products for the treatment of vertebral compression fractures ("VCF") as well as medical devices used to treat metastatic spine tumors. We made an initial payment of $97.5 million to certain DFINE stockholders on July 6, 2016 and paid approximately $578,000 related to a net working capital adjustment subject to review by Merit and the preferred stockholders of DFINE. We accounted for the acquisition as a business combination. In the three-month period ended December 31, 2016, we negotiated the final net working capital adjustment resulting in a reduction to the purchase price of approximately $1.1 million. As a result, we recorded measurement period adjustments to reduce inventories by approximately $89,000, reduce property and equipment by approximately $109,000, reduce goodwill by approximately $1.2 million, reduce accrued expenses by approximately $407,000 and increase the associated deferred tax liabilities by approximately $113,000. Under GAAP, measurement period adjustments are recognized on a prospective basis in the period of change, instead of restating prior periods. There was no impact to reported earnings in connection with these measurement period adjustments.

Acquisition-related costs during the year ended December 31, 2016, which are included in selling, general, and administrative expenses in the accompanying consolidated statements of income, were approximately $1.6 million. 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, 2016, our net sales of DFINE products were approximately $13.5 million. It is not practical to separately report the earnings related to the DFINE acquisition, as we cannot split out sales costs related to DFINE products, principally because our sales representatives are selling multiple products (including DFINE products) in the cardiovascular business segment.

The purchase price was allocated to the net tangible and intangible assets acquired and liabilities assumed, based on estimated fair values, as follows (in thousands):



Assets Acquired
Trade receivables	$	4,054
Other receivables	6
Inventories	8,585
Prepaid expenses	630
Property and equipment	1,630
Other long-term assets	145
Intangibles
Developed technology	67,600
Customer lists	2,400
Trademarks	4,400
Goodwill	24,818
Total assets acquired	114,268

Liabilities Assumed
Trade payables	(1,790		)
Accrued expenses	(5,298		)
Deferred income tax liabilities - current	(701		)
Deferred income tax liabilities - noncurrent	(10,844		)
Total liabilities assumed	(18,633		)

Net assets acquired, net of cash received of $1,327	$	95,635

The gross amount of trade receivables we acquired in the acquisition was approximately $4.3 million, of which approximately $224,000 was expected to be uncollectible or returned. With respect to the DFINE assets, we are amortizing developed technology over fifteen years and customer lists on an accelerated basis over nine 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 fifteen years from the acquisition date. The total weighted-average amortization period for these acquired intangible assets is 14.8 years.

The following table summarizes our consolidated results of operations for the years ended December 31, 2016 and 2015, as well as unaudited pro forma consolidated results of operations as though the acquisition had occurred on January 1, 2015 (in thousands, except per common share amounts):



	2016				2015
	As Reported		Pro Forma		As Reported		Pro Forma
Net Sales	$	603,838	$	621,463	$	542,149	$	575,541
Net Income	20,121		9,825		23,802		3,135
Earnings per common share:
Basic	$	0.45	$	0.22	$	0.54	$	0.07
Diluted	$	0.45	$	0.22	$	0.53	$	0.07

The unaudited pro forma information set forth above is for informational purposes only and includes adjustments related to amortization expense of 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 DFINE acquisition had occurred on January 1, 2015, or results that may be obtained in any future period.

On February 4, 2016, we purchased the HeRO® Graft device and other related assets from CryoLife, Inc., a developer of medical devices based in Kennesaw, Georgia ("CryoLife"). The HeRO Graft is a fully subcutaneous vascular access system intended for use in maintaining long-term vascular access for chronic hemodialysis patients who have failing fistulas, grafts or are catheter dependent due to a central venous blockage. The purchase price was $18.5 million, which was paid in full during 2016. We accounted for this acquisition as a business combination. The purchase price was allocated as follows (in thousands):



Assets Acquired
Inventories	$	2,455
Property and equipment	290
Intangibles
Developed technology	12,100
Trademarks	700
Customers Lists	400
Goodwill	2,555

Total assets acquired	$	18,500

We are amortizing the developed HeRO Graft technology asset over ten years, the related trademarks over 5.5 years, and the associated customer lists over 12 years. We have estimated the weighted average life of the intangible HeRO Graft assets acquired to be approximately 9.82 years. Acquisition-related costs related to the HeRO Graft device and other related assets during the year ended December 31, 2016, which are 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, 2016, our net sales of the products acquired from CryoLife were approximately $7.1 million. It is not practical to separately report the earnings related to the products acquired from CryoLife, as we cannot split out sales costs related to those products, principally because our sales representatives are selling multiple products (including the HeRO Graft device) in the cardiovascular business segment. The pro forma consolidated results of operations acquired from CryoLife are not presented, as we believe the pro forma financial effect of the transaction is not significant.

During 2016, we paid approximately $3.0 million for 2,965,000 preferred limited liability company units of Cagent Vascular, LLC, a medical device company ("Cagent"), which represents an ownership interest of approximately 19.9% and has been accounted for as cost method investment reflected within other assets in the accompanying consolidated balance sheets because we are not able to exercise significant influence over the operations of Cagent.

On December 4, 2015, we entered into a license agreement with ArraVasc Limited, an Irish medical device company, for the right to manufacture and sell certain percutaneous transluminal angioplasty balloon catheter products. As of December 31, 2015, we had paid $500,000 in connection with the agreement. During the year ended December 31, 2016, we paid an additional $1.5 million as the milestones set forth in the license agreement were met during that period. We accounted for the transaction as an asset purchase and intend to amortize the license agreement intangible asset over a period of 12 years.

On September 29, 2015, we entered into a license agreement with Blockade Medical, LLC, a Delaware limited liability company ("Blockade"), for rights to manufacture, market and sell a set of endovascular embolization products. As part of the agreement, we paid $1.7 million during the year ended December 31, 2015 and, in lieu of any additional payment, we converted the cost method investment in Blockade of $1.0 million we had previously recorded, toward the purchase price of the license. We recorded $2.7 million to a license agreement intangible asset, which we intend to amortize over ten years.

On August 19, 2015, we purchased 116,279 shares of Series A Preferred Stock of Xablecath, Inc., a Delaware corporation ("Xablecath"), for an aggregate price of approximately $300,000. Our ownership interest in Xablecath is approximately 14% and is accounted for as a cost-method investment reflected within other assets in the accompanying consolidated balance sheets. Xablecath is developing an over-the-wire crossing catheter.

On July 17, 2015, we entered into an asset purchase agreement with LeMaitre Vascular, Inc., a Delaware corporation ("LeMaitre"), for rights to the Unballoon® non-occlusive modeling catheter. We accounted for the transaction as an asset purchase. The full purchase price of $400,000 was paid as of December 31, 2015, and the purchase price was recorded as a developed technology intangible asset, which we intend to amortize over a period of 10 years.

On July 14, 2015, we entered into an asset purchase agreement with Quellent, LLC, a California limited liability company ("Quellent"), for superabsorbent pad technology. The purchase price for the asset was $1.0 million, payable in two installments. We accounted for this acquisition as a business combination. The first payment of $500,000 was paid as of December 31, 2015, and the second payment of $500,000 was recorded as an accrued liability as of December 31, 2015 and paid in the first quarter of 2016. We also recorded $270,000 of contingent consideration related to royalties payable to Quellent pursuant to the asset purchase agreement. The sales and results of operations related to this acquisition have been included in our cardiovascular segment since the acquisition date and were not material. The purchase price was allocated as follows: $1.21 million to a developed technology intangible asset and $60,000 to goodwill. We are amortizing the developed technology intangible asset over 13 years. The pro forma consolidated results of operations are not presented, as we believe the pro forma financial effect of the transaction is not significant.

On July 1, 2015, we entered into an agreement with Catch Medical, LLC, a Utah limited liability company ("Catch Medical"), to purchase rights to a steerable snare. We expensed the full purchase price of $1.0 million to in-process research and development during the year ended December 31, 2015, because the initial costs of in-process research and development acquired in this asset purchase do not have an alternative future use. These costs include payments incurred prior to regulatory approval in connection with acquired research and development projects that provide rights to develop, manufacture, market and sell products. As of December 31, 2016, we have paid cash of $400,000, have a current liability recorded in accrued expenses of $200,000 for the payment that will be due in less than a year and have a long-term obligation of $400,000 recorded for the payments that will be due in over a year.

On July 1, 2015, we entered into a license agreement with Distal Access, LLC, a Utah limited liability company ("Distal"), for guidewire controller technology. We made a payment of $3.5 million upon the closing of the agreement during the year ended December 31, 2015. We accounted for this acquisition as an asset purchase. We recorded the purchase price to a license agreement intangible asset of $3.5 million, which we are amortizing over a period of six years.

On March 26, 2015, we entered into an asset purchase agreement with Teleflex Incorporated, a Delaware corporation ("Teleflex"). We accounted for the transaction as an asset purchase. During the year ended December 31, 2015, we paid $400,000 to acquire the asset, which we recorded as a customer list intangible asset. We paid an additional $400,000 in the year-ended December 31, 2016, which was recorded to the customer list intangible asset, because Teleflex met certain obligations under the agreement. There are no additional payments due under this agreement. We are amortizing the asset over a period of five years.

On January 6, 2015, we amended a distribution and patent sublicense agreement with Catheter Connections, Inc., a Utah corporation ("Catheter Connections"), which we had originally entered into on August 21, 2012 for Catheter Connection's MaleCap Solo technology. The amendment provides exclusive rights for certain aspects of Catheter Connection's DualCap disinfecting cap technology. The purchase price of $250,000 was allocated to a distribution agreement asset, which we are amortizing over ten years.

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. During the year ended December 31, 2014, we paid $624,800 in connection with this agreement. During the year ended December 31, 2015, we paid an additional $1.1 million as a milestone related to 510(k) clearance was achieved. We are obligated to pay an additional €500,000 if additional milestones set forth in the agreement are reached. We accounted for the transaction as an asset purchase. We recorded the amount paid as a license agreement asset, which we intend to amortize over a period of ten 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. During 2015, we paid $3.5 million, which included the amount that was accrued as of December 31, 2014 and the amount related to the achievement of certain milestones under the agreements. As of December 31, 2015, we had paid all obligations under these two agreements. We accounted for the transaction as an asset purchase. The purchase price was allocated as follows: $200,000 to a distribution agreement asset, which we are amortizing over a period of three years and $6.3 million to a license agreement asset, which we are amortizing 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 are amortizing over a period of ten 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 as a cost-method investment. We made a refundable advance to G Medix of $350,000 in 2013 that was credited against the final purchase amount, resulting in a $1.45 million cash payment to G Medix during 2014. G Medix develops catheter-based therapeutic devices.

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 certain 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).

+ References

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+ Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015, are as follows (in thousands):



	2016		2015
Goodwill balance at January 1	$	184,472	$	184,464
Effect of foreign exchange	82		(52		)
Additions as the result of acquisitions	27,373		60
Goodwill balance at December 31	$	211,927	$	184,472

As of December 31, 2016, we had recorded $8.3 million of accumulated goodwill impairment charges. All of the goodwill balance as of December 31, 2016 and 2015, is related to our cardiovascular segment.

Other intangible assets at December 31, 2016 and 2015, consisted of the following (in thousands):



	2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	14,130	$	(3,165	)	$	10,965
Distribution agreements	6,626		(3,527		)	3,099
License agreements	20,695		(3,422		)	17,273
Trademarks	12,380		(3,330		)	9,050
Covenants not to compete	1,028		(936		)	92
Customer lists	22,261		(15,401		)	6,860
Royalty agreements	267		(267		)	—

Total	$	77,387	$	(30,048	)	$	47,339



	2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	12,014	$	(2,595	)	$	9,419
Distribution agreements	5,626		(2,853		)	2,773
License agreements	19,109		(2,438		)	16,671
Trademarks	7,259		(2,554		)	4,705
Covenants not to compete	1,028		(873		)	155
Customer lists	20,793		(15,023		)	5,770
Royalty agreements	267		(267		)	—

Total	$	66,096	$	(26,603	)	$	39,493

Aggregate amortization expense for the years ended December 31, 2016, 2015 and 2014 was approximately $19.3 million, $14.8 million and $14.9 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 did not record any impairment charges during the years ended December 31, 2016 and 2015. During the third quarter of 2014, 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. We recorded an impairment charge for Ostial of approximately $1.1 million, which was offset by approximately $874,000 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, 2016 (in thousands):



Year Ending December 31
2017	$	21,800
2018	21,229
2019	20,826
2020	19,732
2021	13,296

- 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, 2016

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

For the years ended December 31, 2016, 2015 and 2014, income before income taxes is broken out between U.S. and foreign-sourced operations and consisted of the following (in thousands):



	2016		2015		2014
Domestic	$	6,174	$	9,470	$	16,961
Foreign	19,212		21,730		14,611

Total	$	25,386	$	31,200	$	31,572

The components of the provision for income taxes for the years ended December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016			2015			2014

Current expense (benefit):
Federal	$	1,933		$	(17	)	$	1,316
State	492			747			768
Foreign	3,802			3,218			2,644

Total current expense	6,227			3,948			4,728

Deferred expense (benefit):
Federal	(144		)	3,250			4,078
State	(195		)	294			(119		)
Foreign	(623		)	(94		)	(89		)

Total deferred (benefit) expense	(962		)	3,450			3,870

Total income tax expense	$	5,265		$	7,398		$	8,598

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, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016			2015			2014

Computed federal income tax expense at statutory rate of 35%	$	8,885		$	10,920		$	11,050
State income taxes	193			698			438
Tax credits	(1,164		)	(1,019		)	(888		)
Production activity deduction	(53		)	—			—
Foreign tax rate differential	(3,717		)	(3,564		)	(1,958		)
Uncertain tax positions	597			536			(76		)
Deferred compensation insurance assets	(307		)	182			(81		)
Transaction-related expenses	274			—			—
Other — including the effect of graduated rates	557			(355		)	113

Total income tax expense	$	5,265		$	7,398		$	8,598

Deferred income tax assets and liabilities at December 31, 2016 and 2015, consisted of the following temporary differences and carry-forward items (in thousands):



	2016			2015

Deferred income tax assets:
Allowance for uncollectible accounts receivable	$	645		$	531
Accrued compensation expense	6,203			5,534
Inventory differences	1,065			2,043
Net operating loss carryforwards	27,742			11,434
Deferred revenue	73			118
Stock-based compensation expense	2,738			2,532
Federal research and development credit carryforward	3,524			2,355
Foreign tax credits	364			600
Other	6,984			5,754
Total deferred income tax assets	49,338			30,901

Deferred income tax liabilities:
Prepaid expenses	(782		)	(841		)
Property and equipment	(25,108		)	(24,467		)
Intangible assets	(35,773		)	(6,495		)
Other	(1,480		)	(1,077		)
Total deferred income tax liabilities	(63,143		)	(32,880		)
Valuation allowance	(3,786		)	(1,981		)
Net deferred income tax assets (liabilities)	$	(17,591	)	$	(3,960	)

Reported as:
Deferred income tax assets - Current	$	8,219		$	7,025
Deferred income tax assets - Long-term	171			—
Deferred income tax liabilities - Current	—			—
Deferred income tax liabilities - Long-term	(25,981		)	(10,985		)
Net deferred income tax liabilities	$	(17,591	)	$	(3,960	)

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 basis 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, non-US net operating loss carryforwards, and capital loss carryforwards 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 $1.8 million, $378,000, and $240,000 during the years ended December 31, 2016, 2015 and 2014, 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, 2016 and 2015, we had U.S federal net operating loss carryforwards of approximately $76.4 million and $32.7 million, respectively, which were generated by DFINE, Inc. and Biosphere Medical, Inc. prior to our acquisition of these companies. The increase in our net operating loss carryforwards during 2016 relates to our acquisition of DFINE, Inc. in July 2016. These net operating loss carryforwards, which expire at various dates through 2035, 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 19 years. We utilized a total of approximately $6.2 million and $6.0 million in U.S. federal net operating loss carryforwards during the years ended December 31, 2016 and 2015, respectively.

As of December 31, 2016, we had $3.0 million of non-U.S. net operating loss carryforwards, which have no expiration date. As of December 31, 2015, we had $0 of non-U.S. net operating loss carryforwards. Non-U.S. net operating loss carryforwards utilized during the year ended December 31, 2016 and 2015 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 2013. In foreign jurisdictions, we are no longer subject to income tax examinations for years before 2010.

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, 2016, including interest and penalties, was approximately $2.8 million, of which approximately $2.8 million would favorably impact our effective tax rate if recognized. Approximately $2.3 million of the total liability at December 31, 2016 was presented as a reduction to non-current deferred income tax assets on our consolidated balance sheet. The total liability for unrecognized tax benefits at December 31, 2015, including interest and penalties, was approximately $2.2 million, of which approximately $2.2 million would favorably impact our effective tax rate if recognized. Approximately $1.4 million of the total liability at December 31, 2015 was presented as a reduction to non-current deferred income tax assets on our consolidated balance sheet. As of December 31, 2016 and 2015, we had accrued approximately $216,000 and $187,000 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 years ended December 31, 2016, 2015 and 2014 we added interest and penalties of approximately $30,000, $6,000 and $42,000, respectively, to our liability for unrecognized tax benefits. It is reasonably possible that within the next 12 months the total liability for unrecognized tax benefits may increase, net of potential decreases due to the expiration of statutes of limitation, up to $500,000.

A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax benefits for the years ended December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



Tabular Roll-forward	2016			2015			2014

Unrecognized tax benefits, opening balance	$	1,982		$	1,736		$	2,129
Gross increases in tax positions taken in a prior year	77			187			142
Gross increases in tax positions taken in the current year	856			763			309
Lapse of applicable statute of limitations	(366		)	(704		)	(844		)
Unrecognized tax benefits, ending balance	$	2,549		$	1,982		$	1,736

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

Revolving Credit Facility and Long-Term Debt

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Revolving Credit Facility and Long-Term Debt

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT

On July 6, 2016, we entered into a Second Amended and Restated Credit Agreement (as amended on September 28, 2016, the “Second Amended Credit Agreement”), with Wells Fargo Bank, National Association, as administrative agent, swingline lender and a lender, and Wells Fargo Securities, LLC, as sole lead arranger and sole bookrunner. In addition to Wells Fargo Bank, National Association, Bank of America, N.A., U.S. Bank, National Association, and HSBC Bank USA, National Association, are parties to the Second Amended Credit Agreement as lenders. The Second Amended Credit Agreement amends and restates in its entirety Merit’s previously outstanding Amended and Restated Credit Agreement and all amendments thereto.

The Second Amended Credit Agreement provides for a term loan of $150 million and a revolving credit commitment up to an aggregate amount of $275 million, which includes a reserve of $25 million to make swingline loans from time to time. The term loan is payable in quarterly installments in the amounts provided in the Second Amended Credit Agreement until the maturity date of July 6, 2021, at which time the term and revolving credit loans, together with accrued interest thereon, will be due and payable. 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.

In summary, principal balances under our long-term debt as of December 31, 2016 and 2015, consisted of the following (in thousands):



	2016			2015
Term loan	$	145,000		$	64,962
Revolving credit loans	180,000			142,631
Less debt issuance costs	(627		)	—
Total long-term debt	324,373			207,593
Less current portion	10,000			10,000
Long-term portion	$	314,373		$	197,593

Revolving credit loans denominated in dollars and term loans made under the Second Amended Credit Agreement bear interest, at our election, at either a Base Rate or Eurocurrency Base Rate (as such terms are defined in the Second Amended Credit Agreement) plus the applicable margin, which increases as our Consolidated Total Leverage Ratio (as defined in the Second Amended Credit Agreement) increases. Revolving credit loans denominated in an Alternative Currency (as defined in the Second Amended Credit Agreement) bear interest at the Eurocurrency rate plus the applicable margin. Swingline loans bear interest at the base rate plus the applicable margin. Upon an event of default, the interest rate may be increased by 2.0%. The revolving credit commitment will also carry a commitment fee of 0.15% to 0.40% per annum on the unused portion.

The Second Amended Credit Agreement is collateralized by substantially all our assets. The Second Amended Credit Agreement contains covenants, representations and warranties and other terms customary for loans of this nature. The Second Amended Credit Agreement requires that we maintain certain financial covenants, as follows:



		Covenant Requirement
Consolidated Total Leverage Ratio (1)
	Through March 31, 2017	4.5 to 1.0
	April 1, 2017 through June 30. 2017	4.0 to 1.0
	July 1, 2017 through December 31, 2017	3.75 to 1.0
	January 1, 2018 through March 31, 2018	3.5 to 1.0
	April 1, 2018 and thereafter	3.25 to 1.0
Consolidated EBITDA (2)		1.25 to 1.0
Consolidated Net Income (3)		$—
Facility Capital Expenditures (4)		$30 million

(1)	Maximum Consolidated Total Leverage Ratio (as defined in the Second Amended Credit Agreement) as of any fiscal quarter end.
(2)	Minimum ratio of Consolidated EBITDA (as defined in the Second Amended Credit Agreement and adjusted for certain expenditures) to Consolidated Fixed Charges (as defined in the Second Amended Credit Agreement) for any period of four consecutive fiscal quarters.
(3)	Minimum level of Consolidated Net Income (as defined in the Second Amended Credit Agreement) for certain periods, and subject to certain adjustments.
(4)	Maximum level of the aggregate amount of all Facility Capital Expenditures (as defined in the Second Amended Credit Agreement) in any fiscal year.

Additionally, the Second Amended Credit Agreement contains customary events of default and affirmative and negative covenants for transactions of this type. As of December 31, 2016, we believe we were in compliance with all covenants set forth in the Second Amended Credit Agreement.

Future minimum principal payments on our long-term debt as of December 31, 2016, are as follows (in thousands):



Years Ending	Future Minimum
December 31	Principal Payments
2017	10,000
2018	12,500
2019	15,000
2020	17,500
2021	270,000
Total future minimum principal payments	$	325,000

As of December 31, 2016, we had outstanding borrowings of approximately $325.0 million under the Second Amended Credit Agreement, with available borrowings of approximately $95.0 million, based on the leverage ratio required pursuant to the Second Amended Credit Agreement. Our interest rate as of December 31, 2016 was a fixed rate of 3.12% on $45.0 million and 2.98% on $130.0 million as a result of interest rate swaps (see Note 8), and a variable floating rate of 2.77% on $150.0 million. Our interest rate as of December 31, 2015 was a fixed rate of 2.48% on $135.0 million as a result of an interest rate swap, variable floating rate of 1.74% on $65.8 million and a variable floating rate of 2.12% on approximately $6.8 million.

Derivatives

12 Months Ended

Dec. 31, 2016

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 interest rate swaps 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 hedging instruments are recorded in earnings throughout the term of the derivative.

Interest Rate Risk. 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 Second Amended Credit Agreement that is solely due to changes in the benchmark interest rate.

Derivatives Designated as Cash Flow Hedges

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 our Second Amended Credit Agreement. The interest rate swap is scheduled to expire on December 19, 2017.

On August 5, 2016, we entered into a pay-fixed, receive-variable interest rate swap having an initial notional amount of $42.5 million with Wells Fargo to fix the one-month LIBOR rate at 1.12%. The variable portion of the interest rate swap is tied to the one-month LIBOR rate (the benchmark interest rate). On a monthly basis, 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. The notional amount of the interest rate swap increases quarterly by an amount equal to the decrease of the hedge entered into on December 19, 2012, up to the amount of $175.0 million. The interest rate swap is scheduled to expire on July 6, 2021.

At December 31, 2016 and 2015, our interest rate swaps qualified as cash flow hedges. The fair value of our interest rate swaps at December 31, 2016 was an asset of approximately $5.0 million, which was partially offset by approximately $1.9 million in deferred taxes. The fair value of our interest rate swap at December 31, 2015 was an asset of approximately $2,000, which was offset by approximately $1,000 in deferred taxes.

Foreign Currency Risk. We operate on a global basis and are exposed to the risk that our financial condition, results of operations, and cash flows could be adversely affected by changes in foreign currency exchange rates. To reduce the potential effects of foreign currency exchange rate movements on net earnings, we enter into derivative financial instruments in the form of foreign currency exchange forward contracts with major financial institutions. Our policy is to enter into foreign currency derivative contracts with maturities of up to two years. We are primarily exposed to foreign currency exchange rate risk with respect to transactions and balances denominated in Euros, British Pounds, Chinese Yuan Renminbi, Mexican Pesos, Brazilian Reals, Australian Dollars, Hong Kong Dollars, Swiss Francs, Swedish Krona, Canadian Dollars, and Danish Krone. We do not use derivative financial instruments for trading or speculative purposes. We are not subject to any credit risk contingent features related to our derivative contracts, and counterparty risk is managed by allocating derivative contracts among several major financial institutions.

Derivatives Designated as Cash Flow Hedges

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any (i.e., the ineffectiveness portion) or hedge components excluded from the assessment of effectiveness, are recognized in earnings during the current period. We entered into forward contracts on various foreign currencies to manage the risk associated with forecasted exchange rates which impact revenues, cost of sales, and operating expenses in various international markets. The objective of the hedges is to reduce the variability of cash flows associated with the forecasted purchase or sale of the associated foreign currencies.

We enter into approximately 100 cash flow foreign currency hedges every month. As of December 31, 2016, we had entered into foreign currency forward contracts, which qualified as cash flow hedges, with the following notional amounts (in thousands and in local currencies):



Currency	Symbol	Forward Notional Amount
Euro	EUR	11,065
Swiss Franc	CHF	1,303
Danish Krone	DKK	8,795
British Pound	GBP	3,115
Mexican Peso	MXN	76,525
Swedish Krona	SEK	13,165

Derivatives Not Designated as Cash Flow Hedges

We forecast our net exposure in various receivables and payables to fluctuations in the value of various currencies, and we enter into foreign currency forward contracts to mitigate that exposure. We enter into approximately 20 foreign currency fair value hedges every month. As of December 31, 2016, we had entered into foreign currency forward contracts related to those balance sheet accounts with the following notional amounts (in thousands and in local currencies):



Currency	Symbol	Forward Notional Amount
Euro	EUR	20,657
British Pound	GBP	975
Chinese Yuan Renminbi	CNY	16,615
Mexican Peso	MXN	19,125
Brazilian Real	BRL	5,100
Australian Dollar	AUD	4,150
Hong Kong Dollar	HKD	11,000
Swiss Franc	CHF	230
Swedish Krona	SEK	3,035
Canadian Dollar	CAD	4,320

Balance Sheet Presentation of Derivatives. As of December 31, 2016 and 2015, all derivatives, both those designated as hedging instruments and those that were not designated as hedging instruments, were recorded gross at fair value on our consolidated balance sheets. We are not subject to any master netting agreements.

The fair value of derivative instruments on a gross basis is as follows (in thousands):



	As of December 31, 2016				As of December 31, 2015
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Assets
Interest rates swaps	Other assets (long-term)	$	4,991		Other assets (long-term)	$	2
Foreign currency forward contracts	Prepaid expenses and other assets	116			N/A	—
Foreign currency forward contracts	Other assets (long-term)	18			N/A	—

Liabilities
Foreign currency forward contracts	Accrued Expenses	(275		)	N/A	—
Foreign currency forward contracts	Other long-term obligations	(18		)	N/A	—

Derivatives not designated as hedging instruments
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	220		Other Receivables	$	115
Liabilities
Foreign currency forward contracts	Accrued Expenses	(171		)	Accrued Expenses	(278		)

Income Statement Presentation of Derivatives

Derivatives Designated as Cash Flow Hedges

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on other comprehensive income and net earnings in our consolidated statements of earnings, consolidated statements of comprehensive income and consolidated balance sheets (in thousands):



	Amount of Gain/(Loss) recognized in OCI									Amount of Gain/(Loss) reclassified from AOCI
	Year ended December 31,									Year ended December 31,
	2016		2015			2014				2016		2015	2014
Derivative instrument									Location in statements of income
Interest rate swaps	$4,989		$	(571	)	$	(630	)	Interest Expense	$718		$1,103	$587
Foreign currency forward contracts	68		—			—			Revenue	21		—	—
Foreign currency forward contracts	(273	)	—			—			Cost of goods sold	(26	)	—	—

The net amount recognized in earnings during the years ended December 31, 2016, 2015 and 2014 due to ineffectiveness and amounts excluded from the assessment of hedge effectiveness were not significant.

As of December 31, 2016, approximately $205,000, or $125,000 after taxes, was expected to be reclassified from accumulated other comprehensive income to earnings in revenue and cost of sales over the succeeding twelve months. As of December 31, 2016, approximately $91,000, or $56,000 after taxes, was expected to be reclassified from accumulated other comprehensive income to earnings in interest expense over the succeeding twelve months.

Derivatives Not Designated as Hedging Instruments

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the years presented (in thousands):



		Year ended December 31,
		2016		2015			2014
Derivative Instrument	Location in statements of income
Foreign currency forward contracts	Other expense	$	69	$	(302	)	$	8

See Note 16 for more information about our derivatives.

- 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, 2016

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, 2016, 2015 and 2014, approximated $11.4 million, $10.7 million and $8.1 million, respectively.

The future minimum lease payments for operating leases as of December 31, 2016, consisted of the following (in thousands):



Years Ending	Operating
December 31	Leases

2017	$	10,168
2018	9,062
2019	8,161
2020	5,100
2021	4,704
Thereafter	32,736

Total minimum lease payments	$	69,931

Sale-Leaseback. During the year ended December 31, 2015, we entered into sale and leaseback transactions to finance certain production equipment for $2.0 million. During the year ended December 31, 2014, we entered into sale and leaseback transactions to finance certain production equipment for $5.5 million. We did not enter into any new sale and leaseback transactions during the year ended December 31, 2016. The lease agreements from the sale and leaseback transactions are accounted for as operating leases. Under the terms of the lease agreements, we have agreed to operate and maintain the equipment. The lease term of the agreements is seven years.

Irish Government Development Agency Grants. As of December 31, 2016, we had entered into several grant agreements with the Irish Government Development Agency. 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, 2016 and 2015, was approximately $2.5 million and $2.7 million, respectively. During the years ended December 31, 2016, 2015 and 2014, approximately $170,000, $171,000 and $175,000, 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, 2016, the total amount of grants that could be subject to refund was approximately $3.7 million, and the remaining grant liability period was two 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, contract disputes, and employment or other matters that are significant to our business. Based upon our review of currently available information, we do not believe that any such actions are likely to be, individually or in the aggregate, materially adverse to our business, financial condition, results of operations or liquidity.

In October 2016, we received a subpoena from the U.S. Department of Justice seeking information on certain of our marketing and promotional practices. We are in the process of responding to the subpoena, which we anticipate will continue during 2017. We have incurred, and anticipate that we will continue to incur, substantial costs in connection with the matter. The investigation is ongoing and at this stage we are unable to predict its scope, duration or outcome. Investigations such as this may result in the imposition of, among other things, significant damages, injunctions, fines or civil or criminal claims or penalties against our company or individuals.

In the event of unexpected further developments, it is possible that the ultimate resolution of any of the foregoing matters, or other similar matters, if resolved in a manner unfavorable to us, 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.

Earnings Per Common Share (EPS)

12 Months Ended

Dec. 31, 2016

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, 2016:
Basic EPS	$	20,121	44,408	$	0.45
Effect of dilutive stock options and warrants			454

Diluted EPS	$	20,121	44,862	$	0.45

Year ended December 31, 2015:
Basic EPS	$	23,802	44,036	$	0.54
Effect of dilutive stock options and warrants			475

Diluted EPS	$	23,802	44,511	$	0.53

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

For the years ended December 31, 2016, 2015 and 2014, approximately 727,000, 423,000 and 1,292,000, respectively, of stock options were not included in the computation of diluted earnings per share because their effect would have been anti-dilutive.

Employee Stock Purchase Plan Stock Options and Warrants

12 Months Ended

Dec. 31, 2016

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 a contractual life of seven years. As of December 31, 2016, a total of approximately 1.7 million shares remained available to be issued under the 2006 Incentive Plan.

Employee Stock Purchase Plan. We have a non-qualified Employee Stock Purchase Plan (“ESPP”), which has an expiration date of June 30, 2026. As of December 31, 2016, the total number of shares of Common Stock that remained available to be issued under our non-qualified plan was approximately 151,000 shares. 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, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016		2015		2014
Cost of goods sold	$	472	$	398	$	198
Research and development	184		122		69
Selling, general, and administrative	1,850		1,723		1,193
Stock-based compensation expense before taxes	$	2,506	$	2,243	$	1,460

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, 2016, the total remaining unrecognized compensation cost related to non-vested stock options, net of expected forfeitures, was approximately $7.9 million and is expected to be recognized over a weighted average period of 3.45 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:



	2016			2015			2014
Risk-free interest rate	1.15%	-	1.40%	1.53%	-	1.66%	1.53%	-	1.97%
Expected option life	5.0 years			5.0 years			5.0	-	5.5 years
Expected dividend yield	—%			—%			—%
Expected price volatility	34.28%	-	37.06%	33.72%	-	35.11%	34.52%	-	36.90%

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, 2016, 2015 and 2014, approximately 880,000, 618,000 and 666,000 stock-based compensation grants were made, respectively, for a total fair value of approximately $5.2 million, $3.7 million and $2.8 million, net of estimated forfeitures, respectively.

The table below presents information related to stock option activity for the years ended December 31, 2016, 2015 and 2014 (in thousands):



	2016		2015		2014
Total intrinsic value of stock options exercised	$	3,648	$	7,548	$	3,505
Cash received from stock option exercises	4,577		6,227		7,697
Excess tax benefit from the exercise of stock options	669		2,124		576

Changes in stock options for the year ended December 31, 2016, consisted of the following (shares and intrinsic value in thousands):



	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Term (in years)	Intrinsic Value
Beginning balance	2,408		$	14.26
Granted	880		17.43
Exercised	(362	)	13.61
Forfeited/expired	(109	)	14.52
Outstanding at December 31	2,817		15.32		4.4	$	31,476
Exercisable	1,033		13.64		2.7	13,274
Ending vested and expected to vest	2,718		15.27		4.4	30,512

The weighted average grant-date fair value of options granted during the years ended December 31, 2016, 2015 and 2014 was $5.94, $5.98 and $4.27, respectively.

The following table summarizes information about stock options outstanding at December 31, 2016 (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
$9.95	-	$13.16	772	3.70	$	12.11	393	$	12.23
$13.75	-	$16.05	1,181	4.02	$	14.84	533	$	13.77
$16.41	-	$20.27	747	5.54	$	18.35	103	$	18.06
$21.71	-	$22.00	117	6.54	$	21.94	4	$	21.98
$9.95	-	$22.00	2,817				1,033

- 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, 2016

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 embolotherapeutic, cardiac rhythm management ("CRM"), electrophysiology ("EP"), and interventional oncology and spine devices. 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, 2016, 2015 and 2014 (in thousands):



	% Change	2016		% Change	2015		% Change	2014

Cardiovascular
Stand-alone devices	25%	$	193,517	8%	$	155,414	15%	$	143,712
Custom kits and procedure trays	3%	119,392		5%	116,368		7%	111,076
Inflation devices	1%	73,919		1%	73,373		10%	72,538
Catheters	15%	110,939		11%	96,833		17%	87,550
Embolization devices	2%	46,035		3%	45,025		31%	43,855
CRM/EP	8%	36,446		3%	33,902		17%	32,975
Total	11%	580,248		6%	520,915		14%	491,706

Endoscopy
Endoscopy devices	11%	23,590		18%	21,234		6%	17,983

Total	11%	$	603,838	6%	$	542,149	14%	$	509,689

During the years ended December 31, 2016, 2015 and 2014, we had foreign sales of approximately $233.5 million, $214.0 million and $198.3 million, respectively, or approximately 39%, 39% and 39%, respectively, of net sales, primarily in China, Japan, Germany, France, the United Kingdom and Russia. China represents our most significant international sales market with sales of approximately $59.9 million, $50.7 million, and $40.7 million for the years ended December 31, 2016, 2015 and 2014, respectively. Foreign sales are attributed based on location of the customer receiving the product.

Our long-lived assets by geographic area at December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016		2015		2014
United States	$	194,715	$	186,389	$	177,627
Ireland	47,337		48,896		49,708
Other foreign countries	34,521		32,493		16,836
Total	$	276,573	$	267,778	$	244,171

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2016, 2015 and 2014, are as follows (in thousands):



	2016			2015			2014
Net Sales
Cardiovascular	$	580,248		$	520,915		$	491,706
Endoscopy	23,590			21,234			17,983
Total net sales	603,838			542,149			509,689

Operating expenses
Cardiovascular	218,659			187,492			175,152
Endoscopy	11,490			10,746			9,904
Total operating expenses	230,149			198,238			185,056

Operating income (loss)
Cardiovascular	30,120			34,052			38,601
Endoscopy	4,756			3,491			1,565
Total operating income	34,876			37,543			40,166

Total other expense - net	(9,490		)	(6,343		)	(8,594		)
Income tax expense	5,265			7,398			8,598

Net income	$	20,121		$	23,802		$	22,974

Total assets by business segment at December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016		2015		2014
Cardiovascular	$	932,927	$	767,952	$	734,940
Endoscopy	9,876		10,776		12,225
Total	$	942,803	$	778,728	$	747,165

Total depreciation and amortization by business segment for the years ended December 31, 2016, 2015, and 2014 consisted of the following (in thousands):



	2016		2015		2014

Cardiovascular	$	42,806	$	36,474	$	34,975
Endoscopy	949		951		954
Total	$	43,755	$	37,425	$	35,929

Total capital expenditures for property and equipment by business segment for the years ended December 31, 2016, 2015 and 2014 consisted of the following (in thousands):



	2016		2015		2014

Cardiovascular	$	32,613	$	50,927	$	33,660
Endoscopy	224		32		521
Total	$	32,837	$	50,959	$	34,181

- 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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-Name Accounting Standards Codification
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+ Details

Royalty Agreements	12 Months Ended
Royalty Agreements	Dec. 31, 2016
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 recorded expense of approximately $1.8 million, $1.5 million and $1.5 million related to royalty payments to AP-HP for the years ended December 31, 2016, 2015 and 2014, respectively. These amounts are included as a current liability in accrued expenses in our consolidated balance sheets for the years indicated. 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, 2016
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, 2016, 2015 and 2014, totaled approximately $2.3 million, $2.0 million and $1.8 million, respectively. We also 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, 2016, 2015 and 2014, totaled approximately $1.1 million, $893,000 and $912,000, respectively.

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

Quarterly data for the years ended December 31, 2016 and 2015 consisted of the following (in thousands, except per share amounts):



	Quarter Ended
	March 31		June 30		September 30			December 31
2016
Net sales	$	138,077	$	151,071	$	156,975		$	157,715
Gross profit	60,100		66,854		67,815			70,256
Income from operations	7,706		11,581		2,987			12,602
Income tax expense (benefit)	1,555		2,572		(978		)	2,116
Net income	4,351		7,290		973			7,507
Basic earnings per common share	0.10		0.16		0.02			0.17
Diluted earnings per common share	0.10		0.16		0.02			0.17

2015
Net sales	$	129,577	$	138,082	$	136,086		$	138,404
Gross profit	55,383		60,886		59,205			60,307
Income from operations	8,704		12,242		8,547			8,050
Income tax expense	2,289		3,122		1,842			145
Net income	5,174		7,401		4,818			6,409
Basic earnings per common share	0.12		0.17		0.11			0.14
Diluted earnings per common share	0.12		0.17		0.11			0.14

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.

Fair Value Measurements

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015, 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, 2016			(Level 1)		(Level 2)			(Level 3)

Interest rate contracts (1)	$	4,991		$	—	$	4,991		$	—
Foreign currency contract assets, current and long-term (2)	$	354		$	—	$	354		$	—
Foreign currency contract liabilities, current and long-term (3)	$	(464	)	$	—	$	(464	)	$	—

				Fair Value Measurements Using
	Total Fair			Quoted prices in		Significant other			Significant
	Value at			active markets		observable inputs			Unobservable inputs
Description	December 31, 2015			(Level 1)		(Level 2)			(Level 3)

Interest rate contracts (1)	$	2		$	—	$	2		$	—
Foreign currency contracts (2)	$	(278	)	$	—	$	(278	)	$	—

(1) The fair value of the interest rate contracts is determined using Level 2 fair value inputs and is recorded as other assets or other long-term obligations in the consolidated balance sheets.

(2) The fair value of the foreign currency contract assets (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as prepaid and other assets or other long-term assets in the consolidated balance sheets.

(3) The fair value of the foreign currency contract liabilities (including those designated as hedging instruments and those not designated as hedging instruments) is determined using Level 2 fair value inputs and is recorded as accrued expenses or other long-term obligations in the consolidated balance sheets.

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, 2016 and 2015, consisted of the following (in thousands):



	2016			2015
Beginning balance	$	1,024		$	1,886
Contingent consideration liability recorded as the result of acquisitions (see Note 2)	—			270
Fair value adjustments recorded to income during the period	(123		)	80
Contingent payments made	(218		)	(1,212		)
Ending balance	$	683		$	1,024

As of December 31, 2016, approximately $595,000 was included in other long-term obligations and approximately $88,000 was included in accrued expenses in our consolidated balance sheet. As of December 31, 2015, approximately $775,000 was included in other long-term obligations and $249,000 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 first quarter of 2016, we sold a cost method investment for cash and for the right to receive additional payments based on various contingent milestones. We determined the fair value of the contingent payments using Level 3 inputs defined under authoritative guidance for fair value measurements, and we recorded a contingent receivable asset, which as of December 31, 2016 had a value of approximately $528,000. We record any changes in fair value to operating expenses as part of our cardiovascular segment in our consolidated statements of income. During the year ended December 31, 2016, we recorded a loss on the contingent receivable of approximately $184,000. As of December 31, 2016, approximately $367,000 was included in other long-term assets and approximately $161,000 was included in other receivables as a current asset in our consolidated balance sheet.

The recurring Level 3 measurement of our contingent consideration liability and contingent receivable includes the following significant unobservable inputs at December 31, 2016 and 2015 (amounts in thousands):



Contingent consideration asset or liability	Fair value at December 31, 2016		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	683	Discounted cash flow	Discount rate	9.9% - 15%
contingent liability			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2017-2028

Contingent receivable	$	528	Discounted cash flow	Discount rate	10%
asset			Discounted cash flow	Probability of milestone payment	57%
				Projected year of payments	2017-2019

Contingent consideration liability	Fair value at December 31, 2015		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	874	Discounted cash flow	Discount rate	5% - 15%
contingent liability			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2016-2028

Other payments	$	150	Discounted cash flow	Discount rate	—%
contingent liability			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2016

The contingent consideration liability and contingent receivable are 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. 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. A decrease in the probability of any milestone payment may result in lower fair value measurements. Our determination of the fair value of the contingent consideration liability and contingent receivable 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.

During the years ended December 31, 2016, 2015 and 2014, we had losses of approximately $101,000, $141,000, and $1.4 million, respectively, related to the measurement of non-financial assets at fair value on a nonrecurring basis subsequent to their initial recognition.

The carrying amount of cash and cash equivalents, receivables, and trade payables approximate 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, which are Level 1 inputs.

- 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

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS We have evaluated whether any subsequent events have occurred from December 31, 2016 to the time of filing of this report that would require disclosure in the consolidated financial statements. We note the following events below. On February 1, 2017, we acquired certain products from Argon Medical Devices, Inc. and Catheter Connections, Inc. The combined transactions were financed with a combination of cash and existing credit facilities, which totaled $48.0 million. We are currently evaluating the accounting treatment of these purchases, as well as performing the valuation of the assets acquired and the related purchase price allocation.

Schedule II - Valuation and qualifying accounts

12 Months Ended

Dec. 31, 2016

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, 2016, 2015 and 2014

(In thousands)



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

ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS:

2014	(840	)	(83	)	30	—		(893	)
2015	(893	)	(607	)	203	—		(1,297	)
2016	(1,297	)	(404	)	322	(208	)	(1,587	)

(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, 2016, 2015 and 2014

(In thousands)



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

TAX VALUATION ALLOWANCE:

2014	(1,363	)	(240	)	—	(1,603	)
2015	(1,603	)	(378	)	—	(1,981	)
2016	(1,981	)	(1,805	)	—	(3,786	)

(d) 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 (Policies)

12 Months Ended

Dec. 31, 2016

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	5	-	14 years
Developed technology	8	-	15 years
Distribution agreements	3	-	12 years
License agreements and trademarks	4	-	15 years
Covenants not to compete	7	-	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 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

DERIVATIVES

Derivatives Designated as Cash Flow Hedges

Recently Issued Financial Accounting Standards

Derivatives (Policies)	12 Months Ended
Derivatives (Policies)	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives. We use forward contracts to mitigate our exposure to volatility in foreign exchange rates, and we use interest rate swaps to hedge changes in the benchmark interest rate related to our Second Amended 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). 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 interest rate swaps 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 hedging instruments are recorded in earnings throughout the term of the derivative. Interest Rate Risk. 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 Second Amended Credit Agreement that is solely due to changes in the benchmark interest rate. Derivatives Designated as Cash Flow Hedges 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 our Second Amended Credit Agreement. The interest rate swap is scheduled to expire on December 19, 2017. On August 5, 2016, we entered into a pay-fixed, receive-variable interest rate swap having an initial notional amount of $42.5 million with Wells Fargo to fix the one-month LIBOR rate at 1.12%. The variable portion of the interest rate swap is tied to the one-month LIBOR rate (the benchmark interest rate). On a monthly basis, 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. The notional amount of the interest rate swap increases quarterly by an amount equal to the decrease of the hedge entered into on December 19, 2012, up to the amount of $175.0 million. The interest rate swap is scheduled to expire on July 6, 2021. At December 31, 2016 and 2015, our interest rate swaps qualified as cash flow hedges. The fair value of our interest rate swaps at December 31, 2016 was an asset of approximately $5.0 million, which was partially offset by approximately $1.9 million in deferred taxes. The fair value of our interest rate swap at December 31, 2015 was an asset of approximately $2,000, which was offset by approximately $1,000 in deferred taxes. Foreign Currency Risk. We operate on a global basis and are exposed to the risk that our financial condition, results of operations, and cash flows could be adversely affected by changes in foreign currency exchange rates. To reduce the potential effects of foreign currency exchange rate movements on net earnings, we enter into derivative financial instruments in the form of foreign currency exchange forward contracts with major financial institutions. Our policy is to enter into foreign currency derivative contracts with maturities of up to two years. We are primarily exposed to foreign currency exchange rate risk with respect to transactions and balances denominated in Euros, British Pounds, Chinese Yuan Renminbi, Mexican Pesos, Brazilian Reals, Australian Dollars, Hong Kong Dollars, Swiss Francs, Swedish Krona, Canadian Dollars, and Danish Krone. We do not use derivative financial instruments for trading or speculative purposes. We are not subject to any credit risk contingent features related to our derivative contracts, and counterparty risk is managed by allocating derivative contracts among several major financial institutions. Derivatives Designated as Cash Flow Hedges For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any (i.e., the ineffectiveness portion) or hedge components excluded from the assessment of effectiveness, are recognized in earnings during the current period. We entered into forward contracts on various foreign currencies to manage the risk associated with forecasted exchange rates which impact revenues, cost of sales, and operating expenses in various international markets. The objective of the hedges is to reduce the variability of cash flows associated with the forecasted purchase or sale of the associated foreign currencies.

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

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	5	-	14 years
Developed technology	8	-	15 years
Distribution agreements	3	-	12 years
License agreements and trademarks	4	-	15 years
Covenants not to compete	7	-	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, 2016

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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



Assets Acquired
Inventories	$	2,455
Property and equipment	290
Intangibles
Developed technology	12,100
Trademarks	700
Customers Lists	400
Goodwill	2,555

Total assets acquired	$	18,500

The purchase price was allocated to the net tangible and intangible assets acquired and liabilities assumed, based on estimated fair values, as follows (in thousands):



Assets Acquired
Trade receivables	$	4,054
Other receivables	6
Inventories	8,585
Prepaid expenses	630
Property and equipment	1,630
Other long-term assets	145
Intangibles
Developed technology	67,600
Customer lists	2,400
Trademarks	4,400
Goodwill	24,818
Total assets acquired	114,268

Liabilities Assumed
Trade payables	(1,790		)
Accrued expenses	(5,298		)
Deferred income tax liabilities - current	(701		)
Deferred income tax liabilities - noncurrent	(10,844		)
Total liabilities assumed	(18,633		)

Net assets acquired, net of cash received of $1,327	$	95,635

Business Acquisition, Pro Forma Information



	2016				2015
	As Reported		Pro Forma		As Reported		Pro Forma
Net Sales	$	603,838	$	621,463	$	542,149	$	575,541
Net Income	20,121		9,825		23,802		3,135
Earnings per common share:
Basic	$	0.45	$	0.22	$	0.54	$	0.07
Diluted	$	0.45	$	0.22	$	0.53	$	0.07

Inventories (Tables)

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories at December 31, 2016 and 2015, consisted of the following (in thousands):



	2016		2015
Finished goods	$	63,852	$	59,170
Work-in-process	11,008		8,540
Raw materials	45,835		38,289

Total	$	120,695	$	105,999

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015, are as follows (in thousands):



	2016		2015
Goodwill balance at January 1	$	184,472	$	184,464
Effect of foreign exchange	82		(52		)
Additions as the result of acquisitions	27,373		60
Goodwill balance at December 31	$	211,927	$	184,472

Other intangible assets

Other intangible assets at December 31, 2016 and 2015, consisted of the following (in thousands):



	2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	14,130	$	(3,165	)	$	10,965
Distribution agreements	6,626		(3,527		)	3,099
License agreements	20,695		(3,422		)	17,273
Trademarks	12,380		(3,330		)	9,050
Covenants not to compete	1,028		(936		)	92
Customer lists	22,261		(15,401		)	6,860
Royalty agreements	267		(267		)	—

Total	$	77,387	$	(30,048	)	$	47,339



	2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents	$	12,014	$	(2,595	)	$	9,419
Distribution agreements	5,626		(2,853		)	2,773
License agreements	19,109		(2,438		)	16,671
Trademarks	7,259		(2,554		)	4,705
Covenants not to compete	1,028		(873		)	155
Customer lists	20,793		(15,023		)	5,770
Royalty agreements	267		(267		)	—

Total	$	66,096	$	(26,603	)	$	39,493

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, 2016 (in thousands):



Year Ending December 31
2017	$	21,800
2018	21,229
2019	20,826
2020	19,732
2021	13,296

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, 2016, 2015 and 2014, income before income taxes is broken out between U.S. and foreign-sourced operations and consisted of the following (in thousands):



	2016		2015		2014
Domestic	$	6,174	$	9,470	$	16,961
Foreign	19,212		21,730		14,611

Total	$	25,386	$	31,200	$	31,572

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes for the years ended December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016			2015			2014

Current expense (benefit):
Federal	$	1,933		$	(17	)	$	1,316
State	492			747			768
Foreign	3,802			3,218			2,644

Total current expense	6,227			3,948			4,728

Deferred expense (benefit):
Federal	(144		)	3,250			4,078
State	(195		)	294			(119		)
Foreign	(623		)	(94		)	(89		)

Total deferred (benefit) expense	(962		)	3,450			3,870

Total income tax expense	$	5,265		$	7,398		$	8,598

Schedule of Effective Income Tax Rate Reconciliation



	2016			2015			2014

Computed federal income tax expense at statutory rate of 35%	$	8,885		$	10,920		$	11,050
State income taxes	193			698			438
Tax credits	(1,164		)	(1,019		)	(888		)
Production activity deduction	(53		)	—			—
Foreign tax rate differential	(3,717		)	(3,564		)	(1,958		)
Uncertain tax positions	597			536			(76		)
Deferred compensation insurance assets	(307		)	182			(81		)
Transaction-related expenses	274			—			—
Other — including the effect of graduated rates	557			(355		)	113

Total income tax expense	$	5,265		$	7,398		$	8,598

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities at December 31, 2016 and 2015, consisted of the following temporary differences and carry-forward items (in thousands):



	2016			2015

Deferred income tax assets:
Allowance for uncollectible accounts receivable	$	645		$	531
Accrued compensation expense	6,203			5,534
Inventory differences	1,065			2,043
Net operating loss carryforwards	27,742			11,434
Deferred revenue	73			118
Stock-based compensation expense	2,738			2,532
Federal research and development credit carryforward	3,524			2,355
Foreign tax credits	364			600
Other	6,984			5,754
Total deferred income tax assets	49,338			30,901

Deferred income tax liabilities:
Prepaid expenses	(782		)	(841		)
Property and equipment	(25,108		)	(24,467		)
Intangible assets	(35,773		)	(6,495		)
Other	(1,480		)	(1,077		)
Total deferred income tax liabilities	(63,143		)	(32,880		)
Valuation allowance	(3,786		)	(1,981		)
Net deferred income tax assets (liabilities)	$	(17,591	)	$	(3,960	)

Reported as:
Deferred income tax assets - Current	$	8,219		$	7,025
Deferred income tax assets - Long-term	171			—
Deferred income tax liabilities - Current	—			—
Deferred income tax liabilities - Long-term	(25,981		)	(10,985		)
Net deferred income tax liabilities	$	(17,591	)	$	(3,960	)

Summary of Income Tax Contingencies



Tabular Roll-forward	2016			2015			2014

Unrecognized tax benefits, opening balance	$	1,982		$	1,736		$	2,129
Gross increases in tax positions taken in a prior year	77			187			142
Gross increases in tax positions taken in the current year	856			763			309
Lapse of applicable statute of limitations	(366		)	(704		)	(844		)
Unrecognized tax benefits, ending balance	$	2,549		$	1,982		$	1,736

Revolving Credit Facility and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

In summary, principal balances under our long-term debt as of December 31, 2016 and 2015, consisted of the following (in thousands):



	2016			2015
Term loan	$	145,000		$	64,962
Revolving credit loans	180,000			142,631
Less debt issuance costs	(627		)	—
Total long-term debt	324,373			207,593
Less current portion	10,000			10,000
Long-term portion	$	314,373		$	197,593

Schedule of Long-term Debt Covenants

The Second Amended Credit Agreement requires that we maintain certain financial covenants, as follows:



		Covenant Requirement
Consolidated Total Leverage Ratio (1)
	Through March 31, 2017	4.5 to 1.0
	April 1, 2017 through June 30. 2017	4.0 to 1.0
	July 1, 2017 through December 31, 2017	3.75 to 1.0
	January 1, 2018 through March 31, 2018	3.5 to 1.0
	April 1, 2018 and thereafter	3.25 to 1.0
Consolidated EBITDA (2)		1.25 to 1.0
Consolidated Net Income (3)		$—
Facility Capital Expenditures (4)		$30 million

(1)	Maximum Consolidated Total Leverage Ratio (as defined in the Second Amended Credit Agreement) as of any fiscal quarter end.
(2)	Minimum ratio of Consolidated EBITDA (as defined in the Second Amended Credit Agreement and adjusted for certain expenditures) to Consolidated Fixed Charges (as defined in the Second Amended Credit Agreement) for any period of four consecutive fiscal quarters.
(3)	Minimum level of Consolidated Net Income (as defined in the Second Amended Credit Agreement) for certain periods, and subject to certain adjustments.
(4)	Maximum level of the aggregate amount of all Facility Capital Expenditures (as defined in the Second Amended Credit Agreement) in any fiscal year.

Schedule of Maturities of Long-term Debt

Future minimum principal payments on our long-term debt as of December 31, 2016, are as follows (in thousands):



Years Ending	Future Minimum
December 31	Principal Payments
2017	10,000
2018	12,500
2019	15,000
2020	17,500
2021	270,000
Total future minimum principal payments	$	325,000

- 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 210
-SubTopic 10
-Section S99
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Derivatives (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions



Currency	Symbol	Forward Notional Amount
Euro	EUR	20,657
British Pound	GBP	975
Chinese Yuan Renminbi	CNY	16,615
Mexican Peso	MXN	19,125
Brazilian Real	BRL	5,100
Australian Dollar	AUD	4,150
Hong Kong Dollar	HKD	11,000
Swiss Franc	CHF	230
Swedish Krona	SEK	3,035
Canadian Dollar	CAD	4,320



Currency	Symbol	Forward Notional Amount
Euro	EUR	11,065
Swiss Franc	CHF	1,303
Danish Krone	DKK	8,795
British Pound	GBP	3,115
Mexican Peso	MXN	76,525
Swedish Krona	SEK	13,165

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on a gross basis is as follows (in thousands):



	As of December 31, 2016				As of December 31, 2015
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Assets
Interest rates swaps	Other assets (long-term)	$	4,991		Other assets (long-term)	$	2
Foreign currency forward contracts	Prepaid expenses and other assets	116			N/A	—
Foreign currency forward contracts	Other assets (long-term)	18			N/A	—

Liabilities
Foreign currency forward contracts	Accrued Expenses	(275		)	N/A	—
Foreign currency forward contracts	Other long-term obligations	(18		)	N/A	—

Derivatives not designated as hedging instruments
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	220		Other Receivables	$	115
Liabilities
Foreign currency forward contracts	Accrued Expenses	(171		)	Accrued Expenses	(278		)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)



	Amount of Gain/(Loss) recognized in OCI									Amount of Gain/(Loss) reclassified from AOCI
	Year ended December 31,									Year ended December 31,
	2016		2015			2014				2016		2015	2014
Derivative instrument									Location in statements of income
Interest rate swaps	$4,989		$	(571	)	$	(630	)	Interest Expense	$718		$1,103	$587
Foreign currency forward contracts	68		—			—			Revenue	21		—	—
Foreign currency forward contracts	(273	)	—			—			Cost of goods sold	(26	)	—	—

Derivative Instruments, Gain (Loss)

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the years presented (in thousands):



		Year ended December 31,
		2016		2015			2014
Derivative Instrument	Location in statements of income
Foreign currency forward contracts	Other expense	$	69	$	(302	)	$	8

Earnings Per Common Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016:
Basic EPS	$	20,121	44,408	$	0.45
Effect of dilutive stock options and warrants			454

Diluted EPS	$	20,121	44,862	$	0.45

Year ended December 31, 2015:
Basic EPS	$	23,802	44,036	$	0.54
Effect of dilutive stock options and warrants			475

Diluted EPS	$	23,802	44,511	$	0.53

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

Employee Stock Purchase Plan Stock Options and Warrants (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016		2015		2014
Cost of goods sold	$	472	$	398	$	198
Research and development	184		122		69
Selling, general, and administrative	1,850		1,723		1,193
Stock-based compensation expense before taxes	$	2,506	$	2,243	$	1,460

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:



	2016			2015			2014
Risk-free interest rate	1.15%	-	1.40%	1.53%	-	1.66%	1.53%	-	1.97%
Expected option life	5.0 years			5.0 years			5.0	-	5.5 years
Expected dividend yield	—%			—%			—%
Expected price volatility	34.28%	-	37.06%	33.72%	-	35.11%	34.52%	-	36.90%

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, 2016, 2015 and 2014 (in thousands):



	2016		2015		2014
Total intrinsic value of stock options exercised	$	3,648	$	7,548	$	3,505
Cash received from stock option exercises	4,577		6,227		7,697
Excess tax benefit from the exercise of stock options	669		2,124		576

Schedule of Share-based Compensation, Stock Options, Activity

Changes in stock options for the year ended December 31, 2016, consisted of the following (shares and intrinsic value in thousands):



	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Term (in years)	Intrinsic Value
Beginning balance	2,408		$	14.26
Granted	880		17.43
Exercised	(362	)	13.61
Forfeited/expired	(109	)	14.52
Outstanding at December 31	2,817		15.32		4.4	$	31,476
Exercisable	1,033		13.64		2.7	13,274
Ending vested and expected to vest	2,718		15.27		4.4	30,512

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, 2016 (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
$9.95	-	$13.16	772	3.70	$	12.11	393	$	12.23
$13.75	-	$16.05	1,181	4.02	$	14.84	533	$	13.77
$16.41	-	$20.27	747	5.54	$	18.35	103	$	18.06
$21.71	-	$22.00	117	6.54	$	21.94	4	$	21.98
$9.95	-	$22.00	2,817				1,033

Segment Reporting and Foreign Operations (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016, 2015 and 2014 (in thousands):



	% Change	2016		% Change	2015		% Change	2014

Cardiovascular
Stand-alone devices	25%	$	193,517	8%	$	155,414	15%	$	143,712
Custom kits and procedure trays	3%	119,392		5%	116,368		7%	111,076
Inflation devices	1%	73,919		1%	73,373		10%	72,538
Catheters	15%	110,939		11%	96,833		17%	87,550
Embolization devices	2%	46,035		3%	45,025		31%	43,855
CRM/EP	8%	36,446		3%	33,902		17%	32,975
Total	11%	580,248		6%	520,915		14%	491,706

Endoscopy
Endoscopy devices	11%	23,590		18%	21,234		6%	17,983

Total	11%	$	603,838	6%	$	542,149	14%	$	509,689

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

Our long-lived assets by geographic area at December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016		2015		2014
United States	$	194,715	$	186,389	$	177,627
Ireland	47,337		48,896		49,708
Other foreign countries	34,521		32,493		16,836
Total	$	276,573	$	267,778	$	244,171

Schedule of Segment Reporting Information, by Segment

Total depreciation and amortization by business segment for the years ended December 31, 2016, 2015, and 2014 consisted of the following (in thousands):



	2016		2015		2014

Cardiovascular	$	42,806	$	36,474	$	34,975
Endoscopy	949		951		954
Total	$	43,755	$	37,425	$	35,929

Total capital expenditures for property and equipment by business segment for the years ended December 31, 2016, 2015 and 2014 consisted of the following (in thousands):



	2016		2015		2014

Cardiovascular	$	32,613	$	50,927	$	33,660
Endoscopy	224		32		521
Total	$	32,837	$	50,959	$	34,181

Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the years ended December 31, 2016, 2015 and 2014, are as follows (in thousands):



	2016			2015			2014
Net Sales
Cardiovascular	$	580,248		$	520,915		$	491,706
Endoscopy	23,590			21,234			17,983
Total net sales	603,838			542,149			509,689

Operating expenses
Cardiovascular	218,659			187,492			175,152
Endoscopy	11,490			10,746			9,904
Total operating expenses	230,149			198,238			185,056

Operating income (loss)
Cardiovascular	30,120			34,052			38,601
Endoscopy	4,756			3,491			1,565
Total operating income	34,876			37,543			40,166

Total other expense - net	(9,490		)	(6,343		)	(8,594		)
Income tax expense	5,265			7,398			8,598

Net income	$	20,121		$	23,802		$	22,974

Reconciliation of Assets from Segment to Consolidated

Total assets by business segment at December 31, 2016, 2015 and 2014, consisted of the following (in thousands):



	2016		2015		2014
Cardiovascular	$	932,927	$	767,952	$	734,940
Endoscopy	9,876		10,776		12,225
Total	$	942,803	$	778,728	$	747,165

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Quarterly data for the years ended December 31, 2016 and 2015 consisted of the following (in thousands, except per share amounts):



	Quarter Ended
	March 31		June 30		September 30			December 31
2016
Net sales	$	138,077	$	151,071	$	156,975		$	157,715
Gross profit	60,100		66,854		67,815			70,256
Income from operations	7,706		11,581		2,987			12,602
Income tax expense (benefit)	1,555		2,572		(978		)	2,116
Net income	4,351		7,290		973			7,507
Basic earnings per common share	0.10		0.16		0.02			0.17
Diluted earnings per common share	0.10		0.16		0.02			0.17

2015
Net sales	$	129,577	$	138,082	$	136,086		$	138,404
Gross profit	55,383		60,886		59,205			60,307
Income from operations	8,704		12,242		8,547			8,050
Income tax expense	2,289		3,122		1,842			145
Net income	5,174		7,401		4,818			6,409
Basic earnings per common share	0.12		0.17		0.11			0.14
Diluted earnings per common share	0.12		0.17		0.11			0.14

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015, 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, 2016			(Level 1)		(Level 2)			(Level 3)

Interest rate contracts (1)	$	4,991		$	—	$	4,991		$	—
Foreign currency contract assets, current and long-term (2)	$	354		$	—	$	354		$	—
Foreign currency contract liabilities, current and long-term (3)	$	(464	)	$	—	$	(464	)	$	—

				Fair Value Measurements Using
	Total Fair			Quoted prices in		Significant other			Significant
	Value at			active markets		observable inputs			Unobservable inputs
Description	December 31, 2015			(Level 1)		(Level 2)			(Level 3)

Interest rate contracts (1)	$	2		$	—	$	2		$	—
Foreign currency contracts (2)	$	(278	)	$	—	$	(278	)	$	—

(1) The fair value of the interest rate contracts is determined using Level 2 fair value inputs and is recorded as other assets or other long-term obligations in the consolidated balance sheets.

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, 2016 and 2015, consisted of the following (in thousands):



	2016			2015
Beginning balance	$	1,024		$	1,886
Contingent consideration liability recorded as the result of acquisitions (see Note 2)	—			270
Fair value adjustments recorded to income during the period	(123		)	80
Contingent payments made	(218		)	(1,212		)
Ending balance	$	683		$	1,024

Fair Value Inputs, Liabilities, Quantitative Information



Contingent consideration asset or liability	Fair value at December 31, 2016		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	683	Discounted cash flow	Discount rate	9.9% - 15%
contingent liability			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2017-2028

Contingent receivable	$	528	Discounted cash flow	Discount rate	10%
asset			Discounted cash flow	Probability of milestone payment	57%
				Projected year of payments	2017-2019

Contingent consideration liability	Fair value at December 31, 2015		Valuation technique	Unobservable inputs	Range
Revenue-based payments	$	874	Discounted cash flow	Discount rate	5% - 15%
contingent liability			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2016-2028

Other payments	$	150	Discounted cash flow	Discount rate	—%
contingent liability			Discounted cash flow	Probability of milestone payment	100%
				Projected year of payments	2016

Organization and Summary of Significant Accounting Policies - Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2016
Patents
Finite-Lived Intangible Assets [Line Items]
Useful life	17 years
Royalty agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years
Minimum \| Customer lists
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years
Minimum \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful life	8 years
Minimum \| Distribution agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	3 years
Minimum \| License agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	4 years
Minimum \| Covenant not to compete
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years
Maximum \| Customer lists
Finite-Lived Intangible Assets [Line Items]
Useful life	14 years
Maximum \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Maximum \| Distribution agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	12 years
Maximum \| License agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Maximum \| Covenant not to compete
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years

Organization and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment of PPE	$ 0	$ 0	$ 0
Property, Plant and Equipment [Line Items]
Depreciation	$ 24,500,000	$ 22,600,000	$ 21,000,000
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 ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash surrender value of life insurance	$ 9,900	$ 8,800
Deferred compensation cost	$ 9,211	$ 8,500

Organization and Summary of Significant Accounting Policies - Stock Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allocated share-based compensation	$ 2,506	$ 2,243	$ 1,460

Organization and Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Customer concentration risk \| Sales
Product Information [Line Items]
Concentration for largest customer	3.00%	3.00%	3.00%

Organization and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated other comprehensive income (loss), interest rate swaps, net of tax	$ 2,924	$ 1
Accumulated other comprehensive income (loss), interest rate swap, tax benefit	(1,862)	(1)
Accumulated other comprehensive income (loss) related to foreign currency translation, net of tax	(4,800)	(5,500)
Accumulated other comprehensive income (loss), foreign currency translation, tax benefit	$ 318	$ 513

Acquisitions - Narrative (Details) € in Thousands															1 Months Ended		3 Months Ended	12 Months Ended
Acquisitions - Narrative (Details) € in Thousands	Dec. 19, 2016 USD ($) shares	Jul. 06, 2016 USD ($)	Feb. 04, 2016 USD ($)	Dec. 04, 2015 USD ($)	Sep. 29, 2015 USD ($)	Jul. 17, 2015	Jul. 14, 2015 USD ($)	Jul. 01, 2015 USD ($)	Mar. 26, 2015 USD ($)	Nov. 25, 2014 EUR (€)	Aug. 08, 2014 USD ($)	Jul. 15, 2014 USD ($)	May 08, 2014 USD ($) shares	Aug. 21, 2012	Jan. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2016 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Aug. 19, 2015 USD ($) shares
Business Acquisition [Line Items]
Payments to acquire intangible assets																		$ 2,217,000	$ 1,956,000	$ 1,714,000
Goodwill acquired																		27,373,000	60,000
Acquired in-process research and development																		461,000	1,000,000	0
Cash paid in acquisitions, net of cash acquired																		125,161,000	12,368,000	5,927,000
DFINE, Inc.
Business Acquisition [Line Items]
Consideration paid		$ 97,500,000
Consideration paid related to net working capital adjustment		578,000
Reduction of purchase price																	$ 1,100,000
Measurement period adjustment, reduction in inventories																	89,000
Measurement period adjustment, reduction in property and equipment																	109,000
Measurement period adjustment, reduction in goodwill																	1,200,000
Measurement period adjustment, reduction in accrued expenses																	407,000
Measurement period adjustment, increase in deferred tax liabilities																	(113,000)
Net sales related to acquisition																		13,500,000
Trade receivables acquired, gross		4,300,000
Trade receivables, expected to be uncollectible		$ 224,000
Weighted average useful life		14 years 10 months
HeRO®Graft
Business Acquisition [Line Items]
Consideration paid			$ 18,500,000
Weighted average useful life			9 years 9 months 25 days
Income since acquisition date																		7,100,000
Xablecath Inc.
Business Acquisition [Line Items]
Number of units acquired \| shares																					116,279
Percent owned																					14.00%
Cost method investment																					$ 300,000
Quellent, LLC
Business Acquisition [Line Items]
Consideration paid							$ 1,000,000
Payments to acquire intangible assets																		500,000
Accrued purchase obligation																		500,000
Noncurrent contingent consideration																	270,000	270,000
Goodwill acquired																		60,000
Limited Liability Company
Business Acquisition [Line Items]
Payments to acquire investment												$ 752,000
GMedix
Business Acquisition [Line Items]
Payments to acquire investment													$ 1,800,000
Number of units acquired \| shares													737,628
Percent owned													19.00%
Cash paid in acquisitions, net of cash acquired																			1,450,000	$ 350,000
License agreements
Business Acquisition [Line Items]
Intangible Assets																	17,273,000	17,273,000	16,671,000
License agreements \| Limited Liability Company
Business Acquisition [Line Items]
Useful life												10 years
Developed technology
Business Acquisition [Line Items]
Intangible Assets																	135,358,000	135,358,000	69,861,000
Developed technology \| DFINE, Inc.
Business Acquisition [Line Items]
Useful life		15 years
Developed technology \| HeRO®Graft
Business Acquisition [Line Items]
Useful life			10 years
Developed technology \| Quellent, LLC
Business Acquisition [Line Items]
Intangible Assets																	1,210,000	1,210,000
Useful life							13 years
Customer Lists
Business Acquisition [Line Items]
Intangible Assets																	6,860,000	6,860,000	5,770,000
Customer Lists \| DFINE, Inc.
Business Acquisition [Line Items]
Useful life		9 years
Customer Lists \| HeRO®Graft
Business Acquisition [Line Items]
Useful life			12 years
Distribution agreements
Business Acquisition [Line Items]
Intangible Assets																	3,099,000	3,099,000	2,773,000
Trademarks
Business Acquisition [Line Items]
Intangible Assets																	9,050,000	9,050,000	4,705,000
Trademarks \| DFINE, Inc.
Business Acquisition [Line Items]
Useful life		15 years
Trademarks \| HeRO®Graft
Business Acquisition [Line Items]
Useful life			5 years 6 months
Medical Company 1 \| License agreements
Business Acquisition [Line Items]
Useful life				12 years
Payments to acquire intangible assets				$ 500,000
Medical Company 1 \| Additional Payments for License Agreement Milestone \| License agreements
Business Acquisition [Line Items]
Payments to acquire intangible assets																		1,500,000
Blockade Medical LLC
Business Acquisition [Line Items]
License agreements																	2,700,000	2,700,000
Blockade Medical LLC \| License agreements
Business Acquisition [Line Items]
Useful life					10 years
LeMaitre Vascular, Inc. \| Developed technology
Business Acquisition [Line Items]
Useful life						10 years
Payments to acquire intangible assets																		400,000
Catch Medical, LLC
Business Acquisition [Line Items]
Payments to acquire intangible assets																		400,000
Accrued purchase obligation																		200,000
Acquired in-process research and development								$ 1,000,000
Long term purchase obligations																		400,000
Distal Access, LLC \| License agreements
Business Acquisition [Line Items]
Intangible Assets								$ 3,500,000
Useful life								6 years
Payments to acquire intangible assets																		3,500,000
Teleflex Incorporated
Business Acquisition [Line Items]
Future payments under agreement									$ 400,000
Teleflex Incorporated \| Customer Lists
Business Acquisition [Line Items]
Useful life									5 years
Payments to acquire intangible assets																		400,000
Catheter Connections, Inc. \| Distribution agreements
Business Acquisition [Line Items]
Useful life														10 years
Payments to acquire intangible assets															$ 250,000
Medical Company 2
Business Acquisition [Line Items]
Payments to acquire intangible assets																$ 624,800		1,100,000
Contingent liability \| €										€ 500
Medical Company 2 \| License agreements
Business Acquisition [Line Items]
Useful life										10 years
Medical Company 3
Business Acquisition [Line Items]
Payments to acquire intangible assets																		3,500,000	$ 3,000,000
Liabilities incurred																	$ 1,000,000	1,000,000
Medical Company 3 \| License agreements
Business Acquisition [Line Items]
Useful life											12 years
Intangible assets											$ 6,300,000
Medical Company 3 \| Distribution agreements
Business Acquisition [Line Items]
Useful life											3 years
Intangible assets											$ 200,000
Cost-method Investments \| Blockade Medical LLC
Business Acquisition [Line Items]
Consideration paid related to net working capital adjustment					$ 1,000,000
Loans Receivable \| Blockade Medical LLC
Business Acquisition [Line Items]
Consideration paid related to net working capital adjustment					$ 1,700,000
Cardiovascular Segment \| DFINE, Inc.
Business Acquisition [Line Items]
Acquisition-related costs																		1,600,000
Investee \| Bluegrass Vascular Technologies, Inc.
Business Acquisition [Line Items]
Payments to acquire investment	$ 5,000,000
Number of units acquired \| shares	1,251,878
Percent owned	19.50%
Cost method investment	$ 4,000,000
Investee \| Bluegrass Vascular Technologies, Inc. \| Distribution agreements
Business Acquisition [Line Items]
Intangible Assets	$ 1,000,000
Useful life	3 years
Limited Liability Company \| Cagent Vascular, LLC
Business Acquisition [Line Items]
Payments to acquire investment																		$ 3,000,000
Number of units acquired \| shares																	2,965,000	2,965,000
Percent owned																	19.94656%	19.94656%

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Feb. 04, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets Acquired
Goodwill	$ 211,927		$ 184,472	$ 184,464
HeRO®Graft
Assets Acquired
Inventories		$ 2,455
Property and equipment		290
Goodwill		2,555
Total assets acquired		18,500
DFINE, Inc.
Assets Acquired
Trade receivables	4,054
Other receivables	6
Inventories	8,585
Prepaid expenses	630
Property and equipment	1,630
Other long-term assets	145
Goodwill	24,818
Total assets acquired	114,268
Liabilities Assumed
Trade payables	(1,790)
Accrued expenses	(5,298)
Deferred income tax liabilities - current	(701)
Deferred income tax liabilities - noncurrent	(10,844)
Total liabilities assumed	(18,633)
Net assets acquired, net of cash received of $1,327	95,635
Cash received	1,327
Developed technology \| HeRO®Graft
Assets Acquired
Intangibles		12,100
Developed technology \| DFINE, Inc.
Assets Acquired
Intangibles	67,600
Customer lists \| HeRO®Graft
Assets Acquired
Intangibles		400
Customer lists \| DFINE, Inc.
Assets Acquired
Intangibles	2,400
Trademarks \| HeRO®Graft
Assets Acquired
Intangibles		$ 700
Trademarks \| DFINE, Inc.
Assets Acquired
Intangibles	$ 4,400

Acquisitions - Summary of Unaudited Consolidated Results of Operations, Including Proforma Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
As Reported
Net Sales	$ 157,715	$ 156,975	$ 151,071	$ 138,077	$ 138,404	$ 136,086	$ 138,082	$ 129,577	$ 603,838	$ 542,149	$ 509,689
Net income	$ 7,507	$ 973	$ 7,290	$ 4,351	$ 6,409	$ 4,818	$ 7,401	$ 5,174	$ 20,121	$ 23,802	$ 22,974
Basic (in dollars per share)	$ 0.17	$ 0.02	$ 0.16	$ 0.10	$ 0.14	$ 0.11	$ 0.17	$ 0.12	$ 0.45	$ 0.54	$ 0.53
Diluted (in dollars per share)	$ 0.17	$ 0.02	$ 0.16	$ 0.10	$ 0.14	$ 0.11	$ 0.17	$ 0.12	$ 0.45	$ 0.53	$ 0.53
Pro Forma
Net Sales, Pro Forma									$ 621,463	$ 575,541
Net Income, Pro Forma									$ 9,825	$ 3,135
Basic, Pro Forma (in dollars per share)									$ 0.22	$ 0.07
Diluted, Pro Forma (in dollars per share)									$ 0.22	$ 0.07

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 63,852	$ 59,170
Work-in-process	11,008	8,540
Raw materials	45,835	38,289
Total	$ 120,695	$ 105,999

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Goodwill balance at January 1	$ 184,472	$ 184,464
Effect of foreign exchange	82	(52)
Additions as the result of acquisitions	27,373	60
Goodwill balance at December 31	$ 211,927	$ 184,472

Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 77,387	$ 66,096
Accumulated Amortization	(30,048)	(26,603)
Net Carrying Amount	47,339	39,493
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	14,130	12,014
Accumulated Amortization	(3,165)	(2,595)
Net Carrying Amount	10,965	9,419
Distribution agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,626	5,626
Accumulated Amortization	(3,527)	(2,853)
Net Carrying Amount	3,099	2,773
License agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	20,695	19,109
Accumulated Amortization	(3,422)	(2,438)
Net Carrying Amount	17,273	16,671
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,380	7,259
Accumulated Amortization	(3,330)	(2,554)
Net Carrying Amount	9,050	4,705
Covenants not to compete
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,028	1,028
Accumulated Amortization	(936)	(873)
Net Carrying Amount	92	155
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22,261	20,793
Accumulated Amortization	(15,401)	(15,023)
Net Carrying Amount	6,860	5,770
Royalty agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	267	267
Accumulated Amortization	(267)	(267)
Net Carrying Amount	$ 0	$ 0

Goodwill and Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2016	$ 21,800
2017	21,229
2018	20,826
2019	19,732
2020	$ 13,296

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Accumulated impairment loss		$ 8,300
Aggregate amortization expense		19,300	$ 14,800	$ 14,900
Intangible asset impairment charges		$ 0	$ 0	$ 1,102
Ostial Solutions, LLC
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairment charges	$ 1,100
Contingent consideration benefit	$ 900

Income Taxes - Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Domestic									$ 6,174	$ 9,470	$ 16,961
Foreign									19,212	21,730	14,611
INCOME BEFORE INCOME TAXES	$ 12,602	$ 2,987	$ 11,581	$ 7,706	$ 8,050	$ 8,547	$ 12,242	$ 8,704	$ 25,386	$ 31,200	$ 31,572

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current expense (benefit):
Federal									$ 1,933	$ (17)	$ 1,316
State									492	747	768
Foreign									3,802	3,218	2,644
Total current expense									6,227	3,948	4,728
Deferred expense (benefit):
Federal									(144)	3,250	4,078
State									(195)	294	(119)
Foreign									(623)	(94)	(89)
Total deferred (benefit) expense									(962)	3,450	3,870
Total income tax expense	$ 2,116	$ (978)	$ 2,572	$ 1,555	$ 145	$ 1,842	$ 3,122	$ 2,289	$ 5,265	$ 7,398	$ 8,598

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Computed federal income tax expense at statutory rate of 35%									$ 8,885	$ 10,920	$ 11,050
State income taxes									193	698	438
Tax credits									(1,164)	(1,019)	(888)
Production activity deduction									(53)	0	0
Foreign tax rate differential									(3,717)	(3,564)	(1,958)
Uncertain tax positions									597	536	(76)
Deferred compensation insurance assets									(307)	182	(81)
Transaction-related expenses									274	0	0
Other — including the effect of graduated rates									557	(355)	113
Total income tax expense	$ 2,116	$ (978)	$ 2,572	$ 1,555	$ 145	$ 1,842	$ 3,122	$ 2,289	$ 5,265	$ 7,398	$ 8,598

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred income tax assets:
Allowance for uncollectible accounts receivable	$ 645	$ 531
Accrued compensation expense	6,203	5,534
Inventory differences	1,065	2,043
Net operating loss carryforwards	27,742	11,434
Deferred revenue	73	118
Stock-based compensation expense	2,738	2,532
Federal research and development credit carryforward	3,524	2,355
Foreign tax credits	364	600
Other	6,984	5,754
Total deferred income tax assets	49,338	30,901
Deferred income tax liabilities:
Prepaid expenses	(782)	(841)
Property and equipment	(25,108)	(24,467)
Intangible assets	(35,773)	(6,495)
Other	(1,480)	(1,077)
Total deferred income tax liabilities	(63,143)	(32,880)
Valuation allowance	(3,786)	(1,981)
Net deferred income tax liabilities	(17,591)	(3,960)
Reported as:
Deferred income tax assets - Current	8,219	7,025
Deferred income tax assets - Long-term	171	0
Deferred income tax liabilities - Current	0	0
Deferred income tax liabilities - Long-term	(25,981)	(10,985)
Net deferred income tax liabilities	$ (17,591)	$ (3,960)

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Federal statutory rate	35.00%	35.00%	35.00%
Increase in valuation allowance	$ 1,805,000	$ 378,000	$ 240,000
U.S federal net operating loss carryforwards	$ 76,400,000	32,700,000
Period to utilize the net operating loss carryforwards	19 years
NOL carryforward used in period	$ 6,200,000	6,000,000
Foreign operating loss carryforwards	3,000,000	0
Unrecognized tax benefts including interest and penalties	2,800,000	2,200,000
Unrecognized tax benefits that would impact effective rate	2,800,000	2,200,000
Reduction in valuation allowance	2,300,000	1,401,000
Accrued interest and penalties	216,000	187,000
Income tax penalties and interest expense	30,000	$ 6,000	$ 42,000
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Estimated change in unrecognized tax benefit in next twelve months, lower bound	$ 500,000

Income Taxes - Summary of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, opening balance	$ 1,982	$ 1,736	$ 2,129
Gross increases in tax positions taken in a prior year	77	187	142
Gross increases in tax positions taken in the current year	856	763	309
Lapse of applicable statute of limitations	(366)	(704)	(844)
Unrecognized tax benefits, ending balance	$ 2,549	$ 1,982	$ 1,736

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Payroll taxes	$ 2,406	$ 2,369
Payroll	7,733	4,971
Bonuses	4,470	5,283
Commissions	974	790
Vacation	8,846	7,748
Royalties	1,806	1,499
Value-added tax	2,046	1,797
Other accrued expenses	16,666	13,389
Total	$ 44,947	$ 37,846

Revolving Credit Facility and Long-Term Debt - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($) quarter	Jul. 06, 2016 USD ($)	Dec. 31, 2015 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings	$ (325,000)
Number of consecutive quarters for EBITDA to fixed charges ratio covenants \| quarter	4,000
Credit Agreement
Line of Credit Facility [Line Items]
Outstanding borrowings	$ (325,000)
Maximum facility capital expenditures in the next 12 months	30,000
Remaining borrowing capacity on line of credit	95,000
Fixed interest rate percent			2.4825%
Debt subject to fixed interest rate	$ 130,000		$ 135,000
Variable Rate 1 \| Credit Agreement
Line of Credit Facility [Line Items]
Variable interest rate percent	2.77%		1.74%
Debt subject to variable interest rate	$ 150,000		$ 65,800
Variable Rate 2 \| Credit Agreement
Line of Credit Facility [Line Items]
Variable interest rate percent			2.12%
Debt subject to variable interest rate			$ 6,800
Revolving Credit Facility \| Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 275,000
Interest rate increase if in event of default	2.00%
Term Loan \| Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument, face amount		150,000
Bridge Loan \| Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 25,000
Interest Rate Swap 1 \| Credit Agreement
Line of Credit Facility [Line Items]
Fixed interest rate percent	3.115%
Debt subject to fixed interest rate	$ 45,000
Interest Rate Swap 2 \| Credit Agreement
Line of Credit Facility [Line Items]
Fixed interest rate percent	2.9825%
Minimum \| Revolving Credit Facility \| Credit Agreement
Line of Credit Facility [Line Items]
Commitment fee percentage	0.15%
Maximum \| Revolving Credit Facility \| Credit Agreement
Line of Credit Facility [Line Items]
Commitment fee percentage	0.40%

Revolving Credit Facility and Long-Term Debt - Principal Balances under Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Total long-term debt	$ 324,373	$ 207,593
Less debt issuance costs	(627)	0
Less current portion	10,000	10,000
Long-term portion	314,373	197,593
Term Loan
Line of Credit Facility [Line Items]
Total long-term debt	145,000	64,962
Revolving Credit Facility
Line of Credit Facility [Line Items]
Total long-term debt	$ 180,000	$ 142,631

Revolving Credit Facility and Long-Term Debt - Financial Covenants (Details)	12 Months Ended
	Dec. 31, 2016 USD ($) quarter
Debt Instrument [Line Items]
Number of consecutive quarters for EBITDA to fixed charges ratio covenants \| quarter	4,000
Credit Agreement
Debt Instrument [Line Items]
Consolidated EBITDA	$ 1,250
Consolidated Net Income	0
Facility Capital Expenditures	$ 30,000,000
Through March 31, 2017 [Member] \| Credit Agreement
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	4,500.0
April 1, 2017 through June 30, 2017 [Member] \| Credit Agreement
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	4,000
July 1, 2017 through December 31, 2017 [Member] \| Credit Agreement
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	3,750.00
January 1, 2018 through March 31, 2018 [Member] \| Credit Agreement
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	3,500.0
April 1, 2018 and thereafter [Member] \| Credit Agreement
Debt Instrument [Line Items]
Consolidated Total Leverage Ratio	3,250.00

Revolving Credit Facility and Long-Term Debt - Future Minimum Payments on Long-term Debt (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Debt Disclosure [Abstract]
2017	$ 10,000
2018	12,500
2019	15,000
2020	17,500
2021	270,000
Total long-term debt	$ 325,000

Derivatives - Narrative (Details) - USD ($)		12 Months Ended
Derivatives - Narrative (Details) - USD ($)	Dec. 19, 2012	Dec. 31, 2016	Aug. 05, 2016	Dec. 31, 2015
Derivative [Line Items]
Accumulated other comprehensive income (loss), interest rate swap, tax benefit		$ (1,862,000)		$ (1,000)
Revenue and cost of sales
Derivative [Line Items]
Amount expected to be reclassified from accumulated other comprehensive income to earnings in next twelve months, gross		205,000
Amount expected to be reclassified from accumulated other comprehensive income to earnings in next twelve months, net of tax		125,000
Interest expense
Derivative [Line Items]
Amount expected to be reclassified from accumulated other comprehensive income to earnings in next twelve months, gross		91,000
Amount expected to be reclassified from accumulated other comprehensive income to earnings in next twelve months, net of tax		56,000
Interest rate swap
Derivative [Line Items]
Notional amount of derivative	$ 150,000,000		$ 42,500,000
Fixed rate	0.9825%		1.12%
Quarterly reduction of notional amount	50.00%
Accumulated other comprehensive income (loss), interest rate swap, tax benefit		$ (1,941,000)
Interest rate swap \| Maximum
Derivative [Line Items]
Notional amount of derivative			$ 175,000,000

Derivatives - Forward Notional Contracts (Details) - Dec. 31, 2016 - Foreign currency forward contracts € in Thousands, ¥ in Thousands, £ in Thousands, SFr in Thousands, SEK in Thousands, MXN in Thousands, HKD in Thousands, DKK in Thousands, CAD in Thousands, BRL in Thousands, AUD in Thousands	EUR (€)	CNY (¥)	DKK	MXN	CHF (SFr)	CAD	GBP (£)	HKD	SEK	BRL	AUD
Not designated as hedging instrument
Derivative [Line Items]
Notional amount of derivative	€ 20,657	¥ 16,615		MXN 19,125	SFr 230	CAD 4,320	£ 975	HKD 11,000	SEK 3,035	BRL 5,100	AUD 4,150
Derivatives designated as cash flow hedges \| Designated as hedging instrument
Derivative [Line Items]
Notional amount of derivative	€ 11,065		DKK 8,795	MXN 76,525	SFr 1,303		£ 3,115		SEK 13,165

Derivatives - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Designated as hedging instrument \| Interest rate swap \| Other Assets (long-term)
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	$ 4,991	$ 2
Designated as hedging instrument \| Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Total Asset Derivatives		0
Total Liability Derivatives		0
Designated as hedging instrument \| Foreign currency forward contracts \| Other Assets (long-term)
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	18
Designated as hedging instrument \| Foreign currency forward contracts \| Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	116
Designated as hedging instrument \| Foreign currency forward contracts \| Accrued Expenses
Derivatives, Fair Value [Line Items]
Total Liability Derivatives	(275)
Designated as hedging instrument \| Foreign currency forward contracts \| Other Long-term Obligations
Derivatives, Fair Value [Line Items]
Total Liability Derivatives	(18)
Not designated as hedging instrument \| Foreign currency forward contracts \| Prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	220
Not designated as hedging instrument \| Foreign currency forward contracts \| Accrued Expenses
Derivatives, Fair Value [Line Items]
Total Liability Derivatives	$ (171)	(278)
Not designated as hedging instrument \| Foreign currency forward contracts \| Other receivables
Derivatives, Fair Value [Line Items]
Total Asset Derivatives		$ 115

Derivatives - Amount of Gain (Loss) Recognized in OCI and Income Statement (Details) - Derivatives designated as cash flow hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) recognized in OCI	$ 4,989	$ (571)	$ (630)
Interest rate swap \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) reclassified from AOCI	718	1,103	587
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) recognized in OCI		0	0
Foreign currency forward contracts \| Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) recognized in OCI	68
Amount of Gain/(Loss) reclassified from AOCI	21	0	0
Foreign currency forward contracts \| Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) recognized in OCI	(273)
Amount of Gain/(Loss) reclassified from AOCI	$ (26)	$ 0	$ 0

Derivatives - Gain (Loss) in the Consolidated Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Not designated as hedging instrument \| Foreign currency forward contracts \| Other expense
Derivative [Line Items]
Gain (loss) on derivative	$ 69	$ (302)	$ 8

Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2016	$ 10,168
2017	9,062
2018	8,161
2019	5,100
2020	4,704
Thereafter	32,736
Total minimum lease payments	$ 69,931

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Commitments [Line Items]
Rent expense	$ 11,400	$ 10,700	$ 8,100
Proceeds from sale-leaseback transactions	0	$ 2,017	5,521
Term of lease		7 years
Deferred credits	2,500	$ 2,700
Property, plant, and equipment grants from Ireland	170	$ 171	$ 175
Irish grants refundable if operations discontinued	$ 3,700
Remaining grant liability period	2 years
Minimum
Other Commitments [Line Items]
Grant period	5 years
Maximum
Other Commitments [Line Items]
Grant period	8 years

Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Basic and Diluted [Abstract]
Net income, basic									$ 20,121	$ 23,802	$ 22,974
Basic (in shares)									44,408	44,036	43,143
Basic (in dollars per share)	$ 0.17	$ 0.02	$ 0.16	$ 0.10	$ 0.14	$ 0.11	$ 0.17	$ 0.12	$ 0.45	$ 0.54	$ 0.53
Effect of dilutive stock options and warrants (in shares)									454	475	266
Net income, diluted									$ 20,121	$ 23,802	$ 22,974
Diluted (in shares)									44,862	44,511	43,409
Diluted (in dollars per share)	$ 0.17	$ 0.02	$ 0.16	$ 0.10	$ 0.14	$ 0.11	$ 0.17	$ 0.12	$ 0.45	$ 0.53	$ 0.53
Antidilutive securities excluded from EPS (in shares)									727	423	1,292

Employee Stock Purchase Plan Stock Options and Warrants - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized	$ 7.9
Compensation cost not yet recognized, period of recognition	3 years 5 months 12 days
Options granted in period (in shares)	880	618	666
Fair value of options, net of forfeitures	$ 5.2	$ 3.7	$ 2.8
Options granted in period, weighted average grant date fair value (in dollars per share)	$ 5.94	$ 5.98	$ 4.27
2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	1,700
Employee Stock Purchase Plan Qualified
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	151
Purchase price for ESPP, percent of market price	95.00%
Stock Options \| 2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option contractual life	7 years
Stock Options \| Minimum \| 2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock Options \| Maximum \| 2006 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 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 ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	$ 2,506	$ 2,243	$ 1,460
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	472	398	198
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	184	122	69
Selling, general, and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation	$ 1,850	$ 1,723	$ 1,193

Employee Stock Purchase Plan Stock Options and Warrants - Fair Value Calculation Assumptions (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	1.15%	1.53%	1.53%
Risk-free interest rate, maximum	1.40%	1.66%	1.97%
Expected option life	5 years
Expected dividend yield	0.00%	0.00%	0.00%
Expected price volatility, minimum	34.28%	33.72%	34.52%
Expected price volatility, maximum	37.06%	35.11%	36.90%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life		5 years	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life			5 years 6 months

Employee Stock Purchase Plan Stock Options and Warrants - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of stock options exercised	$ 3,648	$ 7,548	$ 3,505
Cash received from stock option exercises	4,577	6,227	7,697
Excess tax benefit from the exercise of stock options	$ 669	$ 2,124	$ 576
Number of Shares
Beginning balance (in shares)	2,408
Granted (in shares)	880
Exercised (in shares)	(362)
Forfeited/expired (in shares)	(109)
Outstanding at December 31 (in shares)	2,817	2,408
Exercisable (in shares)				1,033
Ending vested and expected to vest (in shares)				2,718
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 15.32	$ 14.26		$ 15.32
Granted (in dollars per share)	17.43
Exercised (in dollars per share)	13.61
Forfeited/expired (in dollars per share)	14.52
Outstanding at December 31 (in dollars per share)	$ 15.32	$ 14.26
Exercisable (in dollars per share)				13.64
Ending vested and expected to vest (in dollars per share)				$ 15.27
Outstanding, remaining contractual term	4 years 5 months 10 days
Exercisable, remaining contractual term	2 years 8 months 8 days
Ending vested and expected to vest, remaining contractual term	4 years 4 months 25 days
Outstanding, intrinsic value				$ 31,476
Exercisable, intrinsic value				13,274
Ending vested and expected to vest, intrinsic value				$ 30,512

Employee Stock Purchase Plan Stock Options and Warrants - Options Outstanding (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2016 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise, lower (in dollars per share)	$ 9.95
Range of exercise, upper (in dollars per share)	$ 22
Number outstanding (in shares) \| shares	2,817
Number exercisable (in shares) \| shares	1,033
$9.95 - $13.16
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise, lower (in dollars per share)	$ 9.95
Range of exercise, upper (in dollars per share)	$ 13.16
Number outstanding (in shares) \| shares	772
Weighted Average Remaining Contractual Life (in years)	3 years 8 months 12 days
Weighted average exercise price (in dollars per share)	$ 12.11
Number exercisable (in shares) \| shares	393
Weighted average exercise price (in dollars per share)	$ 12.23
$13.75 - $16.05
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise, lower (in dollars per share)	13.75
Range of exercise, upper (in dollars per share)	$ 16.05
Number outstanding (in shares) \| shares	1,181
Weighted Average Remaining Contractual Life (in years)	4 years 8 days
Weighted average exercise price (in dollars per share)	$ 14.84
Number exercisable (in shares) \| shares	533
Weighted average exercise price (in dollars per share)	$ 13.77
$16.41 - $20.27
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise, lower (in dollars per share)	16.41
Range of exercise, upper (in dollars per share)	$ 20.27
Number outstanding (in shares) \| shares	747
Weighted Average Remaining Contractual Life (in years)	5 years 6 months 14 days
Weighted average exercise price (in dollars per share)	$ 18.35
Number exercisable (in shares) \| shares	103
Weighted average exercise price (in dollars per share)	$ 18.06
$21.71 - $22.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise, lower (in dollars per share)	21.71
Range of exercise, upper (in dollars per share)	$ 22.00
Number outstanding (in shares) \| shares	117
Weighted Average Remaining Contractual Life (in years)	6 years 6 months 14 days
Weighted average exercise price (in dollars per share)	$ 21.94
Number exercisable (in shares) \| shares	4
Weighted average exercise price (in dollars per share)	$ 21.98

Segment Reporting and Foreign Operations - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($) segment	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment	2
Segment Reporting Information [Line Items]
Foreign sales as a percent of total sales	39.00%	39.00%	39.00%
Foreign Sales
Segment Reporting Information [Line Items]
Revenue	$ 233.5	$ 214.0	$ 198.3
Foreign sales	$ 59.9	$ 50.7	$ 40.7

Segment Reporting and Foreign Operations - Sales by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue from External Customer [Line Items]
% Change	11.00%				6.00%				11.00%	6.00%	14.00%
Net Sales	$ 157,715	$ 156,975	$ 151,071	$ 138,077	$ 138,404	$ 136,086	$ 138,082	$ 129,577	$ 603,838	$ 542,149	$ 509,689
Cardiovascular Segment
Revenue from External Customer [Line Items]
% Change	11.00%				6.00%				11.00%	6.00%	14.00%
Net Sales									$ 580,248	$ 520,915	$ 491,706
Cardiovascular Segment \| Stand Alone Devices
Revenue from External Customer [Line Items]
% Change	25.00%				8.00%				25.00%	8.00%	15.00%
Net Sales									$ 193,517	$ 155,414	$ 143,712
Cardiovascular Segment \| Custom Kit And Procedures Trays
Revenue from External Customer [Line Items]
% Change	3.00%				5.00%				3.00%	5.00%	7.00%
Net Sales									$ 119,392	$ 116,368	$ 111,076
Cardiovascular Segment \| Inflation Devices
Revenue from External Customer [Line Items]
% Change	1.00%				1.00%				1.00%	1.00%	10.00%
Net Sales									$ 73,919	$ 73,373	$ 72,538
Cardiovascular Segment \| Catheters
Revenue from External Customer [Line Items]
% Change	15.00%				11.00%				15.00%	11.00%	17.00%
Net Sales									$ 110,939	$ 96,833	$ 87,550
Cardiovascular Segment \| Embolization Devices
Revenue from External Customer [Line Items]
% Change	2.00%				3.00%				2.00%	3.00%	31.00%
Net Sales									$ 46,035	$ 45,025	$ 43,855
Cardiovascular Segment \| Electrophysiology
Revenue from External Customer [Line Items]
% Change	8.00%				3.00%				8.00%	3.00%	17.00%
Net Sales									$ 36,446	$ 33,902	$ 32,975
Endoscopy Segment
Revenue from External Customer [Line Items]
Net Sales									$ 23,590	$ 21,234	$ 17,983
Endoscopy Segment \| Endoscopy Devices
Revenue from External Customer [Line Items]
% Change	11.00%				18.00%				11.00%	18.00%	6.00%
Net Sales									$ 23,590	$ 21,234	$ 17,983

Segment Reporting and Foreign Operations - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 276,573	$ 267,778	$ 244,171
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	194,715	186,389	177,627
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	47,337	48,896	49,708
Other Foreign Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 34,521	$ 32,493	$ 16,836

Segment Reporting and Foreign Operations - Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net Sales	$ 157,715	$ 156,975	$ 151,071	$ 138,077	$ 138,404	$ 136,086	$ 138,082	$ 129,577	$ 603,838	$ 542,149	$ 509,689
Operating expenses									230,149	198,238	185,056
Operating income (loss)									34,876	37,543	40,166
Total other expense - net									(9,490)	(6,343)	(8,594)
Income tax expense	2,116	(978)	2,572	1,555	145	1,842	3,122	2,289	5,265	7,398	8,598
NET INCOME	$ 7,507	$ 973	$ 7,290	$ 4,351	$ 6,409	$ 4,818	$ 7,401	$ 5,174	20,121	23,802	22,974
Cardiovascular Segment
Segment Reporting Information [Line Items]
Net Sales									580,248	520,915	491,706
Operating expenses									218,659	187,492	175,152
Operating income (loss)									30,120	34,052	38,601
Endoscopy Segment
Segment Reporting Information [Line Items]
Net Sales									23,590	21,234	17,983
Operating expenses									11,490	10,746	9,904
Operating income (loss)									$ 4,756	$ 3,491	$ 1,565

Segment Reporting and Foreign Operations - Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 942,803	$ 778,728	$ 747,165
Depreciation and amortization	43,755	37,425	35,929
Capital expenditures	32,837	50,959	34,181
Cardiovascular Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	932,927	767,952	734,940
Depreciation and amortization	42,806	36,474	34,975
Capital expenditures	32,613	50,927	33,660
Endoscopy Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	9,876	10,776	12,225
Depreciation and amortization	949	951	954
Capital expenditures	$ 224	$ 32	$ 521

Royalty Agreements - Narrative (Details) - BioSphere APHP Royalty - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Royalty Agreements [Line Items]
Current royalty rate	5.00%
Future royalty rate	2.50%
Royalty expense	$ 1.8	$ 1.5	$ 1.5

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plan Disclosure [Line Items]
Minimum age for participation	18 years
Minimum time at the company for participation	90 days
Total paid into 401(k)	$ 2,300	$ 2,000	$ 1,800
Non-US
Defined Contribution Plan Disclosure [Line Items]
Total paid into 401(k)	$ 1,134	$ 893	$ 912
Minimum \| Non-US
Defined Contribution Plan Disclosure [Line Items]
Employer matching, percent of gross pay	2.00%
Maximum \| Non-US
Defined Contribution Plan Disclosure [Line Items]
Employer matching, percent of gross pay	31.50%
Management \| Minimum \| Non-US
Defined Contribution Plan Disclosure [Line Items]
Employer matching, percent of gross pay	2.00%
Management \| Maximum \| Non-US
Defined Contribution Plan Disclosure [Line Items]
Employer matching, percent of gross pay	32.00%

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 157,715	$ 156,975	$ 151,071	$ 138,077	$ 138,404	$ 136,086	$ 138,082	$ 129,577	$ 603,838	$ 542,149	$ 509,689
Gross profit	70,256	67,815	66,854	60,100	60,307	59,205	60,886	55,383	265,025	235,781	225,222
Income from operations	12,602	2,987	11,581	7,706	8,050	8,547	12,242	8,704	25,386	31,200	31,572
Income tax expense	2,116	(978)	2,572	1,555	145	1,842	3,122	2,289	5,265	7,398	8,598
Net income	$ 7,507	$ 973	$ 7,290	$ 4,351	$ 6,409	$ 4,818	$ 7,401	$ 5,174	$ 20,121	$ 23,802	$ 22,974
Basic (in dollars per share)	$ 0.17	$ 0.02	$ 0.16	$ 0.10	$ 0.14	$ 0.11	$ 0.17	$ 0.12	$ 0.45	$ 0.54	$ 0.53
Diluted (in dollars per share)	$ 0.17	$ 0.02	$ 0.16	$ 0.10	$ 0.14	$ 0.11	$ 0.17	$ 0.12	$ 0.45	$ 0.53	$ 0.53

Fair Value Measurements - Financial Assets and (Liabilities) Carried at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate contracts	$ 0	$ 0
Foreign currency contract liabilities, current and long-term	0
Foreign currency contract liabilities, current and long-term	0
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value		0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate contracts	4,991	2
Foreign currency contract liabilities, current and long-term	(354)
Foreign currency contract liabilities, current and long-term	(464)
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value		(278)
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate contracts	0	0
Foreign currency contract liabilities, current and long-term	0
Foreign currency contract liabilities, current and long-term	0
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value		0
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate contracts	4,991	2
Foreign currency contract liabilities, current and long-term	(354)
Foreign currency contract liabilities, current and long-term	$ (464)
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value		$ (278)

Fair Value Measurements - Liability Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Contingent Consideration - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,024	$ 1,886
Contingent consideration liability recorded as the result of acquisitions	0	270
Fair value adjustments recorded to income during the period	(123)	80
Contingent payments made	(218)	(1,212)
Ending balance	$ 683	$ 1,024

Fair Value Measurements - Fair Value Inputs, Liabilities, Quantitative Information (Details) - Contingent Consideration - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration liability	$ 683,000	$ 1,024,000	$ 1,886,000
Revenue-based Payments
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration liability	$ 683,000	$ 874,000
Revenue-based Payments \| Discounted Cash Flow \| Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Probability of milestone payment	100.00%	100.00%
Revenue-based Payments \| Minimum \| Discounted Cash Flow \| Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Discount rate	10.00%	5.00%
Revenue-based Payments \| Maximum \| Discounted Cash Flow \| Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Discount rate	15.00%	15.00%
Other Payments
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration liability		$ 150,000
Contingent consideration asset	$ 528,000
Other Payments \| Discounted Cash Flow \| Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Probability of milestone payment	57.00%	100.00%
Discount rate	10.00%	0.00%

Fair Value Measurements - Narrative (Details) - USD ($)	12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of other assets	$ 101,000	$ 100,000	$ 1,400,000
Other Long-term Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	595,000	775,000
Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	88,000	200,000
Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent receivable asset	683,000	1,024,000	$ 1,886,000
Other Payments \| Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent receivable asset		$ 150,000
Remaining contingent receivable asset	528,000
Contingent Consideration \| Contingent Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on contingent receivable	184,000
Contingent Consideration \| Contingent Receivable \| Other Assets (long-term)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining contingent receivable asset	367,000
Contingent Consideration \| Contingent Receivable \| Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining contingent receivable asset	$ 161,000

Subsequent Events (Details) $ in Millions	Feb. 01, 2017 USD ($)
Argon Medical Devices and Catheter Connections, Inc. \| Subsequent Event
Subsequent Event [Line Items]
Payments to acquire certain products	$ 48.0

Schedule II - Valuation and qualifying accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ (1,297)	$ (893)	$ (840)
Additions Charged to Costs and Expenses	(404)	(607)	(83)
Deduction	322	203	30
Additions due to acquisitions	(208)	0	0
Balance at End of Year	(1,587)	(1,297)	(893)
Tax Valuation Allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	(1,981)	(1,603)	(1,363)
Additions Charged to Costs and Expenses	(1,805)	(378)	(240)
Deduction	0	0	0
Balance at End of Year	$ (3,786)	$ (1,981)	$ (1,603)

Organization and Summary of Significant Accounting Policies - Organization (Details)	12 Months Ended
	Dec. 31, 2016 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2