AngioDynamics (ANGO) 10-Q 5 Apr 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Feb. 28, 2018	Apr. 03, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 28, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	ANGO
Entity Registrant Name	ANGIODYNAMICS INC
Entity Central Index Key	1,275,187
Current Fiscal Year End Date	--05-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		36,804,506

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income (Loss) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Income Statement [Abstract]
Net sales	$ 83,851	$ 85,602	$ 255,968	$ 262,729
Cost of sales (exclusive of intangible amortization)	38,403	41,810	126,560	128,895
Gross profit	45,448	43,792	129,408	133,834
Operating expenses
Research and development	6,457	5,951	19,005	18,573
Sales and marketing	18,009	19,418	56,378	58,343
General and administrative	7,723	7,051	23,319	23,090
Amortization of intangibles	4,191	4,360	12,433	12,886
Change in fair value of contingent consideration	31	122	218	(15,386)
Acquisition, restructuring and other items, net	4,177	1,750	11,932	12,028
Total operating expenses	40,588	38,652	123,285	109,534
Operating income	4,860	5,140	6,123	24,300
Other (expenses) income
Interest expense, net	(740)	(627)	(2,223)	(2,156)
Other income (expense), net	(49)	44	238	(269)
Total other expenses, net	(789)	(583)	(1,985)	(2,425)
Income before income tax expense	4,071	4,557	4,138	21,875
Income tax expense (benefit)	(9,948)	1,670	(10,095)	3,954
Net income	$ 14,019	$ 2,887	$ 14,233	$ 17,921
Income (loss) per share
Basic (in usd per share)	$ 0.38	$ 0.08	$ 0.38	$ 0.49
Diluted (in usd per share)	$ 0.37	$ 0.08	$ 0.38	$ 0.48
Basic weighted average shares outstanding (in shares)	37,122	36,625	37,031	36,557
Diluted weighted average shares outstanding (in shares)	37,442	37,126	37,358	37,068

Consolidated Condensed Stateme3

Consolidated Condensed Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 14,019	$ 2,887	$ 14,233	$ 17,921
Other comprehensive income (loss), before tax:
Unrealized gain (loss) on marketable securities	21	(2)	66	0
Foreign currency translation	188	(41)	621	(906)
Other comprehensive income (loss), before tax	209	(43)	687	(906)
Income tax expense related to items of other comprehensive income	0	0	0	0
Other comprehensive income (loss), net of tax	209	(43)	687	(906)
Total comprehensive income, net of tax	$ 14,228	$ 2,844	$ 14,920	$ 17,015

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (unaudited) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 52,292	$ 47,544
Marketable securities	1,281	1,215
Accounts receivable, net of allowances of $2,438 and $2,945, respectively	41,827	44,523
Inventories	56,564	54,506
Prepaid income taxes	103	336
Prepaid expenses and other	4,502	5,790
Total current assets	156,569	153,914
Property, plant and equipment, net	43,058	45,234
Other assets	3,038	1,886
Intangible assets, net	134,512	145,675
Goodwill	361,252	361,252
Total assets	698,429	707,961
CURRENT LIABILITIES
Accounts payable	16,350	18,087
Accrued liabilities	30,973	38,804
Current portion of long-term debt	5,000	5,000
Current portion of contingent consideration	2,080	9,625
Total current liabilities	54,403	71,516
Long-term debt, net of current portion	87,798	91,320
Deferred income taxes	15,962	26,112
Contingent consideration, net of current portion	1,149	3,136
Other long-term liabilities	789	850
Total liabilities	160,101	192,934
Commitments and contingencies (Note 12)
STOCKHOLDERS' EQUITY
Preferred stock, par value $.01 per share, 5,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, par value $.01 per share, 75,000,000 shares authorized; 37,544,506 and 37,210,091 shares issued and 37,174,506 and 36,840,091 shares outstanding at February 28, 2018 and May 31, 2017, respectively	370	367
Additional paid-in capital	541,282	532,705
Retained earnings (accumulated deficit)	3,027	(11,007)
Treasury stock, 370,000 shares at February 28, 2018 and May 31, 2017, respectively	(5,714)	(5,714)
Accumulated other comprehensive loss	(637)	(1,324)
Total Stockholders’ Equity	538,328	515,027
Total Liabilities and Stockholders' Equity	$ 698,429	$ 707,961

Consolidated Condensed Balance5

Consolidated Condensed Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2,438	$ 2,945
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	37,544,506	37,210,091
Common stock, shares outstanding	37,174,506	36,840,091
Treasury stock, shares	370,000	370,000

Consolidated Condensed Stateme6

Consolidated Condensed Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Cash flows from operating activities:
Net income	$ 14,233	$ 17,921
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,395	18,455
Stock based compensation	5,821	5,078
Change in fair value of contingent consideration	218	(15,386)
Gain on contingent consideration for IPR&D Write-off	(10,150)	3,624
Bad debt expense	(35)	(605)
Impairment loss on indefinite-lived intangible assets	30	3,822
Other Asset Impairment Charges	0	2,685
Write-off of other assets	(635)	(535)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	2,897	6,898
Intercompany	(1,913)	(2,585)
Prepaid expenses and other	(548)	(1,215)
Accounts payable, accrued and other liabilities	(9,797)	(1,405)
Net cash provided by operating activities	17,516	36,752
Cash flows from investing activities:
Additions to property, plant and equipment	(1,647)	(2,258)
Acquisition of intangibles	(1,265)	0
Proceeds from sale or maturity of marketable securities	0	450
Net cash used in investing activities	(2,912)	(1,808)
Cash flows from financing activities:
Proceeds from issuance of and borrowings on long-term debt	0	116,471
Repayment of long-term debt	(3,750)	(139,131)
Payments of Debt Issuance Costs	0	(1,335)
Payment of acquisition related contingent consideration	(9,500)	(9,850)
Payments for Repurchase of Common Stock	0	(7,840)
Proceeds from exercise of stock options and employee stock purchase plan	2,560	10,269
Net cash used in financing activities	(10,690)	(31,416)
Effect of exchange rate changes on cash and cash equivalents	834	(290)
Increase in cash and cash equivalents	4,748	3,238
Cash and cash equivalents at beginning of period	47,544	32,333
Cash and cash equivalents at end of period	52,292
Supplemental disclosure of non-cash investing and financing activities:
Contractual obligations for acquisition of fixed assets	$ 95	$ 99

Consolidated Condensed Stateme7

Consolidated Condensed Statement of Stockholders' Equity (unaudited) - 9 months ended Feb. 28, 2018 - USD ($) $ in Thousands	Total	Common Stock [Member]	Common Stock [Member]Restricted Stock Units (RSUs) [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]
Beginning Balance at May. 31, 2017	$ 515,027	$ 367		$ 532,705	$ (11,007)	$ (1,324)	$ (5,714)
Beginning Balance, Shares at May. 31, 2017		37,210,091
Beginning Balance,Treasury Shares at May. 31, 2017	(370,000)						(370,000)
Net income	$ 14,233				14,233
Exercise of stock options	1,296	$ 1		1,295
Exercise of stock options, Shares		118,377
Issuance/Cancellation of performance share units and restricted stock units, net	1	$ 1
Issuance/Cancellation of performance share units and restricted stock units, net, Shares			126,095
Purchase of common stock under ESPP	1,263	$ 1		1,262
Purchase of common stock under ESPP, Shares		89,943
Stock based compensation	5,821			5,821
Other comprehensive income, net of tax	687					687
Ending Balance at Feb. 28, 2018	$ 538,328	$ 370		541,282	3,027	$ (637)	$ (5,714)
Ending Balance, Shares at Feb. 28, 2018		37,544,506
Ending Balance,Treasury Shares at Feb. 28, 2018	(370,000)						(370,000)
Adjustment from the adoption of ASU 2016-09	$ 0			$ 199	$ (199)

Consolidated Condensed Financia

Consolidated Condensed Financial Statements	9 Months Ended
	Feb. 28, 2018
Accounting Policies [Abstract]
Consolidated Condensed Financial Statements	CONSOLIDATED FINANCIAL STATEMENTS The consolidated balance sheet as of February 28, 2018 , the consolidated statement of stockholders’ equity for the nine months ended February 28, 2018 and the consolidated statements of income, consolidated statements of comprehensive income for the three and nine months ended February 28, 2018 and 2017 , and consolidated statements of cash flows for the nine months ended February 28, 2018 and 2017 have been prepared by us and are unaudited. The consolidated balance sheet as of May 31, 2017 was derived from audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary to state fairly the financial position, changes in stockholders’ equity and comprehensive income, results of operations and cash flows as of and for the period ended February 28, 2018 (and for all periods presented) have been made. The unaudited interim consolidated financial statements for the three and nine months ended February 28, 2018 and 2017 include the accounts of AngioDynamics, Inc. and its wholly owned subsidiaries, collectively, the “Company”. All intercompany balances and transactions have been eliminated. Reclassifications A reclassification was made to conform the prior year consolidated financial statements to reclassify bad debt expense from sales and marketing to general and administrative. The amount of the reclassification related to the three and nine months ended February 28, 2017 is $0.1 million and $0.1 million , respectively.

Inventories

Inventories	9 Months Ended
	Feb. 28, 2018
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are stated at lower of cost and net realizable value (using the first-in, first-out method). As of February 28, 2018 and May 31, 2017 , inventories consisted of the following: Feb 28, 2018 May 31, 2017 (in thousands) Raw materials $ 22,135 $ 17,563 Work in process 10,783 12,602 Finished goods 23,646 24,341 Inventories $ 56,564 $ 54,506 The Company periodically reviews for both obsolescence and loss of value. The Company makes assumptions about the future demand for and market value of the inventory. Based on these assumptions, the Company estimates the amount of obsolete, expiring and slow moving inventory. The total inventory reserve at February 28, 2018 and May 31, 2017 was $6.8 million and $7.3 million , respectively. Of the $6.8 million reserve for fiscal year 2018, $1.5 million relates to the inventory reserve for Acculis inventory as a result of the recall announced in the fourth quarter of fiscal year 2017 and $0.7 million relates to a specific reserve related to the termination of an agreement with a Japanese distributor in the second quarter of fiscal year 2018. Of the $7.3 million in the prior year, $2.4 million relates to the inventory reserve for Acculis inventory as a result of the recall.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Feb. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Intangible assets other than goodwill are amortized over their estimated useful lives on either a straight-line basis or proportionately to the benefit being realized. Useful lives range from two to eighteen years. The Company periodically reviews the estimated useful lives of our intangible assets and review such assets or asset groups for impairment whenever events or changes in circumstances indicate that the carrying value of the assets or asset groups may not be recoverable. If an intangible asset or asset group is considered to be impaired, the amount of the impairment will equal the excess of the carrying value over the fair value of the asset. Goodwill is not amortized, but rather, is tested for impairment annually or more frequently if impairment indicators arise. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. The Company's annual testing for impairment of goodwill was completed as of December 31, 2017. The Company operates as a single operating segment with one reporting unit and consequently evaluates goodwill for impairment based on an evaluation of the fair value of the Company as a whole. The Company determines the fair value of the reporting unit based on the market valuation approach and concluded that it was not more-likely-than-not that the fair value of the Company's reporting unit was less than its carrying value. Even though the Company determined that there was no goodwill impairment as of December 31, 2017, the future occurrence of a potential indicator of impairment, such as a significant adverse change in legal, regulatory, business or economic conditions or a more-likely-than-not expectation that the reporting unit or a significant portion of the reporting unit will be sold or disposed of, would require an interim assessment for the reporting unit prior to the next required annual assessment as of December 31, 2018. The Company continued to assess for potential impairment through February 28, 2018 and noted no events that would be considered a triggering event. There were no adjustments to goodwill for the nine months ended February 28, 2018 . As of February 28, 2018 and May 31, 2017 , intangible assets consisted of the following: February 28, 2018 Gross carrying value Accumulated amortization Net carrying value (in thousands) Product technologies $ 147,178 $ (66,470 ) $ 80,708 Customer relationships 56,487 (22,325 ) 34,162 Trademarks 28,400 (11,208 ) 17,192 Licenses 5,752 (4,186 ) 1,566 Distributor relationships 1,250 (366 ) 884 $ 239,067 $ (104,555 ) $ 134,512 May 31, 2017 Gross carrying value Accumulated amortization Net carrying value (in thousands) Product technologies $ 147,172 $ (59,696 ) $ 87,476 Customer relationships 56,375 (19,194 ) 37,181 Trademarks 28,400 (9,069 ) 19,331 Licenses 4,487 (3,821 ) 666 Distributor relationships 1,250 (229 ) 1,021 $ 237,684 $ (92,009 ) $ 145,675 Amortization expense for the three months ended February 28, 2018 and 2017 was $4.2 million and $4.4 million , respectively. Amortization expense for the nine months ended February 28, 2018 and 2017 was $12.4 million and $12.9 million , respectively. Expected future amortization expense related to the intangible assets is as follows: (in thousands) Remainder of 2018 $ 4,040 2019 16,566 2020 15,013 2021 13,854 2022 12,970 2023 and thereafter 72,069 $ 134,512

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Feb. 28, 2018
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES As of February 28, 2018 and May 31, 2017 , accrued liabilities consisted of the following: Feb 28, 2018 May 31, 2017 (in thousands) Payroll and related expenses $ 7,232 $ 11,383 Royalties 1,247 2,885 Accrued severance 2,634 2,075 Sales and franchise taxes 664 856 Outside services 1,880 1,622 Litigation matters 12,500 12,500 Acculis recall liability — 2,563 Other 4,816 4,920 $ 30,973 $ 38,804 In the fourth quarter of fiscal year 2017, the Company issued a voluntary recall of its Acculis probes that were sold over the past two years and recorded a liability of $2.6 million . In the third quarter of fiscal year 2018, the Company completed the replacement of Acculis probes that were returned with Solero probes.

Long Term Debt

Long Term Debt	9 Months Ended
	Feb. 28, 2018
Debt Disclosure [Abstract]
Long Term Debt	LONG TERM DEBT On November 7, 2016, the Company entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Keybank National Association as co-syndication agents, and JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keybank National Association as joint bookrunners and joint lead arrangers. The Credit Agreement provides for a $100.0 million senior secured term loan facility (“Term Loan”) and a $150.0 million senior secured revolving credit facility, which includes up to a $20.0 million sublimit for letters of credit and a $5.0 million sublimit for swingline loans (the “Revolving Facility”, and together with the Term Loan, the “Facilities”). On November 7, 2016, the Company borrowed $100.0 million under the Term Loan and approximately $16.5 million under the Revolving Facility to repay the balance of $116.5 million under the former credit agreement. As of February 28, 2018 and May 31, 2017 the carrying value of long-term debt approximates its fair market value. The interest rate on the Term Loan at February 28, 2018 was 3.07% . The Company was in compliance with the Credit Agreement covenants as of February 28, 2018 . The Company's maturities of principal obligations under the Credit Agreement are as follows, as of February 28, 2018 : (in thousands) Remainder of 2018 $ 1,250 2019 5,000 2020 7,500 2021 11,250 2022 68,750 Total term loan 93,750 Revolving facility — Total debt 93,750 Less: Unamortized debt issuance costs (952 ) Total 92,798 Less: Current portion of long-term debt (5,000 ) Total long-term debt, net $ 87,798

Income Taxes

Income Taxes	9 Months Ended
	Feb. 28, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year adjusted for any discrete events, which are recorded in the period that they occur. The estimated annual effective tax rate prior to discrete items was 4.9% in the third quarter of fiscal 2018 , as compared to 42.9% for the same period in fiscal 2017 . The Company’s effective tax rate differs from the U.S. statutory rate primarily due to a U.S. valuation allowance, foreign taxes and state taxes. The change from the prior quarter fiscal year 2017 is principally related to the enactment of the Tax Cuts and Jobs Act (“Tax Reform Act”) as it relates to amortization of goodwill for tax purposes which will no longer be treated as a permanent item in our tax provision. On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The legislation significantly changes U.S. tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system, expanding the tax base and imposing a tax deemed repatriated earnings of foreign subsidiaries. The Tax Reform Act permanently reduces the U.S. corporate federal income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. The Company has recognized the impact of the Tax Reform Act in these unaudited consolidated financial statements and related disclosures. Staff Accounting Bulletin No. 118 (“SAB 118”) provides Companies with guidance on accounting for the impact of the Tax Reform Act. Specifically, SAB 118 provides for a measurement period, not to exceed one year, that begins on the date of enactment of December 22, 2017, and ends when the Company has obtained, prepared, and analyzed information needed to complete accounting requirements. In accordance with SAB 118, the Company recorded provisional amounts reflecting the impact of the Tax Reform Act in these unaudited consolidated financial statements and related disclosures. As a result of the Tax Reform Act, in the third quarter of fiscal 2018, the Company has recognized a discrete tax benefit in the amount of $9.3 million due to the revaluation of the Company's indefinite lived deferred tax liability related to amortizable goodwill to reflect the lower statutory rate. Because the remaining U.S. deferred tax assets are offset by a full valuation allowance, the reduction in net deferred tax assets for the lower rate was fully offset by a corresponding reduction in valuation allowance resulting in no additional tax provision. The Tax Reform Act changed the NOL carryover rules and created a new limitation on their use. NOLs created in fiscal 2018 and beyond may be carried forwarded indefinitely but are limited to 80% of taxable income in any year. As a result of this change, the Company believes it is appropriate to offset some of its indefinite lived deferred tax liability against its deferred tax assets, and as a result, recognized an estimated $0.8 million discrete benefit in the third quarter of fiscal 2018. Additionally, this change impacts the Company's effective tax calculation on a go forward basis as the amortization of goodwill for tax purposes will no longer be treated as a permanent item in our tax provision. The Tax Reform Act imposes a one-time transition tax on the deemed repatriation of post-1986 undistributed foreign subsidiaries’ earnings. Based on the information available as of December 31, 2017, the Company estimated undistributed foreign earnings of approximately $4.8 million . The taxable income arising from this deemed repatriation is expected to result in the utilization of net operating loss carryforwards and other tax credits, offset by changes in the valuation allowance, resulting in no net impact to tax expense. In accordance with SAB 118, the estimated income tax impact associated with the one-time transition tax of zero represents our best estimate based on interpretation of the U.S. legislation as we are still accumulating data to finalize the underlying calculation. In accordance with SAB 118, estimated income tax impact associated with the one-time transition tax is considered provisional and will be finalized prior to the end of the measurement period. The ultimate impact may differ from these provisional amounts, due to, among other things, additional analysis, changes in interpretations and assumptions the Company has made, additional regulatory guidance that may be issued, and actions the Company may take as a result of the Tax Reform Act. A valuation allowance is established if it is more likely than not that all, or a portion of the deferred tax asset will not be realized. The Company has established that it is more likely than not that some, or all of their deferred tax assets will not be recognized in future years. Consequently, the Company continues to maintain a full U.S. valuation allowance on its net deferred tax assets. Management will continue to reevaluate the positive and negative evidence at each reporting period and if future results as projected in the U.S. and our tax planning strategies are favorable, the valuation allowance may be removed, which could have a favorable material impact on our results of operations in the period in which it is recorded.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Feb. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION The Company has two stock-based compensation plans that provide for the issuance of up to approximately 9.5 million shares of common stock. The 2004 Stock and Incentive Award Plan (the "2004 Plan") provides for the grant of incentive options to our employees and for the grant of non-statutory stock options, restricted stock, stock appreciation rights, performance units, performance shares and other incentive awards to our employees, directors and other service providers. The Company also has an employee stock purchase plan. For the three months ended February 28, 2018 and 2017 , share-based payment expense was $2.1 million and $1.7 million , respectively. For the nine months ended February 28, 2018 and 2017 , share-based payment expense was $5.8 million and $5.1 million , respectively. During the nine months ended February 28, 2018 and 2017 , the Company granted stock options and restricted stock units under the 2004 Plan to certain employees and members of the Board of Directors. Stock option awards are valued using the Black-Scholes option-pricing model and then amortized on a straight-line basis over the requisite service period of the award. Restricted stock unit awards are valued based on the closing trading value of the Company's shares on the date of grant and then amortized on a straight-line basis over the requisite service period of the award. In the nine months of fiscal year 2018 , the Company granted market-based performance share awards under the 2004 Plan to certain employees. The awards may be earned by achieving relative performance levels over the three year requisite service period. The performance criteria are based on the total shareholder return ("TSR") of the Company's common stock relative to the TSR of the common stock of a pre-defined industry peer-group. The fair value of these awards are based on the closing trading value of the Company's shares on the date of grant and use a Monte Carlo simulation model. As of February 28, 2018 , there was $15.0 million of unrecognized compensation expense related to share-based payment arrangements. These costs are expected to be recognized over a weighted-average period of approximately four years . The Company has sufficient shares to satisfy expected share-based payment arrangements.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Feb. 28, 2018
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share includes the dilutive effect of potential common stock consisting of stock options, restricted stock units and performance stock units, provided that the inclusion of such securities is not anti-dilutive. In periods with a net loss, stock options and restricted stock units are not included in the computation of diluted loss per share as the impact would be anti-dilutive. The following table reconciles basic to diluted weighted-average shares outstanding for the three and nine months ended February 28, 2018 and 2017 (in thousands): Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Basic 37,122 36,625 37,031 36,557 Effect of dilutive securities 320 501 327 511 Diluted 37,442 37,126 37,358 37,068 Securities excluded as their inclusion would be anti-dilutive 1,259 1,040 1,139 973

Segment and Geographic Informat

Segment and Geographic Information	9 Months Ended
	Feb. 28, 2018
Segment Reporting [Abstract]
Segment and Geographic Information	SEGMENT AND GEOGRAPHIC INFORMATION The Company considers the business to be a single operating segment engaged in the development, manufacture and sale of medical devices for vascular access, peripheral vascular disease, oncology and surgery on a global basis. The Company's chief operating decision maker, the President and Chief Executive Officer (CEO), evaluates the various global product portfolios on a net sales basis. Executives reporting to the CEO include those responsible for commercial operations, manufacturing operations, regulatory and quality and certain corporate functions. The CEO evaluates profitability, investment and cash flow metrics on a consolidated worldwide basis due to shared infrastructure and resources. The table below summarizes net sales by product category: Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Net sales Peripheral Vascular $ 48,517 $ 48,929 $ 149,751 $ 154,654 Vascular Access 23,279 23,680 69,091 72,238 Oncology/Surgery 12,055 12,993 37,126 35,837 Total $ 83,851 $ 85,602 $ 255,968 $ 262,729 The table below presents net sales by geographic area based on external customer location (in thousands of dollars): Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Net sales United States $ 65,787 $ 67,656 $ 203,020 $ 211,295 International 18,064 17,946 52,948 51,434 Total $ 83,851 $ 85,602 $ 255,968 $ 262,729

Fair Value

Fair Value	9 Months Ended
	Feb. 28, 2018
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE On a recurring basis, the Company measures certain financial assets and financial liabilities at fair value based upon quoted market prices, where available. Where quoted market prices or other observable inputs are not available, the Company applies valuation techniques to estimate fair value. FASB ASC Topic 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows: • Level 1 - Inputs to the valuation methodology are quoted market prices for identical assets or liabilities. • Level 2 - Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs. • Level 3 - Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. The Company's financial instruments include cash and cash equivalents, marketable securities, accounts receivable, accounts payable and contingent consideration. The carrying amount of cash and cash equivalents, accounts receivable, and accounts payable approximates fair value due to the immediate or short-term maturities. The Company's recurring fair value measurements using significant unobservable inputs (Level 3) relate to our marketable securities, which are comprised of auction rate securities and contingent consideration. The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis as of February 28, 2018 and May 31, 2017 (in thousands of dollars): Fair Value Measurements using inputs considered as: Fair Value at February 28, 2018 (in thousands) Level 1 Level 2 Level 3 Financial Assets: Marketable securities U.S. government agency obligations $ — $ — $ 1,281 $ 1,281 Total Financial Assets $ — $ — $ 1,281 $ 1,281 Financial Liabilities: Contingent consideration for acquisition earn out $ — $ — $ 3,229 $ 3,229 Total Financial Liabilities $ — $ — $ 3,229 $ 3,229 Fair Value Measurements using inputs considered as: Fair Value at May 31, 2017 (in thousands) Level 1 Level 2 Level 3 Financial Assets: Marketable securities U.S. government agency obligations $ — $ — $ 1,215 $ 1,215 Total Financial Assets $ — $ — $ 1,215 $ 1,215 Financial Liabilities: Contingent consideration for acquisition earn out $ — $ — $ 12,761 $ 12,761 Total Financial Liabilities $ — $ — $ 12,761 $ 12,761 There were no transfers between Level 1, 2 and 3 for the three and nine months ended February 28, 2018 . The table below presents the changes in fair value components of Level 3 instruments in the three and nine months ended February 28, 2018 : Three Months Ended February 28, 2018 Financial Assets Financial Liabilities (in thousands) Fair Value Measurements (Level 3) Fair Value Measurements (Level 3) Balance, November 30, 2017 $ 1,260 $ 3,198 Total gains or losses (realized/unrealized): Change in present value of contingent consideration — 31 Included in other comprehensive income (loss) 21 — Currency gain (loss) from remeasurement — — Proceeds from sale or maturity of marketable securities — — Transfers in and/or (out) of Level 3 — — Contingent consideration payments — — Balance, February 28, 2018 $ 1,281 $ 3,229 Nine Months Ended February 28, 2018 Financial Assets Financial Liabilities (in thousands) Fair Value Measurements (Level 3) Fair Value Measurements (Level 3) Balance, May 31, 2017 $ 1,215 $ 12,761 Total gains or losses (realized/unrealized): Change in present value of contingent consideration — 218 Included in other comprehensive income (loss) 66 — Transfers in and/or (out) of Level 3 — — Contingent consideration payments — (9,750 ) Balance, February 28, 2018 $ 1,281 $ 3,229 Contingent Consideration for Acquisition Earn Outs Some of our business combinations involve the potential for the payment of future contingent consideration upon the achievement of certain product development milestones or various other performance conditions. Payment of the additional consideration is generally contingent on the acquired company reaching certain performance milestones, including attaining specified revenue levels or product development targets. Contingent consideration is recorded at the estimated fair value of the contingent payments on the acquisition date. The fair value of the contingent consideration is remeasured at the estimated fair value at each reporting period with the change in fair value recognized as income or expense within change in fair value of contingent consideration in the consolidated statements of income. We measure the initial liability and remeasure the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements and is determined using a discounted cash flow model applied to projected net sales, using probabilities of achieving projected net sales and projected payment dates. Projected net sales are based on our internal projections and extensive analysis of the target market and the sales potential. Increases or decreases in any valuation inputs in isolation may result in a significantly lower or higher fair value measurement in the future. The recurring Level 3 fair value measurements of the contingent consideration liabilities include the following significant unobservable inputs as of February 28, 2018 (in thousands of dollars): Fair value at Valuation (in thousands) Feb 28, 2018 Technique Unobservable Input Range Revenue based payments $ 3,229 Discounted cash flow Discount rate 4% Probability of payment 100% Projected fiscal year of payment 2019-2020 At February 28, 2018 , the estimated potential amount of undiscounted future contingent consideration that we expect to pay as a result of all completed acquisitions is approximately $3.3 million , which represents the remaining contractual minimum payments.

Marketable Securities

Marketable Securities	9 Months Ended
	Feb. 28, 2018
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	MARKETABLE SECURITIES Marketable securities, which can be government agency bonds, auction rate investments or corporate commercial paper, are classified as “available-for-sale securities” and are reported at fair value, with unrealized gains and losses excluded from operations and reported as accumulated other comprehensive income (loss), net of the related tax effects, in stockholders’ equity. Cost is determined using the specific identification method. We hold an investment in an auction rate security that is high credit quality and generally achieved with municipal bond insurance. Sell orders for any security traded through an auction process could exceed bids and, in such cases, the auction fails and we may be unable to liquidate our position in the security in the near term. We have not participated in any recent auctions. As of February 28, 2018 and May 31, 2017 , we had $1.3 million and $1.2 million , respectively, in investments in one auction rate security. The authorities are current in their interest payments on the security. The auction rate security will mature in 2029. As of February 28, 2018 and May 31, 2017 , marketable securities consisted of the following (in thousands of dollars): February 28, 2018 (in thousands) Amortized cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Government agency obligations $ 1,350 $ — $ (69 ) $ 1,281 $ 1,350 $ — $ (69 ) $ 1,281 May 31, 2017 (in thousands) Amortized cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Government agency obligations $ 1,350 $ — $ (135 ) $ 1,215 $ 1,350 $ — $ (135 ) $ 1,215

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Feb. 28, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is involved in various legal proceedings, including commercial, intellectual property, product liability, and regulatory matters of a nature considered normal for its business. The Company accrues for amounts related to these matters if it is probable that a liability has been incurred, and an amount can be reasonably estimated. The Company discloses such matters when there is at least a reasonable possibility that a material loss may have been incurred. However, the Company cannot predict the outcome of any litigation or the potential for future litigation. C.R. Bard, Inc. v. AngioDynamics, Inc. On January 11, 2012, C.R. Bard, Inc. (“Bard”) filed a suit in the United States District Court of Utah claiming certain of our implantable port products infringe on three U.S. patents held by Bard (the "Utah Action"). Bard’s Complaint sought unspecified damages and other relief. The Court denied Bard’s motion for pre-trial consolidation with separate actions it filed on the same day against Medical Components, Inc. and Smiths Medical ASD, Inc., but had asked for supplemental briefing on the issue of whether to conduct a common Markman hearing. Meanwhile, we filed petitions for reexamination in the US Patent and Trademark Office ("PTO") seeking to invalidate all three patents asserted by Bard in the litigation. Our petitions were granted and 40 of Bard's 41 patent claims were rejected and, following further proceedings, the Patent Office issued a Final Rejection of all 40 claims subject to reexamination. Thereafter, Bard filed appeals to the PTO Board of Appeals and Interferences for all three reexams. The parties completed briefing on the appeals and oral argument was held on June 18, 2015. The Patent Office issued decisions in all three appeals. In one (issued on March 11, 2016 for US Patent No. 7,785,302), the rejections of six of the ten claims under reexamination were affirmed, but were reversed on four of the ten claims. In the second (issued on March 24, 2016 for U.S. Patent No. 7,959,615), the rejections of eight of the ten claims under reexamination were affirmed but the rejections of the other two of the ten claims were reversed. In the third (issued on March 29 for U.S. Patent No. 7,947.022) the rejections of all twenty claims under reexamination were affirmed. Thereafter, Bard filed Requests for Rehearing in all three reexamination appeals and the Company filed Requests for Rehearing in two of the reexamination appeals (the ‘302 and ‘615 patent reexaminations). Each party filed comments in Opposition to the other party’s Rehearing Requests, The PTO denied all three Rehearing Requests - - on February 1, 2017 for the ‘302; on February 17, 2017 for the ‘022; and on February 21, 2017 for the ‘615, but modified its characterization of one prior art reference for the ‘302 and ‘022 decisions. Bard filed a Notice of Appeal to the Federal Circuit Court of Appeals in all three reexams and the Company filed Cross-Appeals for the ‘302 and the ‘615 reexams. The parties have completed the process of filing the various appellate briefs, starting with Bard’s Opening Brief (filed on August 30, 2017), the Company’s Responsive/Opening Brief (filed on November 9, 2017), Bard’s reply (filed on January 19, 2018) and our Reply Brief (filed on March 5, 2018). MedComp also filed an Amicus Brief in support of the Company on November 22, 2017. A date for the oral hearing has not yet been set. The Utah Action has been stayed pending final resolution of the PTO process. In the Federal Circuit appeal, Bard moved to substitute Bard Peripheral Vascular, Inc. (“BPV”) as the Appellant (because Bard assigned the Asserted Patents to BPV on July 12, 2017) or, alternatively, to add BPV as Co-Appellant. The Company opposed substitution; and the Federal Circuit added BPV as Co-Appellant. However, in the District court case, Bard moved only to substitute BPV as plaintiff, but the Company has opposed. The District Court denied Bard's motion to substitute on February 7, 2018. We believe these claims are without merit and intend to defend them vigorously. We have not recorded an expense related to the outcome of this litigation because it is not yet possible to determine if a potential loss is probable nor reasonably estimable. On March 10, 2015, C.R. Bard, Inc. ("Bard") and Bard Peripheral Vascular, Inc. (“BPV”) filed suit in the United States District Court for the District of Delaware claiming certain of our implantable port products infringe on three U.S. patents held by Bard (the “Delaware Action"). Bard's complaint seeks unspecified damages and other relief. The patents asserted in the Delaware Action are different than those asserted in the Utah Action. On June 1, 2015, the Company filed two motions in response to Bard’s Complaint - one sought transfer to the District of Utah where the Utah Action is currently pending, and the other sought dismissal of the entire complaint on grounds that none of the claims in the asserted patents is directed to patent eligible subject matter under Section 101 of the Patent Statute and in light of recent authority from the U. S. Supreme Court. On January 12, 2016, the Court issued a decision denying both motions. The Company then served an Answer and Counterclaim to which Bard served a Reply. On March 10, 2016, the Court held a Case Management Conference, and, on March 14, 2016, the Court entered a Scheduling Order which set, inter alia, a Markman hearing for March 10, 2017, a summary judgment hearing for December 8, 2017 and trial for March 12, 2018. The parties thereafter served various discovery requests on each other, produced documents to each other, conducted party and third-party depositions, etc.; on May 27, 2016 Bard served its Initial Infringement Contentions which identified all the port products accused of infringement; and, on June 24, 2016, the Company served its Initial Invalidity Contentions which detail various grounds for invalidating the three asserted patents. The Markman hearing was held on March 10, 2017 and the Court issued its Claim Construction Order on May 19, 2017. On May 19, 2017, Bard served its Final Infringement Contentions and on June 2, 2017, the Company served its Final Invalidity Contentions. In August, 2017, Judge Robinson (who had been assigned to the case) retired and the case was reassigned to Judge Bataillon (who normally sits in the District of Nebraska). The Scheduling Order has been amended and currently provides for briefing on Case-Dispositive Motions (and other pre-trial motions) between February 16, 2018 and April 27, 2018 (no oral argument date is currently set) and trial to commence July 23, 2018. The parties completed Expert Discovery on January 30, 2018; including: exchanging opening, rebuttal and supplemental expert reports on infringement, invalidity, and damages between September 1, 2017 and December 12, 2017, and conducted expert depositions between December 7, 2017 and January 30, 2018. Meanwhile, Bard also sought to substitute BPV as plaintiff in this case via a Supplemental Complaint, but stipulated that the Company could assert in Cross-Claims and/or Third-Party Complaint against C. R. Bard for its claims of inequitable conduct and unclean hands, which the Company has since done. BPV responded with a partial Motion to Dismiss and the Company has served an amended Answer, Counterclaims and Cross-Claims/Third-Party Complaint. Bard and BPV have since answered/responded to the Company’s Cross-Claims/Complaint without renewing the dismissal motion. We believe these claims are without merit and intend to defend them vigorously. We have not recorded an expense related to the outcome of this litigation because it is not yet possible to determine if a potential loss is probable nor reasonably estimable. AngioDynamics, Inc. v. C.R. Bard, Inc. On May 30, 2017, we commenced an action in the United States District Court for the Northern District of New York entitled AngioDynamics, Inc. v. C.R. Bard, Inc. and Bard Access Systems, Inc. (“Bard”). In this action, we allege that Bard has illegally tied the sales of its tip location systems to the sales of its PICCs. We allege that this practice violates the federal antitrust laws and has had, and continues to have, an anti-competitive effect in the market for PICCs. We seek both monetary damages and injunctive relief. Bard moved to dismiss on September 8, 2017 and the motion has been submitted to the court. The court has adjourned the initial conference in the case pending its resolution of the motion to dismiss. Governmental Investigations In June 2014 we received a subpoena from the U.S. Department of Justice (the “DOJ”) requesting documents in relation to a criminal and civil investigation the DOJ is conducting regarding BTG International, Inc.’s LC Bead® product beginning in 2003. RITA Medical Systems and AngioDynamics, Inc., after its acquisition of RITA, was the exclusive distributor of LC Beads in the United States from 2006 through December 31, 2011. We are cooperating fully with this investigation. In April 2015 we received a subpoena from the DOJ requesting documents in relation to a criminal and civil investigation the DOJ is conducting regarding purported promotion of certain of AngioDynamics’ VenaCure EVLT products for un-cleared indications. We are cooperating fully with this investigation. As of May 31, 2017, the Company accrued $12.5 million for these matters and in August 2017 the Company agreed in principle with the government to resolve these matters for approximately $12.5 million .

Acquisition, Restructuring and

Acquisition, Restructuring and Other Items, Net	9 Months Ended
	Feb. 28, 2018
Restructuring and Related Activities [Abstract]
Acquisition, Restructuring and Other Items, Net	ACQUISITION, RESTRUCTURING, AND OTHER ITEMS, NET Acquisition, Restructuring and Other Items For the three and nine months ended February 28, 2018 and 2017 acquisition, restructuring and other items, net consisted of: Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Legal $ 2,319 $ 1,528 $ 7,299 $ 5,162 Intangible and other asset impairment — — — — Other asset write-off — 4 — 5,604 Restructuring 1,548 208 4,184 208 Other 310 10 449 1,054 Total $ 4,177 $ 1,750 $ 11,932 $ 12,028 Restructuring The Company evaluates its performance and looks for opportunities to improve the overall operations of the Company on an ongoing basis. As a result of this evaluation, certain restructuring initiatives are taken to enhance the Company’s overall operations. Operational Consolidation On February 1, 2017, the Company announced to employees an operational consolidation plan (the “plan”) to consolidate our manufacturing facilities in Manchester, GA and Denmead, UK into the Glens Falls and Queensbury, NY facilities. This plan will streamline and optimize the manufacturing functions into one centralized location increasing the utilization of the Glens Falls and Queensbury facilities, optimizing inventory and reducing cost of goods sold through savings in overhead expenses and direct labor. The restructuring activities associated with the plan are expected to be completed in the fourth quarter of fiscal year 2018. The following table provides a summary of our estimated costs associated with the plan: Type of cost Total estimated amount expected to be incurred (in millions) Termination benefits $1.75 to $2.25 Plant consolidation (1) $2.25 to $2.50 Regulatory filings $0.75 to $1.00 Contract cancellations $0.75 to $1.00 Other $0.75 to $1.00 $6.25 to $7.75 (1) Equipment transfer, validation and other start-up costs to prepare the facilities for the new product lines. The Company recorded restructuring charges related to the plan during the three and nine months ended February 28, 2018 of $1.5 million and $4.2 million , respectively. During the three and nine months ended February 28, 2017 , the Company recorded $0.2 million and $0.2 million , respectively. Total restructuring charges recorded to date are $5.5 million . Termination benefits are only earned if an employee stays until their termination date; therefore, the expenses related to termination benefits are being recorded ratably over the service period. The table below presents the restructuring reserve for the three and nine months ended February 28, 2018 : Three Months Ended February 28, 2018 Termination Benefits Plant Consolidation Regulatory Filings Contract Cancellation Costs Other Costs Total (in thousands) Balance at November 30, 2017 $ 1,745 $ 55 $ — $ — $ 24 $ 1,824 Charges 304 1,182 43 — 19 1,548 Non-cash adjustments — 39 — — — 39 Cash payments (464 ) (1,175 ) (27 ) — (40 ) (1,706 ) Balance at February 28, 2018 $ 1,585 $ 101 $ 16 $ — $ 3 $ 1,705 Nine Months Ended February 28, 2018 Termination Benefits Plant Consolidation Regulatory Filings Contract Cancellation Costs Other Costs Total (in thousands) Balance at May 31, 2017 $ 851 $ 111 $ — $ — $ — $ 962 Charges 1,499 2,574 43 — 68 4,184 Non-cash adjustments — (276 ) — — — (276 ) Cash payments (765 ) (2,308 ) (27 ) — (65 ) (3,165 ) Balance at February 28, 2018 $ 1,585 $ 101 $ 16 $ — $ 3 $ 1,705 The Company’s restructuring liability of $1.7 million is mainly comprised of accruals for termination benefits which are included in accrued expenses on the consolidated balance sheet.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Feb. 28, 2018
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHESIVE INCOME (LOSS) Changes in each component of accumulated other comprehensive income (loss), net of tax, are as follows for the three and nine months ended February 28, 2018 : Three months ended February 28, 2018 (in thousands) Foreign currency translation gain (loss) Unrealized gain (loss) on marketable securities Total Balance at November 30, 2017 $ (872 ) $ 26 $ (846 ) Other comprehensive income before reclassifications, net of tax 188 21 209 Amounts reclassified from accumulated other comprehensive income — — — Net other comprehensive income $ 188 $ 21 $ 209 Balance at February 28, 2018 $ (684 ) $ 47 $ (637 ) Nine months ended February 28, 2018 (in thousands) Foreign currency translation gain (loss) Unrealized gain (loss) on marketable securities Total Balance at May 31, 2017 $ (1,305 ) $ (19 ) $ (1,324 ) Other comprehensive income before reclassifications, net of tax 621 66 687 Amounts reclassified from accumulated other comprehensive income — — — Net other comprehensive income $ 621 $ 66 $ 687 Balance at February 28, 2018 $ (684 ) $ 47 $ (637 )

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Feb. 28, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS The following table provides a description of recent accounting pronouncements that may have a material effect on the Company's consolidated financial statements: Recently Issued Accounting Pronouncements - Adopted Standard Description Date Adopted Effect on the Consolidated Financial Statements ASU 2016-09, Compensation - Stock Based Compensation (Topic 718: Improvements to Employee Share-Based Payment Accounting) This ASU simplifies and improves various aspects of ASC 718 for share-based payments, including income tax items and the classification of these items on the statement of cash flows. June 1, 2017 The Company now recognizes unrealized excess tax benefits and will classify such benefits as an operating activity in the statement of cash flows on a prospective basis. Due to the full valuation allowance on our federal and state income taxes, the adoption of ASU 2016-09 did not impact our accounting for income taxes. The Company elected the accounting policy change to account for forfeitures as they occur. This was adopted using the modified retrospective transition method by means of a cumulative-effect adjustment to equity as of June 1, 2017. The adoption of ASU 2016-09 did not materially impact the Company's consolidated statements of income, consolidated balance sheet, equity or cash flows. ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) This ASU simplifies the subsequent measurement of goodwill by eliminating steps from the goodwill impairment test. June 1, 2017 This adoption did not have an impact on the Company's financial statements. ASC Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . Update No. 2015-11 This ASU more closely aligns the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards by requiring companies using the first-in, first-out and average costs methods to measure inventory using the lower of cost and net realizable value, where net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. June 1, 2017 This adoption did not have an impact on the Company's financial statements. Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09) This ASU provides a single, comprehensive accounting model for revenues arising from contracts with customers that supersedes most of the existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that an entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under existing revenue recognition guidance. June 1, 2018 The Company has established an implementation team which includes third-party specialists to assist in the evaluation and implementation of the new standard. The Company is currently in the process of performing an assessment of the impact of the standards on its contract portfolio by reviewing the Company’s current accounting policies and practices and to identify potential differences that would result from applying the requirements of the new standard to its revenue contracts. At this time, the Company does not anticipate a significant impact to its financial statements upon adoption of the new standard. However, the assessment is ongoing and further analysis of contracts may identify a more significant impact. The Company currently expects, in part due to the limited anticipated impact, it will utilize the modified retrospective approach of adopting the ASU. In addition, during fiscal year 2018 the Company plans to identify and implement, if necessary, appropriate changes to its business processes, systems and controls to support recognition and disclosure under the new standard. ASU 2016-02, Leases (Topic 842) This ASU increases transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities. June 1, 2019 The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements. ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15) This ASU identifies how certain cash receipts and cash payments are presented and classified in the Statement of Cash Flows under Topic 230. June 1, 2018 The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements.

Recently Issued Accounting Pr23

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Feb. 28, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS The following table provides a description of recent accounting pronouncements that may have a material effect on the Company's consolidated financial statements: Recently Issued Accounting Pronouncements - Adopted Standard Description Date Adopted Effect on the Consolidated Financial Statements ASU 2016-09, Compensation - Stock Based Compensation (Topic 718: Improvements to Employee Share-Based Payment Accounting) This ASU simplifies and improves various aspects of ASC 718 for share-based payments, including income tax items and the classification of these items on the statement of cash flows. June 1, 2017 The Company now recognizes unrealized excess tax benefits and will classify such benefits as an operating activity in the statement of cash flows on a prospective basis. Due to the full valuation allowance on our federal and state income taxes, the adoption of ASU 2016-09 did not impact our accounting for income taxes. The Company elected the accounting policy change to account for forfeitures as they occur. This was adopted using the modified retrospective transition method by means of a cumulative-effect adjustment to equity as of June 1, 2017. The adoption of ASU 2016-09 did not materially impact the Company's consolidated statements of income, consolidated balance sheet, equity or cash flows. ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) This ASU simplifies the subsequent measurement of goodwill by eliminating steps from the goodwill impairment test. June 1, 2017 This adoption did not have an impact on the Company's financial statements. ASC Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . Update No. 2015-11 This ASU more closely aligns the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards by requiring companies using the first-in, first-out and average costs methods to measure inventory using the lower of cost and net realizable value, where net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. June 1, 2017 This adoption did not have an impact on the Company's financial statements. Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09) This ASU provides a single, comprehensive accounting model for revenues arising from contracts with customers that supersedes most of the existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that an entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under existing revenue recognition guidance. June 1, 2018 The Company has established an implementation team which includes third-party specialists to assist in the evaluation and implementation of the new standard. The Company is currently in the process of performing an assessment of the impact of the standards on its contract portfolio by reviewing the Company’s current accounting policies and practices and to identify potential differences that would result from applying the requirements of the new standard to its revenue contracts. At this time, the Company does not anticipate a significant impact to its financial statements upon adoption of the new standard. However, the assessment is ongoing and further analysis of contracts may identify a more significant impact. The Company currently expects, in part due to the limited anticipated impact, it will utilize the modified retrospective approach of adopting the ASU. In addition, during fiscal year 2018 the Company plans to identify and implement, if necessary, appropriate changes to its business processes, systems and controls to support recognition and disclosure under the new standard. ASU 2016-02, Leases (Topic 842) This ASU increases transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities. June 1, 2019 The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements. ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15) This ASU identifies how certain cash receipts and cash payments are presented and classified in the Statement of Cash Flows under Topic 230. June 1, 2018 The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Feb. 28, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are stated at lower of cost and net realizable value (using the first-in, first-out method). As of February 28, 2018 and May 31, 2017 , inventories consisted of the following: Feb 28, 2018 May 31, 2017 (in thousands) Raw materials $ 22,135 $ 17,563 Work in process 10,783 12,602 Finished goods 23,646 24,341 Inventories $ 56,564 $ 54,506

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Feb. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	As of February 28, 2018 and May 31, 2017 , intangible assets consisted of the following: February 28, 2018 Gross carrying value Accumulated amortization Net carrying value (in thousands) Product technologies $ 147,178 $ (66,470 ) $ 80,708 Customer relationships 56,487 (22,325 ) 34,162 Trademarks 28,400 (11,208 ) 17,192 Licenses 5,752 (4,186 ) 1,566 Distributor relationships 1,250 (366 ) 884 $ 239,067 $ (104,555 ) $ 134,512 May 31, 2017 Gross carrying value Accumulated amortization Net carrying value (in thousands) Product technologies $ 147,172 $ (59,696 ) $ 87,476 Customer relationships 56,375 (19,194 ) 37,181 Trademarks 28,400 (9,069 ) 19,331 Licenses 4,487 (3,821 ) 666 Distributor relationships 1,250 (229 ) 1,021 $ 237,684 $ (92,009 ) $ 145,675
Schedule of Future Amortization Expense	Expected future amortization expense related to the intangible assets is as follows: (in thousands) Remainder of 2018 $ 4,040 2019 16,566 2020 15,013 2021 13,854 2022 12,970 2023 and thereafter 72,069 $ 134,512

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Feb. 28, 2018
Payables and Accruals [Abstract]
Accrued Liabilities	As of February 28, 2018 and May 31, 2017 , accrued liabilities consisted of the following: Feb 28, 2018 May 31, 2017 (in thousands) Payroll and related expenses $ 7,232 $ 11,383 Royalties 1,247 2,885 Accrued severance 2,634 2,075 Sales and franchise taxes 664 856 Outside services 1,880 1,622 Litigation matters 12,500 12,500 Acculis recall liability — 2,563 Other 4,816 4,920 $ 30,973 $ 38,804 In the fourth quarter of fiscal year 2017, the Company issued a voluntary recall of its Acculis probes that were sold over the past two years and recorded a liability of $2.6 million . In the third quarter of fiscal year 2018, the Company completed the replacement of Acculis probes that were returned with Solero probes.

Long Term Debt (Tables)

Long Term Debt (Tables)	9 Months Ended
	Feb. 28, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The Company's maturities of principal obligations under the Credit Agreement are as follows, as of February 28, 2018 : (in thousands) Remainder of 2018 $ 1,250 2019 5,000 2020 7,500 2021 11,250 2022 68,750 Total term loan 93,750 Revolving facility — Total debt 93,750 Less: Unamortized debt issuance costs (952 ) Total 92,798 Less: Current portion of long-term debt (5,000 ) Total long-term debt, net $ 87,798

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Feb. 28, 2018
Earnings Per Share [Abstract]
Reconciliation of Basic to Diluted Weighted-Average Shares Outstanding	The following table reconciles basic to diluted weighted-average shares outstanding for the three and nine months ended February 28, 2018 and 2017 (in thousands): Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Basic 37,122 36,625 37,031 36,557 Effect of dilutive securities 320 501 327 511 Diluted 37,442 37,126 37,358 37,068 Securities excluded as their inclusion would be anti-dilutive 1,259 1,040 1,139 973

Segment and Geographic Inform29

Segment and Geographic Information (Tables)	9 Months Ended
	Feb. 28, 2018
Segment Reporting [Abstract]
Summary of Net Sales by Product Category	The table below summarizes net sales by product category: Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Net sales Peripheral Vascular $ 48,517 $ 48,929 $ 149,751 $ 154,654 Vascular Access 23,279 23,680 69,091 72,238 Oncology/Surgery 12,055 12,993 37,126 35,837 Total $ 83,851 $ 85,602 $ 255,968 $ 262,729
Summary of Net Sales by Geographic Area	The table below presents net sales by geographic area based on external customer location (in thousands of dollars): Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Net sales United States $ 65,787 $ 67,656 $ 203,020 $ 211,295 International 18,064 17,946 52,948 51,434 Total $ 83,851 $ 85,602 $ 255,968 $ 262,729

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Feb. 28, 2018
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis as of February 28, 2018 and May 31, 2017 (in thousands of dollars): Fair Value Measurements using inputs considered as: Fair Value at February 28, 2018 (in thousands) Level 1 Level 2 Level 3 Financial Assets: Marketable securities U.S. government agency obligations $ — $ — $ 1,281 $ 1,281 Total Financial Assets $ — $ — $ 1,281 $ 1,281 Financial Liabilities: Contingent consideration for acquisition earn out $ — $ — $ 3,229 $ 3,229 Total Financial Liabilities $ — $ — $ 3,229 $ 3,229 Fair Value Measurements using inputs considered as: Fair Value at May 31, 2017 (in thousands) Level 1 Level 2 Level 3 Financial Assets: Marketable securities U.S. government agency obligations $ — $ — $ 1,215 $ 1,215 Total Financial Assets $ — $ — $ 1,215 $ 1,215 Financial Liabilities: Contingent consideration for acquisition earn out $ — $ — $ 12,761 $ 12,761 Total Financial Liabilities $ — $ — $ 12,761 $ 12,761
Fair Value Measurements Using Significant Unobservable Inputs	The table below presents the changes in fair value components of Level 3 instruments in the three and nine months ended February 28, 2018 : Three Months Ended February 28, 2018 Financial Assets Financial Liabilities (in thousands) Fair Value Measurements (Level 3) Fair Value Measurements (Level 3) Balance, November 30, 2017 $ 1,260 $ 3,198 Total gains or losses (realized/unrealized): Change in present value of contingent consideration — 31 Included in other comprehensive income (loss) 21 — Currency gain (loss) from remeasurement — — Proceeds from sale or maturity of marketable securities — — Transfers in and/or (out) of Level 3 — — Contingent consideration payments — — Balance, February 28, 2018 $ 1,281 $ 3,229 Nine Months Ended February 28, 2018 Financial Assets Financial Liabilities (in thousands) Fair Value Measurements (Level 3) Fair Value Measurements (Level 3) Balance, May 31, 2017 $ 1,215 $ 12,761 Total gains or losses (realized/unrealized): Change in present value of contingent consideration — 218 Included in other comprehensive income (loss) 66 — Transfers in and/or (out) of Level 3 — — Contingent consideration payments — (9,750 ) Balance, February 28, 2018 $ 1,281 $ 3,229
Summary Showing the Recurring Fair Value Measurements of the Contingent Consideration Liability	The recurring Level 3 fair value measurements of the contingent consideration liabilities include the following significant unobservable inputs as of February 28, 2018 (in thousands of dollars): Fair value at Valuation (in thousands) Feb 28, 2018 Technique Unobservable Input Range Revenue based payments $ 3,229 Discounted cash flow Discount rate 4% Probability of payment 100% Projected fiscal year of payment 2019-2020

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Feb. 28, 2018
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	As of February 28, 2018 and May 31, 2017 , marketable securities consisted of the following (in thousands of dollars): February 28, 2018 (in thousands) Amortized cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Government agency obligations $ 1,350 $ — $ (69 ) $ 1,281 $ 1,350 $ — $ (69 ) $ 1,281 May 31, 2017 (in thousands) Amortized cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Government agency obligations $ 1,350 $ — $ (135 ) $ 1,215 $ 1,350 $ — $ (135 ) $ 1,215

Acquisition, Restructuring an32

Acquisition, Restructuring and Other Items, Net (Tables)	9 Months Ended
	Feb. 28, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	For the three and nine months ended February 28, 2018 and 2017 acquisition, restructuring and other items, net consisted of: Three Months Ended Nine Months Ended (in thousands) Feb 28, 2018 Feb 28, 2017 Feb 28, 2018 Feb 28, 2017 Legal $ 2,319 $ 1,528 $ 7,299 $ 5,162 Intangible and other asset impairment — — — — Other asset write-off — 4 — 5,604 Restructuring 1,548 208 4,184 208 Other 310 10 449 1,054 Total $ 4,177 $ 1,750 $ 11,932 $ 12,028 The following table provides a summary of our estimated costs associated with the plan: Type of cost Total estimated amount expected to be incurred (in millions) Termination benefits $1.75 to $2.25 Plant consolidation (1) $2.25 to $2.50 Regulatory filings $0.75 to $1.00 Contract cancellations $0.75 to $1.00 Other $0.75 to $1.00 $6.25 to $7.75 The table below presents the restructuring reserve for the three and nine months ended February 28, 2018 : Three Months Ended February 28, 2018 Termination Benefits Plant Consolidation Regulatory Filings Contract Cancellation Costs Other Costs Total (in thousands) Balance at November 30, 2017 $ 1,745 $ 55 $ — $ — $ 24 $ 1,824 Charges 304 1,182 43 — 19 1,548 Non-cash adjustments — 39 — — — 39 Cash payments (464 ) (1,175 ) (27 ) — (40 ) (1,706 ) Balance at February 28, 2018 $ 1,585 $ 101 $ 16 $ — $ 3 $ 1,705 Nine Months Ended February 28, 2018 Termination Benefits Plant Consolidation Regulatory Filings Contract Cancellation Costs Other Costs Total (in thousands) Balance at May 31, 2017 $ 851 $ 111 $ — $ — $ — $ 962 Charges 1,499 2,574 43 — 68 4,184 Non-cash adjustments — (276 ) — — — (276 ) Cash payments (765 ) (2,308 ) (27 ) — (65 ) (3,165 ) Balance at February 28, 2018 $ 1,585 $ 101 $ 16 $ — $ 3 $ 1,705

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Feb. 28, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in each component of accumulated other comprehensive income (loss), net of tax, are as follows for the three and nine months ended February 28, 2018 : Three months ended February 28, 2018 (in thousands) Foreign currency translation gain (loss) Unrealized gain (loss) on marketable securities Total Balance at November 30, 2017 $ (872 ) $ 26 $ (846 ) Other comprehensive income before reclassifications, net of tax 188 21 209 Amounts reclassified from accumulated other comprehensive income — — — Net other comprehensive income $ 188 $ 21 $ 209 Balance at February 28, 2018 $ (684 ) $ 47 $ (637 ) Nine months ended February 28, 2018 (in thousands) Foreign currency translation gain (loss) Unrealized gain (loss) on marketable securities Total Balance at May 31, 2017 $ (1,305 ) $ (19 ) $ (1,324 ) Other comprehensive income before reclassifications, net of tax 621 66 687 Amounts reclassified from accumulated other comprehensive income — — — Net other comprehensive income $ 621 $ 66 $ 687 Balance at February 28, 2018 $ (684 ) $ 47 $ (637 )

Consolidated Condensed Financ34

Consolidated Condensed Financial Statements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Feb. 28, 2017	Feb. 28, 2017
Accounting Policies [Abstract]
Reclassification, Bad Debt Expense	$ 0.1	$ 0.1

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 22,135	$ 17,563
Work in process	10,783	12,602
Finished goods	23,646	24,341
Inventories	$ 56,564	$ 54,506

Inventories - Narrative (Detail

Inventories - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Nov. 30, 2017	May 31, 2017	May 31, 2017	Feb. 28, 2018
Inventory Disclosure [Abstract]
Inventory valuation reserves		$ 7.3	$ 7.3	$ 6.8
Inventory write-down	$ 0.7	$ 1.5	$ 2.4

Goodwill and Intangible Asset37

Goodwill and Intangible Assets - Narrative (Detail) - USD ($)	Dec. 31, 2016	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	May 31, 2017
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0
Goodwill adjustments						$ 0
Amortization of intangibles		$ 4,191,000	$ 4,360,000	$ 12,433,000	$ 12,886,000
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets other than goodwill						18 years
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets other than goodwill				2 years

Goodwill and Intangible Asset38

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, excluding goodwill	$ 239,067	$ 237,684
Accumulated amortization	(104,555)	(92,009)
Net carrying value, finite intangible items	134,512
Net carrying value, excluding goodwill	134,512	145,675
Product Technologies [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	147,178	147,172
Accumulated amortization	(66,470)	(59,696)
Net carrying value, finite intangible items	80,708	87,476
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	56,487	56,375
Accumulated amortization	(22,325)	(19,194)
Net carrying value, finite intangible items	34,162	37,181
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	28,400	28,400
Accumulated amortization	(11,208)	(9,069)
Net carrying value, finite intangible items	17,192	19,331
Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	5,752	4,487
Accumulated amortization	(4,186)	(3,821)
Net carrying value, finite intangible items	1,566	666
Distributor Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	1,250	1,250
Accumulated amortization	(366)	(229)
Net carrying value, finite intangible items	$ 884	$ 1,021

Goodwill and Intangible Asset39

Goodwill and Intangible Assets - Expected Future Amortization Expense (Detail) $ in Thousands	Feb. 28, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2017	$ 4,040
2,018	16,566
2,019	15,013
2,020	13,854
2,021	12,970
2022 and thereafter	72,069
Net carrying value, finite intangible items	$ 134,512

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Other Liabilities Disclosure [Abstract]
Payroll and related expenses	$ 7,232	$ 11,383
Royalties	1,247	2,885
Accrued severance	2,634	2,075
Sales and franchise taxes	664	856
Outside services	1,880	1,622
Accrued Litigation	12,500	12,500
Accrued Acculis Recall	0	2,563
Other	4,816	4,920
Total	$ 30,973	$ 38,804

Accrued Liabilities - Narrative

Accrued Liabilities - Narrative (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Other Liabilities Disclosure [Abstract]
Accrued Acculis recall	$ 0	$ 2,563

Long Term Debt - Narrative (Det

Long Term Debt - Narrative (Detail) - USD ($)	Nov. 07, 2016	Feb. 28, 2018	Feb. 28, 2017
Debt Instrument [Line Items]
Proceeds from issuance of and borrowings on long-term debt		$ 0	$ 116,471,000
Repayments of former credit agreement		$ 3,750,000	$ 139,131,000
Credit Facility | JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association [Member]
Debt Instrument [Line Items]
Stated interest rate		3.07%
Term Loan | Credit Facility | JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association [Member]
Debt Instrument [Line Items]
Line of credit	$ 100,000,000
Proceeds from issuance of and borrowings on long-term debt	100,000,000
Revolving Credit Facility | Credit Facility | JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association [Member]
Debt Instrument [Line Items]
Line of credit	150,000,000
Proceeds from issuance of and borrowings on long-term debt	16,500,000
Letter of Credit [Member] | Credit Facility | JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association [Member]
Debt Instrument [Line Items]
Line of credit	20,000,000
Bridge Loan [Member] | Credit Facility | JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association [Member]
Debt Instrument [Line Items]
Line of credit	5,000,000
Former Credit Agreement [Member] | Credit Facility | JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association [Member]
Debt Instrument [Line Items]
Repayments of former credit agreement	$ 116,500,000

Long Term Debt - Debt Outstandi

Long Term Debt - Debt Outstanding (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Debt Instrument [Line Items]
Long term debt, gross	$ 93,750
Unamortized debt issuance costs	(952)
Long term debt, net	92,798
Current portion of long term debt	(5,000)	$ (5,000)
Long term debt, net of current maturities	87,798
Term Loan | Credit Facility
Debt Instrument [Line Items]
Remainder of 2018	1,250
2,019	5,000
2,020	7,500
2,021	11,250
2,022	68,750
Long term debt, gross	93,750
Revolving Credit Facility | Credit Facility
Debt Instrument [Line Items]
Long term debt, gross	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Feb. 28, 2018	Nov. 30, 2017	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Estimated federal statutory income tax rate	4.90%		42.90%
Tax Cuts and Jobs Act, change in tax rate, deferred tax liability, income tax benefit		$ 9,300,000
Income tax expense (benefit), intangible assets	$ 800,000
Net operating loss carryover limitation, percentage of taxable income		80.00%
Tax Cuts and Jobs Act, transition tax for accumulated foreign earnings, liability	4,800,000
Tax Cuts and Jobs Act, transition tax for accumulated foreign earnings, income tax expense	$ 0

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Amount of shares issuable through two stock-based compensation plans	9.5		9.5
Charges against income for share-based payment arrangements	$ 2.1	$ 1.7	$ 5.8	$ 5.1
Unrecognized compensation expenses related to share-based payment arrangements	$ 15		$ 15
Recognition period			4 years

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic to Diluted Weighted-Average Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Earnings Per Share [Abstract]
Basic (shares)	37,122	36,625	37,031	36,557
Effect of dilutive securities (shares)	320	501	327	511
Diluted (shares)	37,442	37,126	37,358	37,068
Securities excluded as their inclusion would be anti-dilutive (shares)	1,259	1,040	1,139	973

Segment and Geographic Inform47

Segment and Geographic Information - Summary of Net Sales by Product Category (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Segment Reporting Information [Line Items]
Net sales	$ 83,851	$ 85,602	$ 255,968	$ 262,729
Peripheral Vascular [Member]
Segment Reporting Information [Line Items]
Net sales	48,517	48,929	149,751	154,654
Vascular Access [Member]
Segment Reporting Information [Line Items]
Net sales	23,279	23,680	69,091	72,238
Oncology/Surgery [Member]
Segment Reporting Information [Line Items]
Net sales	$ 12,055	$ 12,993	$ 37,126	$ 35,837

Segment and Geographic Inform48

Segment and Geographic Information - Summary of Net Sales by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Net Sales
Net sales	$ 83,851	$ 85,602	$ 255,968	$ 262,729
Reportable Geographical Components [Member] | United States [Member]
Net Sales
Net sales	65,787	67,656	203,020	211,295
Reportable Geographical Components [Member] | International [Member]
Net Sales
Net sales	$ 18,064	$ 17,946	$ 52,948	$ 51,434

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) $ in Millions	Feb. 28, 2018USD ($)
Fair Value Disclosures [Abstract]
Potential amount of undiscounted future contingent consideration	$ 3.3

Fair Value - Fair Value of Asse

Fair Value - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Recurring [Member]
Financial Assets
Total Financial Assets	$ 1,281	$ 1,215
Financial Liabilities
Total Financial Liabilities	3,229	12,761
Recurring [Member] | U.S. Government Agency Obligations [Member]
Financial Assets
Marketable securities	1,281	1,215
Contingent Consideration Earn Out Liability [Member]
Financial Liabilities
Total Financial Liabilities	3,229
Contingent Consideration Earn Out Liability [Member] | Recurring [Member]
Financial Liabilities
Total Financial Liabilities		12,761
Level 1 [Member] | Recurring [Member]
Financial Assets
Total Financial Assets	0	0
Financial Liabilities
Total Financial Liabilities	0	0
Level 1 [Member] | Recurring [Member] | U.S. Government Agency Obligations [Member]
Financial Assets
Marketable securities	0	0
Level 1 [Member] | Contingent Consideration Earn Out Liability [Member] | Recurring [Member]
Financial Liabilities
Total Financial Liabilities	0
Level 2 [Member] | Recurring [Member]
Financial Assets
Total Financial Assets	0	0
Financial Liabilities
Total Financial Liabilities	0	0
Level 2 [Member] | Recurring [Member] | U.S. Government Agency Obligations [Member]
Financial Assets
Marketable securities	0	0
Level 2 [Member] | Contingent Consideration Earn Out Liability [Member] | Recurring [Member]
Financial Liabilities
Total Financial Liabilities	0
Level 3 [Member] | Recurring [Member]
Financial Assets
Total Financial Assets	1,281	1,215
Financial Liabilities
Total Financial Liabilities	3,229	12,761
Level 3 [Member] | Recurring [Member] | U.S. Government Agency Obligations [Member]
Financial Assets
Marketable securities	1,281	1,215
Level 3 [Member] | Contingent Consideration Earn Out Liability [Member] | Recurring [Member]
Financial Liabilities
Total Financial Liabilities	$ 3,229	$ 12,761

Fair Value - Fair Value Measure

Fair Value - Fair Value Measurements Using Significant Unobservable Inputs (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Feb. 28, 2018	Feb. 28, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Financial assets, begining balance	$ 1,260	$ 1,215
Contingent consideration - Clinical Devices, assets	0	0
Financial assets, ending balance	1,281	1,281
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Financial liabilities, begining balance	3,198	12,761
Change in Fair Value of Contingent Consideration	31	218
Financial liabilities, ending balance	3,229	3,229
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	21	66
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0
Fair Value Liabilities Measured on Recurring Basis Loss Included in Earnings	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales	0
Clinical Devices B.V [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration - Clinical Devices, liabilities	$ 0	$ (9,750)

Fair Value - Summary Showing th

Fair Value - Summary Showing the Recurring Fair Value Measurements of the Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	9 Months Ended
	Feb. 28, 2018	Nov. 30, 2017	May 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 3,229	$ 3,198	$ 12,761
Level 3 [Member] | Revenue Based Payments [Member] | Recurring [Member] | Contingent Consideration Earn Out Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 3,229
Discount rate	4.00%
Probability of payment	100.00%

Marketable Securities - Narrati

Marketable Securities - Narrative (Detail) $ in Millions	Feb. 28, 2018USD ($)Investment	May 31, 2017USD ($)
Marketable Securities [Abstract]
Investments in auction rate securities that failed auctions | $	$ 1.3	$ 1.2
Number of investments (investment) | Investment	1

Marketable Securities - Marketa

Marketable Securities - Marketable Securities (Detail) - USD ($) $ in Thousands	Feb. 28, 2018	May 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 1,350	$ 1,350
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(69)	(135)
Fair Value	1,281	1,215
U.S. Government Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,350	1,350
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(69)	(135)
Fair Value	$ 1,281	$ 1,215

Commitments and Coontingencies

Commitments and Coontingencies - Additional Information (Detail) $ in Millions	Mar. 29, 2016claim	Mar. 24, 2016claim	Mar. 11, 2016claim	Jun. 01, 2015motion	Mar. 10, 2015patent	Jan. 11, 2012claimreexamination_appeal	Feb. 28, 2018claim	Feb. 28, 2017Petitionreexamination_appeal	May 31, 2017USD ($)
Loss Contingencies [Line Items]
Loss Contingency Accrual | $									$ 12.5
C.R. Bard, Inc. [Member]
Loss Contingencies [Line Items]
Number of petitions filed for reexamination of patents | Petition								3
Number of claims dismissed							40,000
The Utah Action [Member]
Loss Contingencies [Line Items]
Patent claims						41,000
Number of claims dismissed	20	8	6			40,000
Number of reexaminations | reexamination_appeal						3
Number of pending claims		10	10
Number of claims reversed		2	4
The Utah Action [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of reexaminations | reexamination_appeal								2
The Delaware Action [Member]
Loss Contingencies [Line Items]
Number of patents allegedly infringed upon				2	3
C.R. Bard, Inc. [Member] | The Utah Action [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of reexaminations | reexamination_appeal								3

Acquisition, Restructuring an56

Acquisition, Restructuring and Other Items, Net - Summary (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	$ 4,177	$ 1,750	$ 11,932	$ 12,028
Legal Costs [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	2,319	1,528	7,299	5,162
Intangible Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	0	0	0	0
Other Asset Write-off [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	0	4	0	5,604
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	1,548	208	4,184	208
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	$ 310	$ 10	$ 449	$ 1,054

Acquisition, Restructuring an57

Acquisition, Restructuring and Other Items, Net - Expected Restructuring Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Feb. 01, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	$ 4,177	$ 1,750	$ 11,932	$ 12,028
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	$ 310	$ 10	$ 449	$ 1,054
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					$ 6,250
Minimum [Member] | One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					1,750
Minimum [Member] | Equipment Transfer [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					2,250
Minimum [Member] | Regulatory Filings [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					750
Minimum [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					750
Minimum [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					750
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					7,750
Maximum [Member] | One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					2,250
Maximum [Member] | Equipment Transfer [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					2,500
Maximum [Member] | Regulatory Filings [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					1,000
Maximum [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					1,000
Maximum [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Estimated costs					$ 1,000

Acquisition, Restructuring an58

Acquisition, Restructuring and Other Items, Net - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		10 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Nov. 30, 2017	May 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 1,548	$ 200	$ 4,184	$ 200	$ 5,500
Restructuring liability	$ 1,705		$ 1,705		$ 1,824	$ 962

Acquisition, Restructuring an59

Acquisition, Restructuring and Other Items, Net - Costs Incurred (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		10 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Nov. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	$ 1,824		$ 962
Charges	1,548	$ 200	4,184	$ 200	$ 5,500
Non-cash adjustments	39		276
Cash payments	(1,706)		(3,165)
Restructuring reserve, ending balance	1,705		1,705		1,824
One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	1,745		851
Charges	304		1,499
Non-cash adjustments	0		0
Cash payments	(464)		(765)
Restructuring reserve, ending balance	1,585		1,585		1,745
Plants Consolidation
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	55		111
Charges	1,182		2,574
Non-cash adjustments	39		276
Cash payments	(1,175)		(2,308)
Restructuring reserve, ending balance	101		101		55
Regulatory Filings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	0		0
Charges	43		43
Non-cash adjustments	0		0
Cash payments	(27)		(27)
Restructuring reserve, ending balance	16		16		0
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	0		0
Charges	0		0
Non-cash adjustments	0		0
Cash payments	0		0
Restructuring reserve, ending balance	0		0		0
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	24		0
Charges	19		68
Non-cash adjustments	0		0
Cash payments	(40)		(65)
Restructuring reserve, ending balance	$ 3		$ 3		$ 24

Accumulated Other Comprehensi60

Accumulated Other Comprehensive Income - Schedule (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017	Aug. 31, 2017	May 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (637)		$ (637)		$ (846)	$ (1,324)
Net other comprehensive income (loss)	209	$ (43)	687	$ (906)
OCI, before Reclassifications, before Tax, Attributable to Parent	209		687
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	0		0
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(684)		(684)		(872)	(1,305)
Net other comprehensive income (loss)	188		621
OCI, before Reclassifications, before Tax, Attributable to Parent	188		621
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	0		0
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	47		47		$ 26	$ (19)
Net other comprehensive income (loss)	21		66
OCI, before Reclassifications, before Tax, Attributable to Parent	21		66
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	$ 0		$ 0