Spectranetics (SPNC) 10-K 26 Feb 16 2014 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 22, 2016	Jun. 30, 2015
Document Information [Abstract]
Entity Registrant Name	SPECTRANETICS CORP
Entity Central Index Key	789,132
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,699,239
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 963,268,366

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 84,594	$ 95,505
Trade accounts receivable, less allowance for doubtful accounts and sales returns of $1,906 and $1,615, respectively	43,359	41,090
Inventories, net	25,155	25,446
Prepaid expenses and other current assets	5,171	8,093
Total current assets	158,279	170,134
Property and equipment, net	44,719	33,819
Goodwill	152,616	149,898
Other intangible assets, net	110,456	102,616
Other assets	1,929	1,371
Total assets	467,999	457,838
Current liabilities:
Borrowings under revolving line of credit	24,232	0
Accounts payable	4,150	4,397
Accrued liabilities	33,676	35,052
Deferred revenue	1,621	1,894
Total current liabilities	63,679	41,343
Convertible senior notes, net of debt issuance costs	224,076	223,088
Term loan, net of debt issuance costs	59,601	0
Accrued liabilities, net of current portion	1,496	1,222
Contingent consideration, net of current portion	263	28,551
Deferred income taxes	1,915	1,477
Total liabilities	$ 351,030	$ 295,681
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; none issued	$ 0	$ 0
Common stock, $0.001 par value. Authorized 120,000,000 shares; issued and outstanding 42,659,234 and 42,060,865 shares, respectively	42	42
Additional paid-in capital	313,442	298,526
Accumulated other comprehensive loss	(1,910)	(1,280)
Accumulated deficit	(194,605)	(135,131)
Total stockholders’ equity	116,969	162,157
Total liabilities and stockholders’ equity	$ 467,999	$ 457,838

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidated Balance Sheets - (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts and sales returns	$ 1,906	$ 1,615
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares, issued	42,659,234	42,060,865
Common stock, shares, outstanding	42,659,234	42,060,865

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue	$ 245,956	$ 204,914	$ 158,811
Cost of products sold	62,883	51,385	41,356
Amortization of acquired inventory step-up	251	2,074	0
Gross profit	182,822	151,455	117,455
Operating expenses:
Selling, general and administrative	143,355	128,129	91,750
Research, development and other technology	64,436	28,675	22,080
Medical device excise tax	3,465	2,834	2,138
Acquisition transaction, integration and legal costs	29,472	17,288	0
Intangible asset amortization	13,275	6,335	901
Contingent consideration expense	2,671	2,070	867
Change in fair value of contingent consideration liability	(25,819)	(1,064)	(5,165)
Intangible asset impairment	2,496	4,138	4,490
Total operating expenses	233,351	188,405	117,061
Operating (loss) income	(50,529)	(36,950)	394
Other expense:
Interest (expense) income	(7,850)	(4,062)	3
Foreign currency transaction (loss) gain	(369)	(211)	13
Total other (expense) income	(8,219)	(4,273)	16
(Loss) income before income taxes	(58,748)	(41,223)	410
Income tax expense (benefit)	726	(322)	780
Net loss	$ (59,474)	$ (40,901)	$ (370)
Net loss per share:
Net loss per share, basic and diluted	$ (1.40)	$ (0.98)	$ (0.01)
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments	$ (630)	$ (975)	$ 313
Comprehensive loss, net of tax	$ (60,104)	$ (41,876)	$ (57)
Weighted average common shares outstanding:
Basic and diluted	42,430,221	41,679,369	38,940,544

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period (shares) at Dec. 31, 2012		34,887,763
Balance at the beginning of the period at Dec. 31, 2012	$ 88,697	$ 35	$ 183,140	$ (93,860)	$ (618)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net of tax	(57)			(370)	313
Exercise of stock options (shares)		723,067
Exercise of stock options	4,053	$ 0	4,053
Shares purchased under employee stock purchase plan (shares)		104,781
Shares purchased under employee stock purchase plan	1,172		1,172
Issuance of restricted stock and vesting of restricted stock units (shares)		52,175
Issuance of common stock in secondary public offering, net of offering costs (shares)		5,462,500
Issuance of common stock in secondary public offering, net of offering costs	92,034	$ 6	92,028
Paid in capital from stock-based compensation expense	4,101		4,101
Balance at the end of the period (shares) at Dec. 31, 2013		41,230,286
Balance at the end of the period at Dec. 31, 2013	190,000	$ 41	284,494	(94,230)	(305)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net of tax	(41,876)			(40,901)	(975)
Exercise of stock options (shares)		672,739
Exercise of stock options	4,811	$ 1	4,810
Shares purchased under employee stock purchase plan (shares)		94,432
Shares purchased under employee stock purchase plan	906		906
Issuance of restricted stock and vesting of restricted stock units (shares)		63,408
Paid in capital from stock-based compensation expense	$ 8,316		8,316
Balance at the end of the period (shares) at Dec. 31, 2014	42,060,865	42,060,865
Balance at the end of the period at Dec. 31, 2014	$ 162,157	$ 42	298,526	(135,131)	(1,280)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net of tax	$ (60,104)			(59,474)	(630)
Exercise of stock options (shares)	375,046	375,046
Exercise of stock options	$ 1,778	$ 0	1,778
Shares purchased under employee stock purchase plan (shares)		153,865
Shares purchased under employee stock purchase plan	3,027		3,027
Issuance of restricted stock and vesting of restricted stock units (shares)		69,458
Issuance of common stock in secondary public offering, net of offering costs	0	$ 0	0
Paid in capital from stock-based compensation expense	$ 10,111		10,111
Balance at the end of the period (shares) at Dec. 31, 2015	42,659,234	42,659,234
Balance at the end of the period at Dec. 31, 2015	$ 116,969	$ 42	$ 313,442	$ (194,605)	$ (1,910)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (59,474)	$ (40,901)	$ (370)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	26,588	16,813	10,610
Stock-based compensation expense	10,111	8,316	4,101
Amortization of debt issuance costs	993	562	0
Provision for excess and obsolete inventories	981	426	213
Intangible asset impairment	2,496	4,138	4,490
Contingent consideration expense	2,671	2,070	867
Change in fair value of contingent consideration liability	(25,818)	(1,064)	(5,165)
Deferred income taxes	486	(909)	386
Changes in operating assets and liabilities:
Trade accounts receivable	(2,720)	(6,369)	(6,463)
Inventories	497	(2,960)	(359)
Equipment held for rental or loan, net	(12,098)	(9,232)	(6,812)
Prepaid expenses and other current assets	2,906	(5,028)	(265)
Other assets	(686)	(91)	31
Accounts payable and accrued liabilities	(6,160)	13,650	3,343
Deferred revenue	(232)	130	(394)
Net cash (used in) provided by operating activities	(59,459)	(20,449)	4,213
Cash flows from investing activities:
Capital expenditures	(9,538)	(6,722)	(4,620)
Payments for acquisitions	(30,000)	(233,978)	(6,500)
Net cash used in investing activities	(39,538)	(240,700)	(11,120)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes	0	230,000	0
Proceeds from issuance of term loan	60,000	0	0
Proceeds from line of credit, net	24,232	0	0
Debt issuance costs	(405)	(7,474)	0
Net proceeds from stock offering	0	0	92,034
Proceeds from the exercise of stock options and employee stock purchase plan	4,805	5,717	5,225
Payment of contingent consideration	(393)	0	0
Net cash provided by financing activities	88,239	228,243	97,259
Effect of exchange rate changes on cash	(153)	16	268
Net (decrease) increase in cash and cash equivalents	(10,911)	(32,890)	90,620
Cash and cash equivalents at beginning of year	95,505	128,395	37,775
Cash and cash equivalents at end of year	84,594	95,505	128,395
Supplemental disclosures of cash flow information:
Cash paid for interest	6,457	3,031	41
Cash paid for taxes	$ 327	$ 787	$ 357

Summary of Significant Accounti

Summary of Significant Accounting Policies Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization, Nature of Business, and Basis of Presentation The accompanying consolidated financial statements include the accounts of The Spectranetics Corporation, a Delaware corporation, and its wholly-owned Dutch subsidiary, Spectranetics International, B.V., including the accounts of the wholly-owned subsidiaries of Spectranetics International, B.V.: Spectranetics II B.V., Spectranetics Deutschland GmbH, Spectranetics Austria GmbH, Spectranetics France SARL, Spectranetics Switzerland GmbH, and Spectranetics Denmark ApS. The consolidated financial statements as of and for the year ended December 31, 2015 also include the accounts of The Spectranetics Corporation’s wholly-owned subsidiary, AngioScore Inc., which was acquired on June 30, 2014. The aforementioned entities are collectively referred to as the “Company.” All intercompany balances and transactions have been eliminated in consolidation. The Company develops, manufactures, markets, and distributes medical devices and products used in minimally invasive procedures within the cardiovascular system. The Company’s devices and products are sold in over 65 countries and are used to cross, prepare, and treat arterial blockages in the legs and heart and to remove pacemaker and defibrillator cardiac leads. In June 2014, the Company acquired AngioScore, a leading developer, manufacturer and marketer of cardiovascular, specialty balloon catheters, and in January 2015, the Company acquired the Stellarex™ drug-coated balloon assets from Covidien LP. Use of Estimates Preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management of the Company to make several estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, goodwill and intangible assets; valuation allowances for receivables, inventories and deferred income tax assets; contingent consideration liabilities for acquisitions; stock-based compensation expense; estimated clinical trial expenses; accrued costs for incurred but not reported claims under partially self-insured employee health benefit programs; and loss contingencies, including those related to litigation. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current year presentation. Debt issuance costs associated with noncurrent liabilities that were previously presented as an asset have been reclassified as a reduction to their corresponding noncurrent liability on the consolidated balance sheets for all periods presented. In addition, current deferred tax assets that were previously presented as an asset have been reclassified and netted with long-term deferred tax liabilities on the consolidated balance sheets for all periods presented. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. At times, the Company maintains deposits in financial institutions in excess of federally insured limits. Financial Instruments Financial instruments included in our financial statements are comprised of cash and cash equivalents, trade accounts receivable, accounts payable, certain accrued liabilities, a line of credit facility (the “Revolving Loan Facility”), convertible senior notes (“Notes”), a term loan facility (the “Term Loan Facility”) and contingent consideration liabilities. Fair-Value Measurements Fair value is defined as an exit price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Authoritative guidance establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities. • Level 1 Inputs - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 Inputs - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 Inputs - Unobservable inputs for the asset or liability. The Company’s cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are carried at amortized cost, as the fair values of these instruments approximate their carrying values due to their short-term nature. As of December 31, 2015 , cash equivalents consisted of money market accounts and U.S. treasury securities with original maturities of three months or less, which the Company classified as Level 1, given the active market for these accounts. The fair value of the Notes is influenced by interest rates, the stock price of the Company’s common stock, and stock price volatility, which is determined by market trading. As of December 31, 2015 , the estimated fair value of the Notes was $174.8 million and was determined based on quoted market prices in a secondary market, which is considered a Level 2 Input measurement. The carrying amounts of the Term Loan Facility and Revolving Loan Facility are considered reasonable estimates of fair value due to their floating-rate terms. See further discussion of these items in Note 12, “Debt.” Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance for doubtful accounts based upon an aging of accounts receivable, historical experience and management judgment. Larger or past due accounts receivable balances are reviewed individually for collectibility. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is remote. Inventory Inventory is recorded at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company calculates inventory reserves for estimated obsolescence or excess inventory based on historical usage and sales, and assumptions about future demand for and utilization of its products, and these reserves create a new cost basis for the subsequent accounting of the inventory. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is recorded to cost of goods sold. Property and Equipment Property and equipment are recorded at cost. Repairs and maintenance costs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets of three to five years for manufacturing equipment, equipment held for rental or loan, computers, and furniture and fixtures. The building the Company owns, which had been a manufacturing facility and now houses certain general operations, is depreciated using the straight-line method over its estimated useful life of 20 years. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset. Goodwill and Other Intangible Assets Goodwill represents the excess of costs over the fair value of the identifiable net assets of businesses acquired. Goodwill and intangible assets acquired in a business combination and determined to have indefinite useful lives are not amortized, but instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In evaluating goodwill and indefinite-lived intangible assets, the Company performs an assessment of qualitative factors to determine if goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment test. The Company conducts its annual impairment test as of December 31 of each year. See further discussion in Note 5, “Goodwill and Other Intangible Assets.” Long-Lived Assets The Company reviews long-lived assets and certain identifiable intangibles for impairment whenever events or circumstances indicate the carrying amount of an asset may not be recoverable. The carrying value of a long-lived asset is considered impaired when the expected undiscounted cash flows from such asset are separately identifiable and are less than the carrying value. Fair value is determined by reference to quoted market prices, if available, or the utilization of certain valuation techniques such as cash flows discounted at a rate commensurate with the risk involved. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less selling costs. In 2014 and 2013, the Company recorded an intangible asset impairment charge for intangible assets acquired in 2013, as further discussed in Note 5, “Goodwill and Other Intangible Assets.” Intangible assets with finite lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets with finite lives, which consist primarily of technology intangible assets, customer relationships, trademarks, and trade names, are amortized using the straight-line method over periods that currently range from two to twelve years. In-Process Research and Development The Company defines in process research and development (“IPR&D”) as the value of technology acquired for which the related products have not yet reached technological feasibility and have no future alternative use. The primary basis for determining the technological feasibility of these projects is obtaining regulatory approval to market the underlying products in an applicable geographic region. IPR&D acquired in a business combination requires the estimated fair value of IPR&D to be capitalized as an indefinite-lived intangible asset until completion or abandonment of the IPR&D project. Upon completion of the development project, the IPR&D is amortized over its estimated useful life. If the IPR&D projects are abandoned, the related IPR&D assets would be written off. The estimated fair value of IPR&D is determined using an income approach model. In 2015, the Company recorded an intangible asset impairment charge related to a partial impairment of the IPR&D intangible assets acquired as part of the AngioScore acquisition. At December 31, 2015 , IPR&D represented an estimate of the fair value of in-process technology acquired in the AngioScore and Stellarex acquisitions. See further discussion in Note 2, “Business Combinations.” Revenue Recognition The Company recognizes revenue when all of the following criteria are met: persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectibility is reasonably assured. Revenue from the sale of the Company’s disposable products is recognized when products are shipped to the customer and title transfers. In general, customers do not have a right of return for credit or refund. However, the Company allows returns under certain circumstances and records an allowance for sales returns based upon an analysis of revenue transactions and historical experience of sales returns. Write-offs to customer account balances for product returns are charged against the allowance for sales returns. Revenue from the sale of CVX-300 laser systems is recognized after completion of contractual obligations, which generally include delivery and installation of the systems. The Company’s field service engineers are responsible for installation of each laser system. The Company generally provides a one-year warranty on laser sales, which includes parts, labor and replacement gas. Upon expiration of the warranty period, the Company offers similar service to its customers under annual service contracts or on a fee-for-service basis. Revenue from fee-for-service arrangements is recognized upon completion of the related service. The Company accounts for service provided during the one-year warranty or service contract period as a separate unit of accounting. As such, the fair value of this service is deferred and recognized as revenue on a straight-line basis over the related warranty or service contract term, and warranty and service costs are expensed in the period they are incurred. Revenue recognized associated with service performed during the warranty period totaled $0.6 million , $0.7 million and $0.7 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The Company offers four laser system placement programs, which are described below, in addition to the sale of laser systems: Straight rental program. The Company offers a straight monthly rental program for laser systems, and customers pay rent of $2,500 to $3,500 per month under this program. Rental revenue is invoiced and recognized monthly. The laser system is transferred to the equipment held for rental or loan account upon shipment, and depreciation expense is included in cost of revenue based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. Volume-based rental programs. Rental revenue under these programs varies on a sliding scale depending on the customer’s purchases of disposable products (either unit or dollar volume) each month. Rental revenue is invoiced and recognized monthly. The laser system is transferred to the equipment held for rental or loan account upon shipment, and depreciation expense is included in cost of revenue based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. Capital included rental program. Under this program, the customer agrees to a catheter price list that includes a per-unit surcharge covering the cost of the laser system. Customers are expected, but not required, to make minimum purchases of catheters at regular intervals, and the Company reserves the right to require the customer to return the laser system if the customer does not make minimum purchases of catheters. The Company recognizes the total surcharge as rental revenue upon shipment of the catheters, believing it to be the best measurement of revenue associated with the customer’s use of the laser system. The laser system is transferred to the equipment held for rental or loan account upon shipment, and depreciation expense is included in cost of revenue based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. Evaluation program. The Company loans laser systems to institutions for use over a short period, usually three months. The loan of the equipment is to create awareness of the Company’s products and allows users to assess their therapeutic capabilities. While no revenue is earned or recognized in connection with the placement of a loaned laser, sales of disposable products result from the laser placement. The laser system is transferred to the equipment held for rental or loan account upon shipment and depreciation expense is recorded within selling, general and administrative expense based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. The Company sells to end-users in the United States and internationally as well as to certain international distributors. Sales to international distributors represented approximately 8% of the Company’s total revenue in 2015 . Distributor agreements are in place with each distributor, which outline the significant terms of the transactions between the distributor and the Company. The terms and conditions of sales to the Company’s international distributors do not differ materially from the terms and conditions of sales to its domestic and international end-user customers. Sales to distributors are recognized either at shipment or a later date in accordance with the agreed upon contract terms with distributors, provided that the Company has received an order, the price is fixed or determinable, collectibility of the resulting receivable is reasonably assured, all contractual obligations have been met and the Company can reasonably estimate returns. The Company provides products to its distributors at agreed wholesale prices and typically does not provide any special right of return or exchange, discounts, significant sales incentives, price protection or stock rotation rights to any of its distributors. Deferred Revenue Deferred revenue was $1.6 million and $1.9 million at December 31, 2015 and 2014 , respectively. These amounts primarily relate to payments in advance for various product maintenance contracts in which revenue is initially deferred and recognized over the life of the contract, which is generally one year, and to deferred revenue associated with service provided to customers during the warranty period after the sale of laser systems. Medical Device Excise Tax The Patient Protection and Affordable Care Act of 2010 imposes a medical device excise tax on medical device manufacturers on their sales in the U.S. of certain devices, which was effective January 1, 2013. The excise tax is 2.3% of the taxable base and applies to a substantial majority of the Company’s U.S. sales. For the years ended December 31, 2015 and 2014 , the Company incurred $3.5 million and $2.8 million of excise tax, respectively, which is recorded in the consolidated statements of operations and comprehensive loss as an operating expense under the caption “Medical device excise tax.” In December 2015, legislation was enacted that suspends the medical device excise tax for 2016 and 2017. Stock-Based Compensation The Company measures all employee stock-based compensation awards using a fair value method and records such expense in its consolidated financial statements. The estimated value of the portion of the award that is ultimately expected to vest, taking into consideration estimated forfeitures based on the Company’s historical forfeiture rate, is recognized as expense over the requisite service periods in the Company’s consolidated statements of operations and comprehensive loss. The Company estimates the grant date fair value of stock option awards generally on the date of grant using the Black-Scholes option pricing model. For certain options, which contained vesting provisions that included a share price trigger, the Company estimated the fair value of the options using a trinomial lattice model. With respect to performance stock units (“PSUs”), the number of shares that vest and are issued to the recipient is based upon the Company’s performance as measured against specified targets over a three -year period. The fair value of the PSUs is based on the Company’s closing stock price on the grant date and its estimate of achieving such performance targets. See further discussion and disclosures in Note 8, “Stock-based Compensation and Employee Benefit Plans.” Research, Development and Other Technology Research, development and other technology costs are expensed as incurred and totaled $64.4 million , $28.7 million , and $22.1 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. In addition to product development costs, research, development and other technology costs include royalty expenses that the Company pays to license certain intellectual property incorporated in the Company’s products. Royalty expenses totaled $3.6 million , $2.7 million , and $2.0 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Clinical trial costs. The Company sponsors clinical trials intended to obtain the necessary clinical data required to obtain approval from the U.S. Food and Drug Administration (“FDA”) and foreign regulatory agencies to market new applications of its technology. Costs associated with these clinical trials are also included within research, development and other technology costs and totaled $20.0 million , $4.1 million , and $3.8 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. In certain cases, substantial portions of the Company’s clinical trials are performed by third-party clinical research organizations (“CROs”). These CROs generally bill monthly for services performed and also bill based upon milestone achievement. The Company accrues for services as provided, when services are performed before milestone payments are made. If the Company prepays CRO fees or milestone payments, the Company records the prepayment as a prepaid asset and amortizes the asset into research, development and other technology expense over the period of time the contracted services are performed based upon the number of patients enrolled, “patient months” incurred and the duration of the study. The Company monitors patient enrollment, the progress of clinical studies and related activities through internal reviews of data reported to the Company by the CROs and correspondence with the CROs. The Company periodically evaluates its estimates to determine if adjustments are necessary or appropriate based on information it receives. Foreign Currency Translation The Company’s reporting currency is the U.S. dollar. Certain transactions of the Company and its subsidiaries are denominated in currencies other than the U.S. dollar. The functional currency of the Company’s foreign operations generally is the applicable local currency. Assets and liabilities of non-U.S. dollar functional currency entities are translated to U.S. dollars at period-end exchange rates, and the resulting gains and losses arising from the translation of those net assets are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive loss on the consolidated balance sheets. Elements of the consolidated statements of operations and comprehensive loss are translated at the average monthly currency exchange rates in effect during the period and foreign currency transaction gains and losses are included in other income (expense). Advertising Costs The Company expenses advertising costs as incurred. Advertising costs of approximately $1.6 million , $2.0 million and $1.9 million were expensed for the years ended December 31, 2015 , 2014 and 2013 , respectively. Medical Self-insurance Costs The Company is partially self-insured for claims relating to employee medical and dental benefit programs. The medical self-insurance program is administered by a third-party and contains stop-loss provisions on both an individual claim basis and in the aggregate. The Company records claims incurred as an expense each period, including an estimate of claims incurred but not yet reported, which is revised quarterly. The Company uses claims data and historical experience, as applicable, to estimate the liability for unreported claims. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, operating losses and research and development and alternative minimum tax credit carryforwards. A valuation allowance is required to the extent it is more-likely-than-not that a deferred tax asset will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company recognizes the financial statement effects of a tax position when it is more-likely-than-not, based on technical merits, that the position will be sustained upon examination. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the consolidated statements of operations and comprehensive loss or on the consolidated balance sheet. See further discussion and disclosures in Note 13, “Income Taxes.” Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of debt issuance costs will continue to be reported as interest expense. ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The new guidance is applied retrospectively to each prior period presented. Adoption of ASU 2015-03 changed the presentation of debt issuance costs on the Company’s consolidated balance sheets by eliminating the debt issuance costs asset and reducing the liability of the Company’s debt by the amount of net debt issuance costs. The Company early adopted the provisions of this ASU during the fourth quarter of 2015 and retrospectively applied ASU 2015-03 to all periods presented. Upon adoption, the Company reclassified its debt issuance costs associated with noncurrent liabilities from an asset to a noncurrent liability on its consolidated balance sheets for all periods presented. As a result of these reclassifications, the Company’s debt issuance costs of $7.3 million and $6.9 million as of December 31, 2015 and 2014, respectively, were netted with their noncurrent liabilities of $290.0 million and $230.0 million as of December 31, 2015 and 2014, respectively. Adoption of this standard did not impact results of operations, retained earnings, or cash flows in the current or previous interim and annual reporting periods. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which will replace most existing revenue recognition guidance in U.S. GAAP. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. To achieve this core principle, ASU 2014-09 contains a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when (or as) an entity satisfies a performance obligation. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date of ASU 2014-09 for all entities by one year. As a result, ASU 2014-09 is now effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 and allows for both retrospective and prospective methods of adoption. The Company is in the process of determining the method and date of adoption and assessing the impact of ASU 2014-09 on its results of operations, financial position, and consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . The update requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amounts as if the accounting had been completed at the acquisition date. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The Company does not expect ASU 2015-16 to have a material impact on its results of operations, financial position, and consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this update simplify the presentation of deferred taxes by requiring deferred tax assets and liabilities be classified as noncurrent on the balance sheet. These amendments may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Company early adopted the provisions of this ASU during the fourth quarter of 2015 and retrospectively applied ASU 2015-17 to all periods presented. Upon adoption, the Company netted its current deferred tax assets with its noncurrent deferred tax liabilities on its consolidated balance sheets for all periods presented. As a result of these reclassifications, the Company’s current deferred tax assets of $1.7 million and $2.2 million as of December 31, 2015 and 2014, respectively, were netted with its noncurrent deferred tax liabilities of $3.6 million and $3.7 million as of December 31, 2015 and 2014, respectively. Adoption of this standard did not impact results of operations, retained earnings, or cash flows in the current or previous interim and annual reporting periods. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , intended to improve financial reporting related to leasing transactions. This update requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve months. The accounting by lessors will remain largely unchanged from current U.S. GAAP. For public companies, the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company is in the process of determining the method and date of adoption and assessing the impact of ASU 2016-02 on its results of operations, financial position, and consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe they are of significance, or potential significance, to the Company.

Business Combinations Business

Business Combinations Business Combinations	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS Stellarex On January 27, 2015 (“Acquisition Date”), the Company acquired certain assets related to the Stellarex over-the-wire percutaneous transluminal angioplasty balloon catheter with a drug (paclitaxel) coated balloon (“DCB Assets”), pursuant to an Asset Purchase Agreement, dated as of October 31, 2014 (“Stellarex Purchase Agreement”) with Covidien LP (“Stellarex Acquisition”). The DCB Assets include, among other things, the intellectual property, machinery and equipment, and inventories used in connection with the Stellarex catheter. The primary reasons for the Stellarex Acquisition were to broaden the Company’s existing product lines, leverage its current customers, and increase revenue. Under the terms of the Stellarex Purchase Agreement, the Company paid Covidien $30 million in cash and Covidien retained certain liabilities relating to the DCB Assets. The Company accounted for the Stellarex Acquisition as a business combination and recorded the assets acquired and liabilities assumed at their respective estimated fair values as of the Acquisition Date. During 2015, the Company finalized the purchase price allocation. The following table summarizes the allocations to the assets acquired: (in thousands) Allocation of purchase price Amortization period (in years) Inventories $ 1,337 Property and equipment, net 2,701 Total tangible assets acquired 4,038 Less: above market lease assumed 293 Net tangible assets acquired $ 3,745 Intangible assets: In-process research and development (“IPR&D”) 13,680 Technology 9,000 12 Trademark and trade names 400 12 Transition services agreement 530 0.5 Goodwill 2,645 Total purchase price $ 30,000 The Company determined the estimated fair value of the inventory based on its estimated selling price less cost to sell and normal profit margin, or in the case of inventory expected to be consumed in clinical studies, on replacement cost. The Company recorded the property and equipment at its estimated fair value at the Acquisition Date. The IPR&D asset, which is accounted for as an indefinite-lived intangible asset until completion or abandonment of the project, represents an estimate of the fair value of in-process technology related to the Stellarex products that are currently the subject of clinical studies in advance of their potential introduction to the U.S. market, as well as the below the knee applications of the Stellarex technology, which are also currently in development. The estimated fair value was determined using the income approach. The estimated fair value of the technology intangible asset, which relates to Stellarex products that have already received clearance to be made commercially available in the European market, was also determined using the income approach. The trademark and trade names were valued based on the “relief from royalty” method. The “relief from royalty” method is based on the premise that a third party would be willing to pay a royalty to use the trade name or trademark asset owned by the subject company. The projected royalties are converted into their present value equivalents through the application of a risk-adjusted discount rate. The transition services agreement was valued based on the estimated fair value of services provided by Covidien to the Company under the agreement. These fair value measurements are based on significant unobservable inputs, which are classified as Level 3 within the fair value hierarchy based on management’s estimates and assumptions. The Company recorded the excess of the aggregate purchase price over the estimated fair values of the identifiable net assets acquired as goodwill, which is deductible for tax purposes. Goodwill is primarily attributable to the benefits of the acquired workforce and future technologies, which will be developed from the current and IPR&D technologies to further expand the Company’s product offerings and applications of the technology. Goodwill was allocated to the Company’s operating segments based on the relative expected benefits as disclosed in Note 5, “Goodwill and Intangible Assets.” The assets and liabilities assumed in the Stellarex Acquisition were included in the Company’s consolidated balance sheet as of January 27, 2015. Beginning on January 27, 2015, revenue, costs of products sold and operating expenses related to the DCB Assets have been included in the Company’s consolidated financial statements in the Company’s U.S. Medical and International Medical reportable operating segments. Revenue from Stellarex products from January 27, 2015 through December 31, 2015 was immaterial and is included in the Company’s consolidated statements of operations and comprehensive loss for the year ended December 31, 2015 . Losses attributable to Stellarex from January 27 through December 31, 2015 were $44.4 million and primarily included research and development and clinical trial costs, included within the “Research, development and other technology” line of the consolidated statements of operations and comprehensive loss. Also included in the losses attributable to Stellarex above were acquisition and integration expenses that totaled $8.0 million for the year ended December 31, 2015 , and primarily included non-recurring costs associated with establishing manufacturing operations to support the Stellarex program, and investment banking and legal fees incurred in connection with the acquisition. These costs are included within the “Acquisition transaction, integration and legal costs” line of the consolidated statements of operations and comprehensive loss. AngioScore On June 30, 2014, the Company completed its acquisition of AngioScore, Inc. At the date of acquisition, the Company recorded total contingent consideration of $25.9 million . The fair value of contingent consideration liabilities was determined using a probability-weighted approach to estimate the achievement of the future revenue and regulatory approval milestones and discount rates ranging from 9% to 19% . The selection of the discount rates reflects the inherent risks related to achieving the respective milestones. These fair value measurements are based on significant unobservable inputs, which are classified as Level 3 within the fair value hierarchy, based on management’s estimates and assumptions. The fair value of the contingent milestone consideration is remeasured at the estimated fair value at each reporting period. Therefore, any changes in the fair value impacts our reported earnings in each reporting period, thereby resulting in variability in our earnings. Contingent consideration arrangements obligate us to pay former shareholders of an acquired entity if specified future events occur or conditions are met such as the achievement of certain technological milestones or the achievement of targeted revenue milestones. We measure such liabilities using Level 3 unobservable inputs, applying the income approach, such as the discounted cash flow technique, or the probability-weighted scenario method. We use various key assumptions, such as the probability of achievement of the agreed milestones and the discount rate, in our determination of the fair value of contingent consideration. We monitor the fair value of the contingent consideration and the subsequent revisions are reflected in our consolidated statements of operations. During 2015, the Company remeasured the contingent consideration liability related to the AngioScore acquisition to its fair value and reduced it by approximately $25.8 million . Of this amount, $21.5 million was a result of a decrease in future revenue estimates for the AngioSculpt products. The remaining $4.3 million was a result of an analysis performed by the Company related to the costs and efforts, including product testing, validation, coating and process testing, and regulatory requirements, remaining to complete the Drug-Coated AngioSculpt (“DCAS”) projects, which are subject to contingent regulatory milestone payments. This analysis resulted in a determination that it was unlikely the Company would meet the regulatory milestones for two of the three DCAS projects within the time frame and with the expenditure of funds set forth in the acquisition agreement. Related to the regulatory milestone assessment, the Company evaluated the IPR&D associated with the product development projects for impairment using the income approach, and determined that a portion of the IPR&D was impaired. Therefore, the Company also recorded an impairment of the IPR&D intangible asset of $2.5 million during the third quarter of 2015. The following table presents changes to the Company’s acquisition-related contingent consideration for the periods ending December 31, 2015 and 2014: 2015 2014 Beginning balance $ 28,694 $ 1,802 Purchase price contingent consideration — 25,886 Change in fair value of contingent consideration (25,819 ) (1,064 ) Contingent consideration payments (393 ) — Contingent consideration accretion expense 2,671 2,070 Ending balance $ 5,153 $ 28,694 During 2015, the Company recorded $0.3 million of amortization of the acquired inventory step-up, reflected as “Amortization of acquired inventory step-up” in the consolidated statements of operations and comprehensive loss, increasing cost of products sold. Expenses related to the acquisition of AngioScore and the subsequent integration of its operations were $21.5 million for the year ended December 31, 2015 , and primarily included legal fees, including legal fees and costs advanced associated with a patent and breach of fiduciary duty matter in which AngioScore is the plaintiff. See Note 14, “Commitments and Contingencies.” These expenses are included within the “Acquisition transaction, integration and legal costs” line of the consolidated statements of operations and comprehensive loss. Unaudited Supplemental Pro Forma Financial Information The table below provides certain pro forma financial information for the Company as if the Stellarex and Angioscore acquisitions had been consummated as of January 1, 2014. Certain pro forma adjustments have been made to reflect the impact of the purchase transactions, primarily consisting of amortization of intangible assets with determinable lives and interest expense on long-term debt. The pro forma information does not include the nonrecurring charges that resulted directly from the transaction such as investment banking and legal fees of $1.7 million and $5.7 million incurred during the years ended December 31, 2015 and 2014 , respectively. The pro forma information does not necessarily reflect the actual results of operations had the acquisitions been consummated at the beginning of the fiscal reporting period indicated nor is it indicative of future operating results. The pro forma information does not include any adjustment for potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisitions. Year Ended December 31, (in thousands) 2015 2014 Revenue $ 245,956 $ 235,318 Net loss (61,542 ) (88,597 ) Net loss per share $ (1.45 ) $ (2.13 )

Inventories Inventories

Inventories Inventories	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories, net, consisted of the following: December 31, (in thousands) 2015 2014 Raw materials $ 10,838 $ 9,012 Work in process 2,914 3,745 Finished goods 11,403 12,689 $ 25,155 $ 25,446 On January 27, 2015, the Company acquired approximately $1.3 million of inventories as part of the Stellarex Acquisition. As of December 31, 2015 , Stellarex inventories were approximately $2.1 million .

Property and Equipment Property

Property and Equipment Property and Equipment	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following: December 31, (in thousands) 2015 2014 Equipment held for rental or loan $ 55,774 $ 47,313 Manufacturing equipment and computers 37,862 29,692 Leasehold improvements 8,984 6,730 Furniture and fixtures 4,840 3,473 Building and improvements 1,306 1,288 Land 271 270 Less: accumulated depreciation and amortization (64,318 ) (54,947 ) Total property and equipment, net $ 44,719 $ 33,819 On January 27, 2015, the Company acquired approximately $2.7 million of property and equipment, net, as part of the Stellarex Acquisition. See Note 2, “Business Combinations,” for further discussion. Depreciation expense for the years ended December 31, 2015 , 2014 and 2013 was $12.3 million , $9.5 million and $8.8 million , respectively. In addition, software amortization expense for the years ended December 31, 2015 , 2014 and 2013 was $1.0 million , $0.9 million and $0.9 million , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill. The Company’s goodwill relates to the acquisition of the endovascular product lines of Kensey Nash Corporation in 2008, the acquisition of certain products from Upstream Peripheral Technologies Ltd. (“Upstream”) in January 2013, the AngioScore acquisition in 2014, and the Stellarex Acquisition in 2015. The change in the carrying amount of goodwill by reporting unit for the year ended December 31, 2015 was as follows: (in thousands) U.S. Medical International Medical Total Balance as of December 31, 2014 $ 128,361 $ 21,537 $ 149,898 Goodwill acquired during the year (Note 2) 1,984 661 2,645 Other 65 8 73 Balance as of December 31, 2015 $ 130,410 $ 22,206 $ 152,616 Goodwill is allocated to the Company’s operating segments based on an analysis of both the relative historical and expected benefits. In 2015, management performed Step I of the goodwill impairment test and evaluated the recoverability of goodwill of each of its reporting units by comparing the fair value of each reporting unit with its carrying value. The fair values of the reporting units were determined using a discounted cash flow analysis. The Step 1 test for each reporting unit was performed on both a total equity and total asset basis. As of the measurement date, the estimated fair values of each reporting unit exceeded their respective carrying values. Therefore, the $152.6 million of goodwill on the consolidated balance sheets as of December 31, 2015 was not at risk of failing Step 1 of the impairment test. Intangible Assets. Acquired intangible assets as of December 31, 2015 and 2014 consisted of the following: (in thousands) December 31, 2015 December 31, 2014 Acquired as part of AngioScore acquisition (Note 2): Technology $ 73,510 $ 73,510 Customer relationships 23,320 23,320 Trademark and trade names 4,380 4,380 In-process research and development 1,254 3,750 Distributor relationships 1,940 1,940 Non-compete agreements 580 580 Acquired as part of Stellarex Acquisition (Note 2): In-process research and development 13,680 — Technology 9,000 — Trademark and trade names 400 — Transition services agreement 530 — Acquired as part of Upstream acquisition Technology 2,172 2,172 Non-compete agreement 200 200 Patents 530 530 Less: accumulated amortization (21,040 ) (7,766 ) $ 110,456 $ 102,616 See further discussion of the additional goodwill and intangible assets acquired as part of the Stellarex Acquisition in Note 2 “Business Combinations.” The Company evaluates intangible assets for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In conjunction with the reductions of the contingent consideration liability related to the AngioScore acquisition (see Note 2), the Company also evaluated the intangible assets acquired for impairment. During 2015, the Company determined that a portion of the IPR&D intangible asset was impaired. The Company therefore recorded an impairment of the IPR&D intangible asset of $2.5 million , which is included in the U.S. Medical reporting segment. For the intangible assets other than IPR&D, the Company determined that the estimated undiscounted cash flows of the intangible assets exceeded their carrying amounts. Therefore, no impairment of these other intangible assets was required. During 2014 and 2013, the Company recorded intangible asset impairment charges of approximately $4.1 million and $4.5 million , respectively, related to the intangible assets acquired as part of the Upstream acquisition, as a result of market factors associated with the access and overall retrograde interventional market and other relevant factors. Aggregate amortization expense for amortizing intangible assets was $13.3 million , $6.3 million and $0.9 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The IPR&D is not amortized until completion of the project. As of December 31, 2015 , estimated future amortization expense for intangible assets subject to amortization was as follows: (in thousands) Amortization Expense Years ending December 31: 2016 $ 12,180 2017 11,462 2018 11,196 2019 11,196 2020 10,831 Thereafter 38,657 $ 95,522

Accrued Liabilities Accrued Lia

Accrued Liabilities Accrued Liabilities	12 Months Ended
	Dec. 31, 2015
Accrued Liabilities [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of the following: December 31, (in thousands) 2015 2014 Accrued payroll and employee-related expenses $ 15,797 $ 21,483 Contingent consideration, current portion 4,891 143 Accrued clinical study expense 3,868 1,358 Deferred rent 1,485 1,214 Accrued sales, income and excise taxes 1,318 1,847 Accrued royalties 1,044 841 Accrued interest 913 503 Accrued legal costs 713 4,793 Other accrued expenses 5,143 4,092 Total accrued liabilities 35,172 36,274 Less: long-term portion (1,496 ) (1,222 ) Accrued liabilities, current portion $ 33,676 $ 35,052

Common Stock Offering Common St

Common Stock Offering Common Stock Offering	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common Stock Offering	COMMON STOCK OFFERING On May 1, 2013, the Company completed an offering of 5,462,500 shares, par value $0.001 per share, of its common stock at a public offering price of $18.00 per share minus the underwriters’ discount of $1.08 per share. The Company received net proceeds of approximately $92.0 million , after deducting underwriting discounts and commissions and offering expenses (approximately $0.4 million ) paid by the Company.

Stock-Based Compensation and Em

Stock-Based Compensation and Employee Benefit Plans Stock-Based Compensation and Employee Benefit Plans	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation and Employee Benefit Plans	STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS At December 31, 2015 and 2014 , the Company had two stock-based compensation plans and a 401(k) plan. These plans are described below. (a) Stock Option Plan The Company maintains stock option plans that provide for the grant of incentive stock options, nonqualified stock options, restricted stock awards, restricted stock units, PSUs and stock appreciation rights. The plans provide that stock options may be granted with exercise prices not less than the fair market value at the date of grant. Options granted through December 31, 2015 generally vest over four years and expire ten years from the date of grant. Restricted stock awards granted to non-employee members of the Board of Directors vest over one year . Restricted stock units granted to certain officers of the Company vest over four years . At December 31, 2015 , there were 2.2 million shares available for future issuance under these plans, assuming issuance of PSUs at target performance. In June 2014, the Compensation Committee of the Board of Directors approved a grant of PSUs to certain of the Company’s officers. PSUs vest based on achieving specified performance measurements over a three -year “cliff” performance period plus an additional one-year “cliff” time vesting. The PSUs have payout opportunities of between 0% and 250% . The performance targets include a compounded annual growth rate for revenue over a three-year period and Adjusted EBITDA for the year ended December 31, 2016. Valuation and Expense Information The Company recognized stock-based compensation expense of $10.1 million , $8.3 million and $4.1 million for the years ended December 31, 2015 , 2014 and 2013 , respectively, which consisted of compensation expense related to (1) employee stock options based on the value of share-based payment awards that are ultimately expected to vest during the period, (2) restricted stock awards issued to certain of the Company’s directors, (3) restricted stock units and PSUs issued to certain of the Company’s officers, and (4) the fair value of shares issued under the Company’s employee stock purchase plan. Stock-based compensation expense is recognized based on awards ultimately expected to vest and is reduced for estimated forfeitures. The Company recognizes compensation expense for non-performance awards on a straight-line basis over the service period. An income tax benefit of $2.4 million , $3.0 million , and $1.4 million related to the exercise of stock options during the years ended December 31, 2015 , 2014 and 2013 , respectively, will be added to other paid-in capital if, and when, the tax benefit is realized. With respect to the PSUs, the number of shares that vest and are issued to the recipient is based upon the Company’s performance as measured against the specified targets over a three -year period as determined by the Compensation Committee of the Board of Directors. The Company estimates the fair value of the PSUs based on its closing stock price at the time of grant and its estimates of achieving such performance targets and records compensation expense on a graded vesting attribution method, which recognizes compensation cost on a straight-line basis over each separately vesting portion of the award. Over the performance period, the number of shares of common stock that will ultimately vest and be issued and the related compensation expense is adjusted based upon the Company’s estimate of achieving such performance targets. The number of shares delivered to recipients and the related compensation cost recognized as an expense will be based on the actual performance metrics as set forth in the applicable PSU award agreement. In the fourth quarter of 2015, we revised our estimate related to the achievement of the PSU performance targets, the cumulative effect of which resulted in an approximate $1.7 million reversal of amounts previously recorded. The fair value of each share option award is estimated on the date of grant using the Black-Scholes pricing model based on assumptions noted in the following table. The Company’s employee stock options have various restrictions including vesting provisions and restrictions on transfers and hedging, among others, and are often exercised prior to their contractual expiration. Expected volatilities used in the fair value estimate are based on the historical volatility of the Company’s common stock. The Company uses historical data to estimate share option exercises, expected term and employee departure behavior used in the Black-Scholes pricing model. The risk-free rate for periods within the contractual term of the share option is based on the U.S. Treasury yield in effect at the time of grant. The following is a summary of the assumptions used for the stock options granted during the years ended December 31, 2015 , 2014 and 2013 using the Black-Scholes pricing model: Year Ended December 31, 2015 2014 2013 Expected life (years) 5.7 5.8 5.8 Risk-free interest rate 1.57 % 1.65 % 1.37 % Expected volatility 42.74 % 61.44 % 65.54 % Expected dividend yield — — — The weighted average grant date fair value of options granted during the years ended December 31, 2015 , 2014 and 2013 was $10.32 , $13.59 and $10.80 , respectively. The following table summarizes stock option activity during the year ended December 31, 2015 : Shares Weighted Average Exercise Price Weighted Avg. Remaining Contractual Term (In Years) Aggregate Intrinsic Value Options outstanding at January 1, 2015 2,698,911 $ 11.88 Granted 353,090 24.83 Exercised (375,046 ) 6.53 Canceled (110,867 ) 21.21 Options outstanding at December 31, 2015 2,566,088 $ 14.04 6.42 $ 10,131,561 Options exercisable at December 31, 2015 1,743,426 $ 10.63 5.48 $ 9,681,199 The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value based on the Company’s closing stock price of $15.06 on December 31, 2015 that would have been received by the option holders had all option holders exercised their options as of that date. The total number of shares underlying in-the-money options exercisable as of December 31, 2015 was approximately 1.3 million . The total intrinsic value of options exercised during the years ended December 31, 2015 , 2014 and 2013 was $8.3 million , $14.8 million and $9.2 million , respectively. The following table summarizes restricted stock award activity during the year ended December 31, 2015 : Shares Weighted Average Grant Date Fair Value Restricted stock awards outstanding at January 1, 2015 26,802 $ 22.39 Awarded 26,463 27.41 Vested (26,802 ) 22.39 Awards outstanding at December 31, 2015 26,463 $ 27.41 The following table summarizes restricted stock unit activity during the year ended December 31, 2015 : Shares Weighted Average Grant Date Fair Value Restricted stock units outstanding at January 1, 2015 182,016 $ 19.35 Awarded 98,169 26.67 Vested/Released (70,288 ) 15.36 Forfeited (5,004 ) 25.18 Restricted stock units outstanding at December 31, 2015 204,893 $ 24.08 The following table summarizes PSU activity during the year ended December 31, 2015 : Shares Weighted Average Grant Date Fair Value Performance stock units outstanding at January 1, 2015 487,158 $ 23.43 Awarded (at target performance) 26,240 11.79 Forfeited (16,742 ) 23.43 Performance stock units outstanding at December 31, 2015 496,656 $ 22.82 As of December 31, 2015 , there was $16.0 million of total unrecognized compensation expense related to non-vested share-based compensation arrangements granted under the Company’s stock option plans, using our current estimates of performance target achievement for the PSUs. Assuming the minimum of 0% and maximum of 250% payout opportunities for the PSUs, the range of total unrecognized compensation expense related to non-vested share-based compensation arrangements granted under the Company’s equity plans was between $10.9 million and $34.1 million as of December 31, 2015 . This expense is based on an assumed future forfeiture rate of approximately 3% per year for PSU awards and 6.68% per year for all other awards for Company employees and is expected to be recognized over a weighted-average period of approximately 2.3 years. (b) Employee Stock Purchase Plan In June 2010, the Company’s stockholders approved The Spectranetics Corporation 2010 Employee Stock Purchase Plan (“ESPP”). The ESPP provides for the sale of up to 700,000 shares of common stock to eligible employees, limited to the lesser of 2,500 shares per employee per six -month period or a fair market value of $25,000 per employee per calendar year. Stock purchased under the ESPP is restricted from sale for one year following the date of purchase. Stock can be purchased from amounts accumulated through payroll deductions during each six -month period. The purchase price is equal to 85% of the lower of the fair market value of the Company’s common stock at the beginning or end of the respective six -month offering period. This discount does not exceed the maximum discount rate permitted for plans of this type under Section 423 of the Internal Revenue Code of 1986, as amended. The ESPP is compensatory for financial reporting purposes. At December 31, 2015 , there were approximately 59,430 shares available for future issuance under this plan, all of which were to be issued upon settlement of purchases under the plan for the offering period that ended on December 31, 2015. The fair value of the shares offered for the six -month periods beginning January and July 2015 under the ESPP was determined on the date of grant using the Black-Scholes option-pricing model. The expected term of six months was based upon the offering period of the ESPP. Expected volatility was determined based on the historical volatility from daily share price observations for the Company’s stock covering a period commensurate with the expected term of the ESPP. The risk-free interest rate is based on the six-month U.S. Treasury daily yield rate. The expected dividend yield is based on the Company’s historical practice of electing not to pay dividends to its stockholders. For the years ended December 31, 2015 , 2014 and 2013 , the Company recognized $0.9 million , $0.8 million and $0.4 million of compensation expense, respectively, related to its ESPP. (c) 401(k) Plan The Company maintains a salary reduction savings plan under Section 401(k) of the Internal Revenue Code (“401(k) Plan”) that the Company administers for participating employees’ contributions. All full-time employees are covered under the 401(k) Plan after meeting minimum service requirements. The Company accrued and paid matching contributions of $1.8 million , $1.3 million , and $0.9 million to the 401(k) Plan for the years ended December 31, 2015 , 2014 and 2013 , respectively. For all years presented, Company contributions were based on a match of 50% of each employee’s contribution, with the match-eligible contribution being limited to 6% of the employee’s eligible compensation.

Net Loss Per Share Net Loss Per

Net Loss Per Share Net Loss Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Share	NET LOSS PER SHARE Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding (excluding shares of restricted stock). Shares issued during the period and shares reacquired during the period are weighted for the portion of the period they were outstanding. Diluted net loss per share is computed in a manner consistent with that of basic net loss per share, while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and the assumed vesting of restricted stock using the treasury stock method, and the assumed conversion of shares under the Notes using the “if-converted” method. Options to purchase common stock, the vesting of restricted stock and PSUs, and shares issuable upon conversion of the Notes are considered to be potentially dilutive common shares but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive for the years ended December 31, 2015 , 2014 and 2013 as a result of the net losses incurred for those years. Therefore, diluted net loss per share was the same as basic net loss per share for the years ended December 31, 2015 , 2014 and 2013 . Stock options, restricted stock, PSUs, and shares issuable upon the conversion of the Notes outstanding at December 31, 2015 , 2014 and 2013 , which are excluded from the computation of diluted net loss per share for those years, are shown in the table below: December 31, 2015 2014 2013 Options to purchase common stock 2,566,088 2,698,911 3,153,234 Non-vested restricted stock 231,356 208,818 180,812 Non-vested performance stock units 496,656 487,158 — Shares issuable upon conversion of the Notes 7,337,459 7,337,459 — Potentially dilutive common shares 10,631,559 10,732,346 3,334,046 A summary of the net loss per share calculation is shown below for the years indicated: 2015 2014 2013 Net loss (in thousands) $ (59,474 ) $ (40,901 ) $ (370 ) Common shares outstanding: Historical common shares outstanding at beginning of year (excluding shares of unvested restricted stock) 42,034,063 41,208,096 4,839,131 Weighted average common shares issued 396,158 471,273 34,101,413 Weighted average common shares outstanding-basic 42,430,221 41,679,369 38,940,544 Effect of dilution from stock options — — — Weighted average common shares outstanding-diluted 42,430,221 41,679,369 38,940,544 Net loss per share, basic and diluted $ (1.40 ) $ (0.98 ) $ (0.01 )

Concentrations of Credit Risk

Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	CONCENTRATIONS OF CREDIT RISK The Company’s investment policy is designed to limit the Company’s exposure to concentrations of credit risk. The Company’s accounts receivable are due from a variety of health care organizations and distributors throughout the United States, Europe, the Middle East, Latin America and Asia. No single customer represented more than 10% of revenue or accounts receivable for any year presented in our consolidated financial statements. The Company provides for uncollectible amounts upon recognition of revenue and when specific credit problems arise. Historically, management’s estimates for uncollectible amounts have been adequate, and management believes that all significant credit risks have been identified at December 31, 2015 . The Company has not entered into any hedging transactions nor any transactions involving financial derivatives.

Segment and Geographic Reportin

Segment and Geographic Reporting Segment and Geographic Reporting	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment and Geographic Reporting	SEGMENT AND GEOGRAPHIC REPORTING The Company operates in one distinct line of business consisting of developing, manufacturing, marketing, and distributing disposable products and a proprietary excimer laser system to treat certain vascular and coronary conditions. Within this line of business, the Company has identified two operating segments, which were identified on a geographic basis: (1) U.S. Medical and (2) International Medical. U.S. Medical and International Medical offer substantially the same products and services but operate in different geographic regions, have different distribution networks, and different regulatory environments. The primary performance measure for the operating segments is revenue. Additional information regarding each operating segment is discussed below. (a) U.S. Medical Products offered by this segment include medical devices used in minimally invasive procedures within the cardiovascular system, including fiber-optic devices and non-fiber-optic products (disposables), an excimer laser system (equipment), and the service of the excimer laser system (service). The Company is subject to product approvals from the U.S. Food and Drug Administration (“FDA”) and Health Canada. The Company’s products are used in multiple vascular procedures, including peripheral atherectomy, crossing arterial blockages, coronary atherectomy and thrombectomy, and the removal of cardiac lead wires from patients with pacemakers and cardiac defibrillators. This segment’s customers are primarily located in the United States and Canada. U.S. Medical also includes the corporate headquarters of the Company. All manufacturing, research and development, and corporate administrative functions are performed within this operating segment. As of December 31, 2015 , 2014 and 2013 , a portion of research, development and other technology expenses, and general and administrative expenses incurred in the U.S. has been allocated to International Medical based on a percentage of revenue because these expenses support the Company’s ability to generate revenue within the International Medical segment. Manufacturing activities are performed entirely within the U.S. Medical segment. Revenue associated with intersegment product transfers to International Medical was $13.9 million , $8.1 million and $7.6 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Revenue is based upon transfer prices, which provide for intersegment profit that is eliminated upon consolidation. (b) International Medical The International Medical segment has its headquarters in the Netherlands, and serves Europe, the Middle East, Asia Pacific, Latin America, and Puerto Rico. Products offered by this segment are substantially the same as those offered by U.S. Medical, except that the Stellarex DCB products are available for sale in Europe and certain other international markets but are not yet approved for sale in the U.S. The Company is subject to product approvals from various international regulatory bodies. The International Medical segment is engaged primarily in distribution activities, with no manufacturing or product development functions. Certain U.S.-incurred research, development and other technology expenses, and general and administrative expenses have been allocated to International Medical based on a percentage of revenue because these expenses support the Company’s ability to generate revenue within the International Medical segment. Summary financial information relating to reportable segment operations is shown below. Intersegment transfers as well as intercompany assets and liabilities are excluded from the information provided: For the Year Ended December 31, (in thousands) 2015 2014 2013 Revenue: U.S. Medical: Disposable products $ 195,816 $ 155,107 $ 114,976 Laser, service, and other 10,867 12,292 15,150 Subtotal 206,683 167,399 130,126 International Medical: Disposable products 34,563 29,703 23,143 Laser, service, and other 4,710 7,812 5,542 Subtotal 39,273 37,515 28,685 Total revenue $ 245,956 $ 204,914 $ 158,811 U.S. Medical International Medical Total 2015 Interest income $ 25 $ 4 $ 29 Interest expense 6,882 1 6,883 Depreciation and amortization expense 24,910 1,678 26,588 Income tax expense 563 163 726 Segment operating loss (49,548 ) (981 ) (50,529 ) Segment net loss (58,095 ) (1,379 ) (59,474 ) Capital expenditures 9,423 115 9,538 Total assets $ 430,956 $ 37,043 $ 467,999 U.S. Medical International Medical Total 2014 Interest income $ 44 $ 2 $ 46 Interest expense 4,098 10 4,108 Depreciation and amortization expense 15,205 1,608 16,813 Income tax (benefit) expense (887 ) 565 (322 ) Segment operating (loss) income (39,267 ) 2,317 (36,950 ) Segment net (loss) income (42,628 ) 1,727 (40,901 ) Capital expenditures 6,532 190 6,722 Total assets $ 423,039 $ 34,799 $ 457,838 U.S. Medical International Medical Total 2013 Interest income $ 61 $ — $ 61 Interest expense 58 — 58 Depreciation and amortization expense 9,217 1,393 10,610 Income tax expense 402 378 780 Segment operating (loss) income (1,276 ) 1,670 394 Segment net (loss) income (1,666 ) 1,296 (370 ) Capital expenditures 4,406 214 4,620 Total assets $ 198,194 $ 18,518 $ 216,712 In 2015 , 2014 and 2013 , no individual customer represented 10% or more of consolidated revenue. There were no individual countries, other than the United States, that represented at least 10% of consolidated revenue in 2015 , 2014 or 2013 . Long-lived assets, other than financial instruments and deferred tax assets, located in foreign countries are concentrated in Europe, and totaled $27.1 million and $26.6 million as of December 31, 2015 and 2014 , respectively. Revenue by Product Line For the Year Ended December 31, (in thousands) 2015 2014 2013 Revenue Disposable products revenue: Vascular intervention $ 160,480 $ 118,148 $ 75,601 Lead management 69,899 66,662 62,518 Total disposable products 230,379 184,810 138,119 Laser, service, and other 15,577 20,104 20,692 Total revenue $ 245,956 $ 204,914 $ 158,811

Debt Debt

Debt Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	DEBT The following table summarizes our total gross outstanding debt as of December 31, 2015 and December 31, 2014 and the significant terms of our borrowing arrangements: Year Ended December 31, Maturity Date Weighted Average Interest Rate (amounts in thousands) 2015 2014 Convertible Senior Notes $ 230,000 $ 230,000 June 1, 2034 2.625% Term Loan Facility 60,000 — December 7, 2020 (1) Revolving Loan Facility 24,232 — December 7, 2020 (1) Total $ 314,232 $ 230,000 (1) The interest rates on the revolving credit facility and term loan are described below. Convertible Senior Notes In June 2014, the Company sold $230 million aggregate principal amount of 2.625% Convertible Senior Notes due 2034. Interest is paid semi-annually in arrears on December 1 and June 1 of each year, commencing December 1, 2014. The Notes will mature on June 1, 2034, unless earlier converted, redeemed, or repurchased in accordance with the terms of the Notes. The initial conversion rate of the Notes is 31.9020 shares of the Company’s common stock per $1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately $31.35 per share). The conversion rate is subject to adjustment upon the occurrence of certain events specified in the indenture governing the Notes. Holders may surrender their Notes for conversion at any time prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date. On or after June 5, 2018 and prior to June 5, 2021, the Company may redeem any or all of the Notes in cash if the closing price of the Company’s common stock exceeds 130% of the conversion price then in effect for a specified number of days, and on or after June 5, 2021, the Company may redeem the Notes in cash without any such condition. The redemption price for the Notes to be redeemed as described in the immediately preceding sentence equals 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Holders of the Notes may require the Company to repurchase all or a portion of their Notes on each of June 5, 2021, June 5, 2024 and June 5, 2029, or following a fundamental change (as defined in the indenture governing the Notes), in each case, at a repurchase price in cash equal to 100% of the principal amount of the Notes being repurchased plus accrued and unpaid interest to, but excluding, the date of repurchase. The Notes are subject to customary events of default, which may result in the acceleration of the maturity of the Notes. The Notes are the Company’s senior unsecured obligations and rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes, rank equally in right of payment with any of the Company’s unsecured indebtedness that is not so subordinated, are effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all indebtedness and other liabilities of the Company’s subsidiaries. The Company received $222.5 million from the issuance of the Notes, net of $7.5 million of debt issuance costs incurred. The debt issuance costs are being amortized over a seven -year period using the effective interest method. The Company used all of the net proceeds to fund the acquisition of AngioScore (see Note 2, “Business Combinations”). Term Loan Facility and Revolving Loan Facility On December 7, 2015, the Company entered into a term credit and security agreement (the “Term Loan Credit Agreement”) and a revolving credit and security agreement (the “Revolving Loan Credit Agreement”, and together with the Term Loan Credit Agreement, the “Credit Agreements”) with MidCap Financial Trust and the other lenders party thereto. The Credit Agreements replace the Credit and Security Agreement (the “Wells Fargo Credit Agreement”) entered into by the Company and Wells Fargo Bank, National Association on February 25, 2011. The Term Loan Credit Agreement provides for a five -year $60 million Term Loan Facility and the Revolving Loan Credit Agreement provides for a five -year $50 million Revolving Loan Facility. The Revolving Loan Facility may be increased to up to $70 million , subject to approval. The obligations of the Company under the Credit Agreements are secured by a lien on substantially all of the assets of the Company. The Term Loan Facility bears interest at the LIBOR Rate (as defined in the Term Loan Credit Agreement) plus an applicable margin of 7.50% per annum; provided that the applicable margin will be reduced to 6.50% if the Company’s EBITDA (as defined in the Term Loan Credit Agreement) is equal to or greater than $6 million for a specified prior period and no default or event of default has occurred and is occurring. The Company may prepay all or a portion of the Term Loan Facility, subject to certain conditions and a prepayment fee, as specified in the Credit Agreements. The Term Loan Facility is subject to an exit fee of 4.0% of the amount advanced under the Term Loan Facility. Interest-only payments are due during the first 24 months of the Term Loan Facility, with principal payments beginning thereafter in equal monthly installments until maturity, provided that the Company may postpone making principal payments for an additional 12 months if certain conditions are met and the Administrative Agent and lenders agree to such extension. If the Administrative Agent and lenders do not agree to such extension, the prepayment fee and unearned portion of the exit fee will be waived. The Company may borrow under the Revolving Loan Facility subject to borrowing base limitations, which allow the Company to borrow based on the value of eligible accounts receivable and inventory balances. As of December 31, 2015 , the borrowing base was $35.2 million , based on the Company’s accounts receivable and inventory balances. Amounts drawn under the Revolving Loan Facility bear interest at the LIBOR Rate (as defined in the Revolving Loan Credit Agreement) plus 4.45% per annum, while the undrawn portion is subject to an unused line fee of 0.5% per annum. The Revolving Loan Facility is subject to a minimum balance, such that the Company pays the greater of (i) interest accrued on the actual amount drawn under the Revolving Loan Facility and (ii) interest accrued on 35% of the average borrowing base prior to the first anniversary of the Revolving Loan Facility and 50% of the average borrowing base thereafter. The Company may prepay and re-borrow amounts borrowed under the revolving line of credit without penalty. The Credit Agreements require us to maintain minimum cash and cash equivalents of not less than $10 million and achieve net revenue in excess of certain specified thresholds. These agreements also contain certain restrictive covenants that limit and in some circumstances prohibit, our ability to, among other things incur additional debt, sell, lease or transfer our assets, pay dividends on our common stock, make capital expenditures and investments, guarantee debt or obligations, create liens, repurchase our common stock, enter into transactions with our affiliates and enter into certain merger, consolidation or other reorganization transactions. The Credit Agreements contains customary events of default, including the failure to make required payments, the failure to comply with certain covenants or other agreements, the occurrence of a material adverse change, failure to pay certain other indebtedness and certain events of bankruptcy or insolvency. Upon the occurrence and continuation of an event of default, amounts due under the Credit Agreements may be accelerated. At closing, the Company received $60.0 million under the Term Loan Facility and drew $18.0 million under the Revolving Loan Facility for general working capital and corporate purposes, as well as for the repayment of approximately $3.0 million outstanding under the Wells Fargo Credit Agreement. During 2015, the Company recorded a write-off of $0.2 million in unamortized debt issuance costs related to the extinguishment of the Wells Fargo line of credit and incurred $0.7 million in debt issuance costs related to the Term Loan Facility and Revolving Loan Facility. As of December 31, 2015 , the Term Loan Facility and Revolving Loan Facility had outstanding balances of $60.0 million and $24.2 million , respectively. The interest rate on the Term Loan Facility was 8.00% at December 31, 2015 and the weighted average interest rate on the Revolving Loan Facility was 4.95% at December 31, 2015 .

Income Taxes Income Taxes

Income Taxes Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The sources of (loss) income before income taxes are as follows: (in thousands) 2015 2014 2013 United States $ (58,252 ) $ (43,217 ) $ (1,298 ) Foreign (primarily the Netherlands) (496 ) 1,994 1,708 (Loss) income before income taxes $ (58,748 ) $ (41,223 ) $ 410 Income tax expense (benefit) attributable to (loss) income before income taxes consists of the following: (in thousands) 2015 2014 2013 Current: Federal $ — $ — $ — State 126 72 66 Foreign 114 515 328 240 587 394 Deferred: Federal 400 (874 ) 301 State 36 (85 ) 35 Foreign 50 50 50 486 (909 ) 386 Income tax (benefit) expense $ 726 $ (322 ) $ 780 Income tax (benefit) expense attributable to (loss) income before income taxes differed from the amounts computed by applying the U.S. federal income tax rate of 34% to (loss) income before income taxes as a result of the following: (in thousands) 2015 2014 2013 Computed expected tax (benefit) expense $ (19,974 ) $ (14,016 ) $ 140 Increase (reduction) in income tax (benefit) expense resulting from: State and local income taxes, net of federal impact (2,270 ) (1,211 ) (116 ) Stock-based compensation 1,028 46 169 Nondeductible expenses 517 2,652 55 Change in valuation allowance 31,037 13,540 (332 ) Change in contingent consideration liability (7,870 ) — — Release of valuation allowance related to AngioScore acquisition — (1,266 ) — Change in deferred rate (75 ) 193 5 Foreign operations 616 179 (49 ) Research and development credit (2,283 ) (439 ) 908 Income tax (benefit) expense $ 726 $ (322 ) $ 780 Included in the $0.3 million income tax benefit for the year ended December 31, 2014 is a $1.3 million tax benefit from the release of valuation allowance of the Company’s deferred tax assets (“DTAs”). In connection with the acquisition of AngioScore during the year ended December 31, 2014, deferred tax liabilities (“DTLs”) were established for the book-tax basis differences related to the non-goodwill intangible assets. These DTLs exceeded the acquired DTAs by $1.3 million . The net DTLs from this acquisition create an additional source of taxable income to realize a portion of the Company’s DTAs for which a valuation allowance is no longer needed. The impact on the Company’s DTAs and DTLs caused by the acquisition is recorded outside of acquisition accounting. Accordingly, the valuation allowance on a portion of the Company’s DTAs was released and resulted in an income tax benefit of $1.3 million . The tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2015 and 2014 are as follows: (in thousands) 2015 2014 Deferred tax assets: Net operating loss carryforwards–U.S. and related states $ 74,886 $ 55,002 Net operating loss carryforwards–foreign 286 — Charitable contribution carryover 219 212 Capital loss carryover 131 403 Amortization of intangibles 1,146 1,031 Stock compensation expense related to nonqualified stock options 3,914 2,434 Research and experimentation tax credit 7,383 4,689 Alternative minimum tax credit 298 298 Accrued liabilities 2,110 1,895 Inventories 2,680 1,938 Deferred revenue 512 544 93,565 68,446 Less valuation allowance (60,790 ) (29,815 ) Deferred tax assets, net $ 32,775 $ 38,631 Deferred tax liabilities: Equipment $ (2,152 ) $ (2,192 ) Long-lived intangible assets (32,538 ) (37,916 ) Total deferred tax liabilities $ (34,690 ) $ (40,108 ) As discussed in Note 1, “Summary of Significant Accounting Policies,” the Company adopted the provisions of ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , early during the fourth quarter of 2015 and retrospectively applied ASU 2015-17 to all periods presented. Upon adoption, the Company netted its current deferred tax assets with its noncurrent deferred tax liabilities on its consolidated balance sheets for all periods presented. As a result of these reclassifications, the Company’s current deferred tax assets of $1.7 million and $2.2 million as of December 31, 2015 and 2014, respectively, were netted with its noncurrent deferred tax liabilities of $3.6 million and $3.7 million as of December 31, 2015 and 2014, respectively. An income tax benefit of $2.4 million , $3.0 million and $1.4 million related to the exercise of stock options for the years ended December 31, 2015 , 2014 and 2013 , respectively, will be added to other paid-in capital if, and when, the tax benefit is realized. As of December 31, 2015 , the Company has unrestricted U.S. federal net operating loss carryforwards of approximately $218.5 million and state net operating loss carryforwards of $165.1 million to reduce future taxable income, which expire primarily from 2019 through 2035. The Company also has capital loss carryforwards of $0.4 million that expire in 2016. An alternative minimum tax credit carryforward of approximately $0.3 million is available to offset future regular tax liabilities and has no expiration date. For alternative minimum tax purposes, the Company has unrestricted net operating loss carryforwards for U.S. federal income tax purposes of approximately $217.5 million . The Company also has research and experimentation tax credit carryforwards for federal income tax purposes at December 31, 2015 of approximately $5.7 million , which are available to reduce future federal income taxes, if any, and expire at varying dates through 2035. The Company intends to indefinitely reinvest earnings from subsidiaries treated as foreign corporations for U.S. tax purposes. As of December 31, 2015 and 2014 , the Company had a cumulative undistributed deficit related to its foreign subsidiaries of approximately $20.5 million and $20.0 million , respectively. In assessing the realizability of deferred tax assets, management considers whether it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. The Company’s ability to realize the benefit of its deferred tax assets in future periods will depend on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the projected future taxable income and tax planning strategies in making this assessment. Due to the Company’s history of losses and its planned near-term investments in its growth, the Company continues to record a valuation allowance against substantially all of its deferred tax assets that are in excess of its deferred tax liabilities. The Company will continue to assess the need for a valuation allowance in future periods and does not expect to reduce the valuation allowance against its deferred tax assets until it has a sufficient historical trend of taxable income and can predict future income with a higher degree of certainty. In the event there is a change in circumstances in the future which would affect the utilization of the Company’s deferred tax assets, the tax provision in that period would be adjusted by the amount of the assets then deemed to be realizable. As of December 31, 2015 , the Company classified approximately $0.1 million of its tax credit carryforwards as uncertain. This amount is reported as a reduction of the Company’s deferred tax asset. In 2014, the Company reduced its uncertain tax positions by $0.2 million for tax credits that are no longer subject to the uncertain tax position. The Company classifies interest and penalties expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the consolidated statements of operations and comprehensive loss or on the consolidated balance sheet. The Company files tax returns in the U.S., Puerto Rico, Canada, and in each of the European countries in which the Company has subsidiaries. The tax years 2011 through 2015 remain open to examination by the major taxing jurisdictions to which the Company is subject. The IRS completed a corporate income tax audit during 2012 for the Company’s 2009 and 2010 tax years. No adjustments were made as a result of the audit.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation The Company is from time to time subject to, and is presently involved in, various pending or threatened legal actions and proceedings, including those that arise in the ordinary course of its business. Such matters are subject to many uncertainties and to outcomes the financial impacts of which are not predictable with assurance and that may not be known for extended periods of time. The Company records a liability in its consolidated financial statements for costs related to claims, settlements, and judgments where management has assessed that a loss is probable and an amount can be reasonably estimated. The Company’s significant legal proceedings are discussed below. The costs associated with such proceedings or other legal proceedings that may be commenced could have a material adverse effect on the Company’s future consolidated results of operations, financial position, or cash flows. For certain cases described herein, management is unable to provide a meaningful estimate of the possible loss, if any, or range of possible loss because, among other reasons, (i) the proceedings are in various stages; (ii) damages may not have been sought; (iii) damages may be determined to be unsupported; (iv) there is uncertainty as to the outcome of pending appeals or motions; (v) there are significant factual issues to be resolved; and/or (vi) there are novel legal issues or unsettled legal theories to be presented or a large number of parties. For these cases, however, the Company does not believe, based on currently available information, that the outcomes of these proceedings will have a material adverse effect on the Company’s financial condition, though the outcomes could be material to the Company’s operating results for any particular period, depending, in part, upon the operating results for such period. TriReme Patent Infringement and Breach of Fiduciary Duty In July 2012, AngioScore sued TriReme Medical, Inc. (“TriReme”), Eitan Konstantino (“Konstantino”), Quattro Vascular Pte, Ltd. (“Quattro”), and QT Vascular Ltd. (“QT Vascular”), in the U.S. District Court for the Northern District of California (the “Court”), alleging patent infringement (the “Northern District of California Action”). In this action, AngioScore, the plaintiff, sought injunctive relief and damages. In June 2014, AngioScore amended its complaint (i) to allege that TriReme’s Chief Executive Officer, Konstantino, who is a former founder, officer, and member of the board of directors of AngioScore, breached his fiduciary duties to AngioScore by developing the Chocolate balloon catheter while he served as a member of the AngioScore board of directors, and (ii) to add claims against the other defendants for aiding and abetting that breach. Trial on the breach of fiduciary duty case occurred in April 2015. In July 2015, the Court ruled in favor of AngioScore, finding that Konstantino breached his fiduciary duties to AngioScore, that TriReme and Quattro aided and abetted that breach, and that QT Vascular is liable for the acts of TriReme and Quattro. In its ruling, the Court found that Konstantino breached his fiduciary duties to AngioScore by developing the Chocolate balloon catheter while serving on the AngioScore board of directors and failing to present that corporate opportunity to AngioScore. Konstantino subsequently launched the product through TriReme, Quattro and QT Vascular. The Court awarded AngioScore $20.034 million against all defendants plus disgorgement from Konstantino of all benefits he accrued from his breach of fiduciary duties, including amounts he received for assigning his intellectual property rights to the Chocolate balloon, a royalty on past and future sales of the Chocolate balloon, and all of his shares and options in QT Vascular. The defendants have filed an appeal of the ruling. Trial on the patent infringement case was held in September 2015. The jury found against AngioScore in the patent infringement case and found that certain of the asserted claims of the patent are invalid. The patent infringement verdict has no impact on the Court’s findings or award of damages in connection with the breach of fiduciary duty claims or the ability to recover advanced fees and costs, discussed below. The Court entered judgment in both the breach of fiduciary duty case and the patent case in October 2015. TriReme Inventorship In June 2014, TriReme sued AngioScore in the Court seeking to change the inventorship of certain patents owned by AngioScore. TriReme alleged that an Israeli physician, Chaim Lotan, should be named as a co-inventor on three patents owned by AngioScore. Dr. Lotan allegedly assigned any rights he may have had in the three patents to TriReme. AngioScore moved to dismiss this litigation in January 2015, asserting that Dr. Lotan previously assigned any rights he may have had in the patents to AngioScore in 2003. In March 2015, the Court granted AngioScore’s motion to dismiss this case. TriReme appealed the Court’s ruling, and on February 5, 2016, an appellate court reversed the lower court’s ruling dismissing the case and remanded the case for further proceedings. Konstantino Indemnification and Advancement of Fees On May 15, 2014, AngioScore sued Konstantino in the Superior Court for the County of Alameda, State of California, seeking a declaratory judgment that AngioScore owes no indemnification obligations to Konstantino under the AngioScore Indemnification Agreement resulting from AngioScore’s claim that Konstantino breached his fiduciary duties to AngioScore while serving as a member of the board of directors of AngioScore (the “Alameda Action”). In November 2014, the court stayed the Alameda Action pending the outcome of the Northern District of California Action. On May 21, 2014, Konstantino sued AngioScore in the Delaware Court of Chancery (the “Delaware Action”) seeking a ruling that, under the AngioScore Indemnification Agreement, AngioScore must indemnify and advance Konstantino’s attorneys’ fees and costs related to the defense of the breach of fiduciary duty claims in the Northern District of California Action and the Alameda Action and his pursuit of the Delaware Action for advancement of fees. On June 4, 2014, AngioScore filed counter-claims against Konstantino for violating the AngioScore Indemnification Agreement, which requires, in part, that he cooperate in identifying other sources of advancement, and AngioScore filed a third-party complaint against TriReme, Quattro, and QT Vascular seeking contribution from the defendant companies for amounts advanced to Konstantino. Konstantino filed a motion for summary judgment that he is entitled to advancement from AngioScore and, on August 15, 2014, the court granted the motion. On September 4, 2014, AngioScore filed amended counterclaims and an amended third-party complaint that included additional defendant TriReme Singapore. The defendant companies filed a motion to dismiss the amended third-party complaint on the grounds that it failed to state a claim and the court does not have jurisdiction over three of the defendant companies that were incorporated in Singapore. In October 2015, the court denied the defendant companies’ motion to dismiss, and the Company filed a motion for summary judgment against the defendant companies seeking reimbursement and contribution of fees the Company advanced to Konstantino. In November 2015, the court granted in part the Company’s motion and ordered that TriReme is liable for 50% of advanced fees and costs, and must pay all fees and costs to be advanced moving forward until such fees and costs equal the fees and costs paid by AngioScore, and thereafter, the fees and costs will be advanced 50% by TriReme and 50% by AngioScore. The Company cannot at this time determine the likelihood of any outcome and, as of December 31, 2015 , has no amounts accrued for potential damages. During the year ended December 31, 2015 , the Company incurred $19.9 million of legal fees associated with these matters, including amounts advanced for certain of Konstantino’s attorneys’ fees and costs. These expenses are included within the “Acquisition transaction, integration and legal costs” line of the consolidated statements of operations and comprehensive loss. Shareholder Litigation On August 27, 2015, a person purporting to represent a class of persons who purchased securities of the Company between February 19, 2015 and July 23, 2015 filed a lawsuit against the Company and certain of its officers in the United States District Court for the District of Colorado. The lawsuit asserts claims under Sections 10(b) and 20 of the Securities Exchange Act of 1934, alleging that certain of the Company’s public statements concerning its projected revenue for 2015 were false and misleading. On December 18, 2015, the court appointed lead plaintiff and lead counsel. The Company believes that the lawsuit is without merit and intends to defend itself vigorously. The Company cannot at this time determine the likelihood of any outcome or whether the impact will be material and, as of December 31, 2015 , has no amounts accrued for potential damages in this case. Other The Company is involved in other legal proceedings in the normal course of business and does not expect them to have a material adverse effect on its business. Leases The Company leases office space, furniture, vehicles and equipment under noncancelable operating leases with terms that expire at various dates through 2023. The future minimum payments under noncancelable operating leases as of December 31, 2015 were as follows: (in thousands) Operating Leases Years ending December 31: 2016 $ 3,275 2017 3,333 2018 2,716 2019 2,319 2020 2,263 Thereafter 7,075 $ 20,981 Rent expense under operating leases totaled approximately $3.5 million , $2.7 million , and $2.4 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited) Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Financial Data (Unaudited)	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2015 2014 Q1(1) Q2(1)(3) Q3(1)(4) Q4(1)(5)(6) Q1(1) Q2(1)(2) Q3(1)(4) Q4(1)(5) (In thousands, except per share amounts) Net sales $ 57,422 $ 61,677 $ 61,660 $ 65,197 $ 39,614 $ 43,555 $ 58,786 $ 62,959 Gross profit 42,369 45,763 45,851 48,839 29,280 33,049 43,086 46,040 Net loss (27,305 ) (7,216 ) (14,493 ) (10,460 ) (5,661 ) (5,299 ) (13,944 ) (15,997 ) Net loss per share (7): Basic and diluted $ (0.65 ) $ (0.17 ) $ (0.34 ) $ (0.25 ) $ (0.14 ) $ (0.13 ) $ (0.33 ) $ (0.38 ) (1) During the first, second, third and fourth quarters of 2015, the Company incurred $10.4 million , $11.1 million , $5.4 million and $2.4 million , respectively, in transaction, integration and legal costs related to the acquisitions of AngioScore and Stellarex. See Note 2, “Business Combinations.” During the first, second, third and fourth quarters of 2014, the Company incurred $0.3 million , $4.0 million , $3.8 million and $7.8 million , respectively, in transaction and integration costs related to the acquisition of AngioScore. During the fourth quarter of 2014, the Company incurred $1.5 million in transaction costs related to the acquisition of Stellarex. See Note 2, “Business Combinations.” (2) Net loss and net loss per share have been adjusted from the previously filed Form 10-Q as of June 30, 2014 to reflect adjustments made during the measurement period to provisional amounts recognized for the AngioScore acquisition at the acquisition date. The Company recorded a deferred tax benefit of $1.3 million related to a partial release of valuation allowance related to the AngioScore acquisition. See Note 13, “Income Taxes.” (3) During the second quarter of 2015, the Company reduced its contingent consideration liability by $17.8 million as a result of a decrease in future revenue estimates for the AngioSculpt products. See Note 2, “Business Combinations.” (4) During the third quarter of 2015, the Company recorded an intangible asset impairment of $2.5 million as a partial impairment of the in-process research and development intangible assets acquired as part of the AngioScore acquisition. The Company also reduced the contingent consideration liability related to regulatory milestone payments by $4.3 million . See Note 2, “Business Combinations.” During the third quarter of 2014, the Company recorded an impairment charge of $4.1 million and a reduction of $1.1 million to the contingent consideration liability related to certain assets and liabilities recorded from the acquisition of the Upstream products in 2013. See Note 5, “Goodwill and Other Intangible Assets.” (5) During the fourth quarter of 2015, the Company reduced its contingent consideration liability by $3.7 million as a result of a decrease in future revenue estimates for the AngioSculpt products. (6) In the fourth quarter of 2015, we revised our estimate related to the achievement of the PSU performance targets, the cumulative effect of which resulted in an approximate $1.7 million reversal of amounts previously recorded. (7) The sum of the quarterly net income per share amounts may not total to each full year amount because these computations are made independently for each quarter and for the full year, and take into account the weighted average number of common stock equivalent shares outstanding for each period.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts Schedule II- Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS Additions Description Balance at Beginning of Year Charged (Credited) to Revenue, Costs or Expenses Charged Deductions (2) Balance at End of Year (In thousands) Year ended December 31, 2015: Allowance for doubtful accounts and sales returns $ 1,615 $ 2,074 $ — $ 1,783 $ 1,906 Inventory reserves 2,419 2,867 — 1,415 3,871 Valuation allowance for deferred tax assets 29,815 30,975 — — 60,790 Year ended December 31, 2014: Allowance for doubtful accounts and sales returns $ 782 $ 2,271 $ — $ 1,438 $ 1,615 Inventory reserves 918 426 1,267 192 2,419 Valuation allowance for deferred tax assets 11,794 13,540 5,747 1,266 29,815 Year ended December 31, 2013: Allowance for doubtful accounts and sales returns $ 589 $ 1,153 $ — $ 960 $ 782 Inventory reserves 914 213 — 209 918 Valuation allowance for deferred tax assets 12,781 (987 ) — — 11,794 (1) During 2014, as part of purchase accounting at the AngioScore acquisition date, inventory reserves were established for potentially expired or obsolete AngioScore inventory, and a valuation allowance was established against a portion of AngioScore deferred tax assets related to net operating losses. (2) Deductions represent receivables written-off and credits granted for customer returns, inventory write-offs, and reductions in the valuation allowance for deferred tax assets due primarily to the use or expiration of net operating losses.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management of the Company to make several estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, goodwill and intangible assets; valuation allowances for receivables, inventories and deferred income tax assets; contingent consideration liabilities for acquisitions; stock-based compensation expense; estimated clinical trial expenses; accrued costs for incurred but not reported claims under partially self-insured employee health benefit programs; and loss contingencies, including those related to litigation. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. At times, the Company maintains deposits in financial institutions in excess of federally insured limits.
Financial Instruments	Financial Instruments Financial instruments included in our financial statements are comprised of cash and cash equivalents, trade accounts receivable, accounts payable, certain accrued liabilities, a line of credit facility (the “Revolving Loan Facility”), convertible senior notes (“Notes”), a term loan facility (the “Term Loan Facility”) and contingent consideration liabilities.
Fair-Value Measurements	Fair-Value Measurements Fair value is defined as an exit price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Authoritative guidance establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities. • Level 1 Inputs - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 Inputs - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 Inputs - Unobservable inputs for the asset or liability. The Company’s cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are carried at amortized cost, as the fair values of these instruments approximate their carrying values due to their short-term nature. As of December 31, 2015 , cash equivalents consisted of money market accounts and U.S. treasury securities with original maturities of three months or less, which the Company classified as Level 1, given the active market for these accounts. The fair value of the Notes is influenced by interest rates, the stock price of the Company’s common stock, and stock price volatility, which is determined by market trading. As of December 31, 2015 , the estimated fair value of the Notes was $174.8 million and was determined based on quoted market prices in a secondary market, which is considered a Level 2 Input measurement. The carrying amounts of the Term Loan Facility and Revolving Loan Facility are considered reasonable estimates of fair value due to their floating-rate terms. See further discussion of these items in Note 12, “Debt.”
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance for doubtful accounts based upon an aging of accounts receivable, historical experience and management judgment. Larger or past due accounts receivable balances are reviewed individually for collectibility. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is remote.
Inventory	Inventory Inventory is recorded at the lower of cost or market. Cost is determined using the first-in, first-out method. The Company calculates inventory reserves for estimated obsolescence or excess inventory based on historical usage and sales, and assumptions about future demand for and utilization of its products, and these reserves create a new cost basis for the subsequent accounting of the inventory. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is recorded to cost of goods sold.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Repairs and maintenance costs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets of three to five years for manufacturing equipment, equipment held for rental or loan, computers, and furniture and fixtures. The building the Company owns, which had been a manufacturing facility and now houses certain general operations, is depreciated using the straight-line method over its estimated useful life of 20 years. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of costs over the fair value of the identifiable net assets of businesses acquired. Goodwill and intangible assets acquired in a business combination and determined to have indefinite useful lives are not amortized, but instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In evaluating goodwill and indefinite-lived intangible assets, the Company performs an assessment of qualitative factors to determine if goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment test. The Company conducts its annual impairment test as of December 31 of each year. See further discussion in Note 5, “Goodwill and Other Intangible Assets.”
Long-Lived Assets and In Process Research and Development	Long-Lived Assets The Company reviews long-lived assets and certain identifiable intangibles for impairment whenever events or circumstances indicate the carrying amount of an asset may not be recoverable. The carrying value of a long-lived asset is considered impaired when the expected undiscounted cash flows from such asset are separately identifiable and are less than the carrying value. Fair value is determined by reference to quoted market prices, if available, or the utilization of certain valuation techniques such as cash flows discounted at a rate commensurate with the risk involved. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less selling costs. In 2014 and 2013, the Company recorded an intangible asset impairment charge for intangible assets acquired in 2013, as further discussed in Note 5, “Goodwill and Other Intangible Assets.” Intangible assets with finite lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets with finite lives, which consist primarily of technology intangible assets, customer relationships, trademarks, and trade names, are amortized using the straight-line method over periods that currently range from two to twelve years. In-Process Research and Development The Company defines in process research and development (“IPR&D”) as the value of technology acquired for which the related products have not yet reached technological feasibility and have no future alternative use. The primary basis for determining the technological feasibility of these projects is obtaining regulatory approval to market the underlying products in an applicable geographic region. IPR&D acquired in a business combination requires the estimated fair value of IPR&D to be capitalized as an indefinite-lived intangible asset until completion or abandonment of the IPR&D project. Upon completion of the development project, the IPR&D is amortized over its estimated useful life. If the IPR&D projects are abandoned, the related IPR&D assets would be written off. The estimated fair value of IPR&D is determined using an income approach model. In 2015, the Company recorded an intangible asset impairment charge related to a partial impairment of the IPR&D intangible assets acquired as part of the AngioScore acquisition. At December 31, 2015 , IPR&D represented an estimate of the fair value of in-process technology acquired in the AngioScore and Stellarex acquisitions. See further discussion in Note 2, “Business Combinations.”
Revenue Recognition	Revenue Recognition The Company recognizes revenue when all of the following criteria are met: persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectibility is reasonably assured. Revenue from the sale of the Company’s disposable products is recognized when products are shipped to the customer and title transfers. In general, customers do not have a right of return for credit or refund. However, the Company allows returns under certain circumstances and records an allowance for sales returns based upon an analysis of revenue transactions and historical experience of sales returns. Write-offs to customer account balances for product returns are charged against the allowance for sales returns. Revenue from the sale of CVX-300 laser systems is recognized after completion of contractual obligations, which generally include delivery and installation of the systems. The Company’s field service engineers are responsible for installation of each laser system. The Company generally provides a one-year warranty on laser sales, which includes parts, labor and replacement gas. Upon expiration of the warranty period, the Company offers similar service to its customers under annual service contracts or on a fee-for-service basis. Revenue from fee-for-service arrangements is recognized upon completion of the related service. The Company accounts for service provided during the one-year warranty or service contract period as a separate unit of accounting. As such, the fair value of this service is deferred and recognized as revenue on a straight-line basis over the related warranty or service contract term, and warranty and service costs are expensed in the period they are incurred. Revenue recognized associated with service performed during the warranty period totaled $0.6 million , $0.7 million and $0.7 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The Company offers four laser system placement programs, which are described below, in addition to the sale of laser systems: Straight rental program. The Company offers a straight monthly rental program for laser systems, and customers pay rent of $2,500 to $3,500 per month under this program. Rental revenue is invoiced and recognized monthly. The laser system is transferred to the equipment held for rental or loan account upon shipment, and depreciation expense is included in cost of revenue based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. Volume-based rental programs. Rental revenue under these programs varies on a sliding scale depending on the customer’s purchases of disposable products (either unit or dollar volume) each month. Rental revenue is invoiced and recognized monthly. The laser system is transferred to the equipment held for rental or loan account upon shipment, and depreciation expense is included in cost of revenue based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. Capital included rental program. Under this program, the customer agrees to a catheter price list that includes a per-unit surcharge covering the cost of the laser system. Customers are expected, but not required, to make minimum purchases of catheters at regular intervals, and the Company reserves the right to require the customer to return the laser system if the customer does not make minimum purchases of catheters. The Company recognizes the total surcharge as rental revenue upon shipment of the catheters, believing it to be the best measurement of revenue associated with the customer’s use of the laser system. The laser system is transferred to the equipment held for rental or loan account upon shipment, and depreciation expense is included in cost of revenue based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. Evaluation program. The Company loans laser systems to institutions for use over a short period, usually three months. The loan of the equipment is to create awareness of the Company’s products and allows users to assess their therapeutic capabilities. While no revenue is earned or recognized in connection with the placement of a loaned laser, sales of disposable products result from the laser placement. The laser system is transferred to the equipment held for rental or loan account upon shipment and depreciation expense is recorded within selling, general and administrative expense based upon the five -year expected life of the laser system. Costs to maintain the equipment are expensed as incurred. The Company sells to end-users in the United States and internationally as well as to certain international distributors. Sales to international distributors represented approximately 8% of the Company’s total revenue in 2015 . Distributor agreements are in place with each distributor, which outline the significant terms of the transactions between the distributor and the Company. The terms and conditions of sales to the Company’s international distributors do not differ materially from the terms and conditions of sales to its domestic and international end-user customers. Sales to distributors are recognized either at shipment or a later date in accordance with the agreed upon contract terms with distributors, provided that the Company has received an order, the price is fixed or determinable, collectibility of the resulting receivable is reasonably assured, all contractual obligations have been met and the Company can reasonably estimate returns. The Company provides products to its distributors at agreed wholesale prices and typically does not provide any special right of return or exchange, discounts, significant sales incentives, price protection or stock rotation rights to any of its distributors.
Deferred Revenue	Deferred Revenue Deferred revenue was $1.6 million and $1.9 million at December 31, 2015 and 2014 , respectively. These amounts primarily relate to payments in advance for various product maintenance contracts in which revenue is initially deferred and recognized over the life of the contract, which is generally one year, and to deferred revenue associated with service provided to customers during the warranty period after the sale of laser systems.
Medical Device Excise Tax	Medical Device Excise Tax The Patient Protection and Affordable Care Act of 2010 imposes a medical device excise tax on medical device manufacturers on their sales in the U.S. of certain devices, which was effective January 1, 2013. The excise tax is 2.3% of the taxable base and applies to a substantial majority of the Company’s U.S. sales. For the years ended December 31, 2015 and 2014 , the Company incurred $3.5 million and $2.8 million of excise tax, respectively, which is recorded in the consolidated statements of operations and comprehensive loss as an operating expense under the caption “Medical device excise tax.” In December 2015, legislation was enacted that suspends the medical device excise tax for 2016 and 2017.
Stock-Based Compensation	Stock-Based Compensation The Company measures all employee stock-based compensation awards using a fair value method and records such expense in its consolidated financial statements. The estimated value of the portion of the award that is ultimately expected to vest, taking into consideration estimated forfeitures based on the Company’s historical forfeiture rate, is recognized as expense over the requisite service periods in the Company’s consolidated statements of operations and comprehensive loss. The Company estimates the grant date fair value of stock option awards generally on the date of grant using the Black-Scholes option pricing model. For certain options, which contained vesting provisions that included a share price trigger, the Company estimated the fair value of the options using a trinomial lattice model. With respect to performance stock units (“PSUs”), the number of shares that vest and are issued to the recipient is based upon the Company’s performance as measured against specified targets over a three -year period. The fair value of the PSUs is based on the Company’s closing stock price on the grant date and its estimate of achieving such performance targets. See further discussion and disclosures in Note 8, “Stock-based Compensation and Employee Benefit Plans.”
Research, Development and Other Technology	Research, Development and Other Technology Research, development and other technology costs are expensed as incurred and totaled $64.4 million , $28.7 million , and $22.1 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. In addition to product development costs, research, development and other technology costs include royalty expenses that the Company pays to license certain intellectual property incorporated in the Company’s products. Royalty expenses totaled $3.6 million , $2.7 million , and $2.0 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Clinical trial costs. The Company sponsors clinical trials intended to obtain the necessary clinical data required to obtain approval from the U.S. Food and Drug Administration (“FDA”) and foreign regulatory agencies to market new applications of its technology. Costs associated with these clinical trials are also included within research, development and other technology costs and totaled $20.0 million , $4.1 million , and $3.8 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. In certain cases, substantial portions of the Company’s clinical trials are performed by third-party clinical research organizations (“CROs”). These CROs generally bill monthly for services performed and also bill based upon milestone achievement. The Company accrues for services as provided, when services are performed before milestone payments are made. If the Company prepays CRO fees or milestone payments, the Company records the prepayment as a prepaid asset and amortizes the asset into research, development and other technology expense over the period of time the contracted services are performed based upon the number of patients enrolled, “patient months” incurred and the duration of the study. The Company monitors patient enrollment, the progress of clinical studies and related activities through internal reviews of data reported to the Company by the CROs and correspondence with the CROs. The Company periodically evaluates its estimates to determine if adjustments are necessary or appropriate based on information it receives.
Foreign Currency Translation	Foreign Currency Translation The Company’s reporting currency is the U.S. dollar. Certain transactions of the Company and its subsidiaries are denominated in currencies other than the U.S. dollar. The functional currency of the Company’s foreign operations generally is the applicable local currency. Assets and liabilities of non-U.S. dollar functional currency entities are translated to U.S. dollars at period-end exchange rates, and the resulting gains and losses arising from the translation of those net assets are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive loss on the consolidated balance sheets. Elements of the consolidated statements of operations and comprehensive loss are translated at the average monthly currency exchange rates in effect during the period and foreign currency transaction gains and losses are included in other income (expense).
Advertising Costs	Advertising Costs The Company expenses advertising costs as incurred. Advertising costs of approximately $1.6 million , $2.0 million and $1.9 million were expensed for the years ended December 31, 2015 , 2014 and 2013 , respectively.
Medical Self-Insurance Costs	Medical Self-insurance Costs The Company is partially self-insured for claims relating to employee medical and dental benefit programs. The medical self-insurance program is administered by a third-party and contains stop-loss provisions on both an individual claim basis and in the aggregate. The Company records claims incurred as an expense each period, including an estimate of claims incurred but not yet reported, which is revised quarterly. The Company uses claims data and historical experience, as applicable, to estimate the liability for unreported claims.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, operating losses and research and development and alternative minimum tax credit carryforwards. A valuation allowance is required to the extent it is more-likely-than-not that a deferred tax asset will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company recognizes the financial statement effects of a tax position when it is more-likely-than-not, based on technical merits, that the position will be sustained upon examination. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the consolidated statements of operations and comprehensive loss or on the consolidated balance sheet. See further discussion and disclosures in Note 13, “Income Taxes.”
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of debt issuance costs will continue to be reported as interest expense. ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The new guidance is applied retrospectively to each prior period presented. Adoption of ASU 2015-03 changed the presentation of debt issuance costs on the Company’s consolidated balance sheets by eliminating the debt issuance costs asset and reducing the liability of the Company’s debt by the amount of net debt issuance costs. The Company early adopted the provisions of this ASU during the fourth quarter of 2015 and retrospectively applied ASU 2015-03 to all periods presented. Upon adoption, the Company reclassified its debt issuance costs associated with noncurrent liabilities from an asset to a noncurrent liability on its consolidated balance sheets for all periods presented. As a result of these reclassifications, the Company’s debt issuance costs of $7.3 million and $6.9 million as of December 31, 2015 and 2014, respectively, were netted with their noncurrent liabilities of $290.0 million and $230.0 million as of December 31, 2015 and 2014, respectively. Adoption of this standard did not impact results of operations, retained earnings, or cash flows in the current or previous interim and annual reporting periods. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which will replace most existing revenue recognition guidance in U.S. GAAP. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. To achieve this core principle, ASU 2014-09 contains a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when (or as) an entity satisfies a performance obligation. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date of ASU 2014-09 for all entities by one year. As a result, ASU 2014-09 is now effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 and allows for both retrospective and prospective methods of adoption. The Company is in the process of determining the method and date of adoption and assessing the impact of ASU 2014-09 on its results of operations, financial position, and consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . The update requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amounts as if the accounting had been completed at the acquisition date. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The Company does not expect ASU 2015-16 to have a material impact on its results of operations, financial position, and consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this update simplify the presentation of deferred taxes by requiring deferred tax assets and liabilities be classified as noncurrent on the balance sheet. These amendments may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Company early adopted the provisions of this ASU during the fourth quarter of 2015 and retrospectively applied ASU 2015-17 to all periods presented. Upon adoption, the Company netted its current deferred tax assets with its noncurrent deferred tax liabilities on its consolidated balance sheets for all periods presented. As a result of these reclassifications, the Company’s current deferred tax assets of $1.7 million and $2.2 million as of December 31, 2015 and 2014, respectively, were netted with its noncurrent deferred tax liabilities of $3.6 million and $3.7 million as of December 31, 2015 and 2014, respectively. Adoption of this standard did not impact results of operations, retained earnings, or cash flows in the current or previous interim and annual reporting periods. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , intended to improve financial reporting related to leasing transactions. This update requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve months. The accounting by lessors will remain largely unchanged from current U.S. GAAP. For public companies, the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company is in the process of determining the method and date of adoption and assessing the impact of ASU 2016-02 on its results of operations, financial position, and consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe they are of significance, or potential significance, to the Company.

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the allocations to the assets acquired: (in thousands) Allocation of purchase price Amortization period (in years) Inventories $ 1,337 Property and equipment, net 2,701 Total tangible assets acquired 4,038 Less: above market lease assumed 293 Net tangible assets acquired $ 3,745 Intangible assets: In-process research and development (“IPR&D”) 13,680 Technology 9,000 12 Trademark and trade names 400 12 Transition services agreement 530 0.5 Goodwill 2,645 Total purchase price $ 30,000
Schedule of Changes In Contingent Consideration	The following table presents changes to the Company’s acquisition-related contingent consideration for the periods ending December 31, 2015 and 2014: 2015 2014 Beginning balance $ 28,694 $ 1,802 Purchase price contingent consideration — 25,886 Change in fair value of contingent consideration (25,819 ) (1,064 ) Contingent consideration payments (393 ) — Contingent consideration accretion expense 2,671 2,070 Ending balance $ 5,153 $ 28,694
Schedule of Pro Forma Information	The pro forma information does not include any adjustment for potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisitions. Year Ended December 31, (in thousands) 2015 2014 Revenue $ 245,956 $ 235,318 Net loss (61,542 ) (88,597 ) Net loss per share $ (1.45 ) $ (2.13 )

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net, consisted of the following: December 31, (in thousands) 2015 2014 Raw materials $ 10,838 $ 9,012 Work in process 2,914 3,745 Finished goods 11,403 12,689 $ 25,155 $ 25,446

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following: December 31, (in thousands) 2015 2014 Equipment held for rental or loan $ 55,774 $ 47,313 Manufacturing equipment and computers 37,862 29,692 Leasehold improvements 8,984 6,730 Furniture and fixtures 4,840 3,473 Building and improvements 1,306 1,288 Land 271 270 Less: accumulated depreciation and amortization (64,318 ) (54,947 ) Total property and equipment, net $ 44,719 $ 33,819

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill by reporting unit for the year ended December 31, 2015 was as follows: (in thousands) U.S. Medical International Medical Total Balance as of December 31, 2014 $ 128,361 $ 21,537 $ 149,898 Goodwill acquired during the year (Note 2) 1,984 661 2,645 Other 65 8 73 Balance as of December 31, 2015 $ 130,410 $ 22,206 $ 152,616
Schedule of Acquired Intangible Assets	Intangible Assets. Acquired intangible assets as of December 31, 2015 and 2014 consisted of the following: (in thousands) December 31, 2015 December 31, 2014 Acquired as part of AngioScore acquisition (Note 2): Technology $ 73,510 $ 73,510 Customer relationships 23,320 23,320 Trademark and trade names 4,380 4,380 In-process research and development 1,254 3,750 Distributor relationships 1,940 1,940 Non-compete agreements 580 580 Acquired as part of Stellarex Acquisition (Note 2): In-process research and development 13,680 — Technology 9,000 — Trademark and trade names 400 — Transition services agreement 530 — Acquired as part of Upstream acquisition Technology 2,172 2,172 Non-compete agreement 200 200 Patents 530 530 Less: accumulated amortization (21,040 ) (7,766 ) $ 110,456 $ 102,616
Schedule of Future Amortization Expense	As of December 31, 2015 , estimated future amortization expense for intangible assets subject to amortization was as follows: (in thousands) Amortization Expense Years ending December 31: 2016 $ 12,180 2017 11,462 2018 11,196 2019 11,196 2020 10,831 Thereafter 38,657 $ 95,522

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: December 31, (in thousands) 2015 2014 Accrued payroll and employee-related expenses $ 15,797 $ 21,483 Contingent consideration, current portion 4,891 143 Accrued clinical study expense 3,868 1,358 Deferred rent 1,485 1,214 Accrued sales, income and excise taxes 1,318 1,847 Accrued royalties 1,044 841 Accrued interest 913 503 Accrued legal costs 713 4,793 Other accrued expenses 5,143 4,092 Total accrued liabilities 35,172 36,274 Less: long-term portion (1,496 ) (1,222 ) Accrued liabilities, current portion $ 33,676 $ 35,052

Stock-Based Compensation and 29

Stock-Based Compensation and Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options, Summary of Assumptions Used	The following is a summary of the assumptions used for the stock options granted during the years ended December 31, 2015 , 2014 and 2013 using the Black-Scholes pricing model: Year Ended December 31, 2015 2014 2013 Expected life (years) 5.7 5.8 5.8 Risk-free interest rate 1.57 % 1.65 % 1.37 % Expected volatility 42.74 % 61.44 % 65.54 % Expected dividend yield — — —
Stock Options, Schedule of Weighted Average Grant Date Fair Value	The following table summarizes stock option activity during the year ended December 31, 2015 : Shares Weighted Average Exercise Price Weighted Avg. Remaining Contractual Term (In Years) Aggregate Intrinsic Value Options outstanding at January 1, 2015 2,698,911 $ 11.88 Granted 353,090 24.83 Exercised (375,046 ) 6.53 Canceled (110,867 ) 21.21 Options outstanding at December 31, 2015 2,566,088 $ 14.04 6.42 $ 10,131,561 Options exercisable at December 31, 2015 1,743,426 $ 10.63 5.48 $ 9,681,199
Schedule of Restricted Stock Award and Restricted Stock Unit Activity	The following table summarizes restricted stock award activity during the year ended December 31, 2015 : Shares Weighted Average Grant Date Fair Value Restricted stock awards outstanding at January 1, 2015 26,802 $ 22.39 Awarded 26,463 27.41 Vested (26,802 ) 22.39 Awards outstanding at December 31, 2015 26,463 $ 27.41 The following table summarizes restricted stock unit activity during the year ended December 31, 2015 : Shares Weighted Average Grant Date Fair Value Restricted stock units outstanding at January 1, 2015 182,016 $ 19.35 Awarded 98,169 26.67 Vested/Released (70,288 ) 15.36 Forfeited (5,004 ) 25.18 Restricted stock units outstanding at December 31, 2015 204,893 $ 24.08
Schedule of Performance Stock Unit Activity	The following table summarizes PSU activity during the year ended December 31, 2015 : Shares Weighted Average Grant Date Fair Value Performance stock units outstanding at January 1, 2015 487,158 $ 23.43 Awarded (at target performance) 26,240 11.79 Forfeited (16,742 ) 23.43 Performance stock units outstanding at December 31, 2015 496,656 $ 22.82

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities	Stock options, restricted stock, PSUs, and shares issuable upon the conversion of the Notes outstanding at December 31, 2015 , 2014 and 2013 , which are excluded from the computation of diluted net loss per share for those years, are shown in the table below: December 31, 2015 2014 2013 Options to purchase common stock 2,566,088 2,698,911 3,153,234 Non-vested restricted stock 231,356 208,818 180,812 Non-vested performance stock units 496,656 487,158 — Shares issuable upon conversion of the Notes 7,337,459 7,337,459 — Potentially dilutive common shares 10,631,559 10,732,346 3,334,046
Schedule of Earnings Per Share, Basic and Diluted	A summary of the net loss per share calculation is shown below for the years indicated: 2015 2014 2013 Net loss (in thousands) $ (59,474 ) $ (40,901 ) $ (370 ) Common shares outstanding: Historical common shares outstanding at beginning of year (excluding shares of unvested restricted stock) 42,034,063 41,208,096 4,839,131 Weighted average common shares issued 396,158 471,273 34,101,413 Weighted average common shares outstanding-basic 42,430,221 41,679,369 38,940,544 Effect of dilution from stock options — — — Weighted average common shares outstanding-diluted 42,430,221 41,679,369 38,940,544 Net loss per share, basic and diluted $ (1.40 ) $ (0.98 ) $ (0.01 )

Segment and Geographic Report31

Segment and Geographic Reporting (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Revenue by Reporting Segments	Summary financial information relating to reportable segment operations is shown below. Intersegment transfers as well as intercompany assets and liabilities are excluded from the information provided: For the Year Ended December 31, (in thousands) 2015 2014 2013 Revenue: U.S. Medical: Disposable products $ 195,816 $ 155,107 $ 114,976 Laser, service, and other 10,867 12,292 15,150 Subtotal 206,683 167,399 130,126 International Medical: Disposable products 34,563 29,703 23,143 Laser, service, and other 4,710 7,812 5,542 Subtotal 39,273 37,515 28,685 Total revenue $ 245,956 $ 204,914 $ 158,811
Schedule of Segment Reporting Information, by Segment	U.S. Medical International Medical Total 2015 Interest income $ 25 $ 4 $ 29 Interest expense 6,882 1 6,883 Depreciation and amortization expense 24,910 1,678 26,588 Income tax expense 563 163 726 Segment operating loss (49,548 ) (981 ) (50,529 ) Segment net loss (58,095 ) (1,379 ) (59,474 ) Capital expenditures 9,423 115 9,538 Total assets $ 430,956 $ 37,043 $ 467,999 U.S. Medical International Medical Total 2014 Interest income $ 44 $ 2 $ 46 Interest expense 4,098 10 4,108 Depreciation and amortization expense 15,205 1,608 16,813 Income tax (benefit) expense (887 ) 565 (322 ) Segment operating (loss) income (39,267 ) 2,317 (36,950 ) Segment net (loss) income (42,628 ) 1,727 (40,901 ) Capital expenditures 6,532 190 6,722 Total assets $ 423,039 $ 34,799 $ 457,838 U.S. Medical International Medical Total 2013 Interest income $ 61 $ — $ 61 Interest expense 58 — 58 Depreciation and amortization expense 9,217 1,393 10,610 Income tax expense 402 378 780 Segment operating (loss) income (1,276 ) 1,670 394 Segment net (loss) income (1,666 ) 1,296 (370 ) Capital expenditures 4,406 214 4,620 Total assets $ 198,194 $ 18,518 $ 216,712
Schedule of Revenue by Product Line	Revenue by Product Line For the Year Ended December 31, (in thousands) 2015 2014 2013 Revenue Disposable products revenue: Vascular intervention $ 160,480 $ 118,148 $ 75,601 Lead management 69,899 66,662 62,518 Total disposable products 230,379 184,810 138,119 Laser, service, and other 15,577 20,104 20,692 Total revenue $ 245,956 $ 204,914 $ 158,811

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The following table summarizes our total gross outstanding debt as of December 31, 2015 and December 31, 2014 and the significant terms of our borrowing arrangements: Year Ended December 31, Maturity Date Weighted Average Interest Rate (amounts in thousands) 2015 2014 Convertible Senior Notes $ 230,000 $ 230,000 June 1, 2034 2.625% Term Loan Facility 60,000 — December 7, 2020 (1) Revolving Loan Facility 24,232 — December 7, 2020 (1) Total $ 314,232 $ 230,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Sources of Income (Loss) Before Income Taxes	The sources of (loss) income before income taxes are as follows: (in thousands) 2015 2014 2013 United States $ (58,252 ) $ (43,217 ) $ (1,298 ) Foreign (primarily the Netherlands) (496 ) 1,994 1,708 (Loss) income before income taxes $ (58,748 ) $ (41,223 ) $ 410
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense (benefit) attributable to (loss) income before income taxes consists of the following: (in thousands) 2015 2014 2013 Current: Federal $ — $ — $ — State 126 72 66 Foreign 114 515 328 240 587 394 Deferred: Federal 400 (874 ) 301 State 36 (85 ) 35 Foreign 50 50 50 486 (909 ) 386 Income tax (benefit) expense $ 726 $ (322 ) $ 780
Schedule of Effective Income Tax Rate Reconciliation	Income tax (benefit) expense attributable to (loss) income before income taxes differed from the amounts computed by applying the U.S. federal income tax rate of 34% to (loss) income before income taxes as a result of the following: (in thousands) 2015 2014 2013 Computed expected tax (benefit) expense $ (19,974 ) $ (14,016 ) $ 140 Increase (reduction) in income tax (benefit) expense resulting from: State and local income taxes, net of federal impact (2,270 ) (1,211 ) (116 ) Stock-based compensation 1,028 46 169 Nondeductible expenses 517 2,652 55 Change in valuation allowance 31,037 13,540 (332 ) Change in contingent consideration liability (7,870 ) — — Release of valuation allowance related to AngioScore acquisition — (1,266 ) — Change in deferred rate (75 ) 193 5 Foreign operations 616 179 (49 ) Research and development credit (2,283 ) (439 ) 908 Income tax (benefit) expense $ 726 $ (322 ) $ 780
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2015 and 2014 are as follows: (in thousands) 2015 2014 Deferred tax assets: Net operating loss carryforwards–U.S. and related states $ 74,886 $ 55,002 Net operating loss carryforwards–foreign 286 — Charitable contribution carryover 219 212 Capital loss carryover 131 403 Amortization of intangibles 1,146 1,031 Stock compensation expense related to nonqualified stock options 3,914 2,434 Research and experimentation tax credit 7,383 4,689 Alternative minimum tax credit 298 298 Accrued liabilities 2,110 1,895 Inventories 2,680 1,938 Deferred revenue 512 544 93,565 68,446 Less valuation allowance (60,790 ) (29,815 ) Deferred tax assets, net $ 32,775 $ 38,631 Deferred tax liabilities: Equipment $ (2,152 ) $ (2,192 ) Long-lived intangible assets (32,538 ) (37,916 ) Total deferred tax liabilities $ (34,690 ) $ (40,108 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum payments under noncancelable operating leases as of December 31, 2015 were as follows: (in thousands) Operating Leases Years ending December 31: 2016 $ 3,275 2017 3,333 2018 2,716 2019 2,319 2020 2,263 Thereafter 7,075 $ 20,981

Selected Quarterly Financial 35

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]
Schedule of Quarterly Financial Information	2015 2014 Q1(1) Q2(1)(3) Q3(1)(4) Q4(1)(5)(6) Q1(1) Q2(1)(2) Q3(1)(4) Q4(1)(5) (In thousands, except per share amounts) Net sales $ 57,422 $ 61,677 $ 61,660 $ 65,197 $ 39,614 $ 43,555 $ 58,786 $ 62,959 Gross profit 42,369 45,763 45,851 48,839 29,280 33,049 43,086 46,040 Net loss (27,305 ) (7,216 ) (14,493 ) (10,460 ) (5,661 ) (5,299 ) (13,944 ) (15,997 ) Net loss per share (7): Basic and diluted $ (0.65 ) $ (0.17 ) $ (0.34 ) $ (0.25 ) $ (0.14 ) $ (0.13 ) $ (0.33 ) $ (0.38 ) (1) During the first, second, third and fourth quarters of 2015, the Company incurred $10.4 million , $11.1 million , $5.4 million and $2.4 million , respectively, in transaction, integration and legal costs related to the acquisitions of AngioScore and Stellarex. See Note 2, “Business Combinations.” During the first, second, third and fourth quarters of 2014, the Company incurred $0.3 million , $4.0 million , $3.8 million and $7.8 million , respectively, in transaction and integration costs related to the acquisition of AngioScore. During the fourth quarter of 2014, the Company incurred $1.5 million in transaction costs related to the acquisition of Stellarex. See Note 2, “Business Combinations.” (2) Net loss and net loss per share have been adjusted from the previously filed Form 10-Q as of June 30, 2014 to reflect adjustments made during the measurement period to provisional amounts recognized for the AngioScore acquisition at the acquisition date. The Company recorded a deferred tax benefit of $1.3 million related to a partial release of valuation allowance related to the AngioScore acquisition. See Note 13, “Income Taxes.” (3) During the second quarter of 2015, the Company reduced its contingent consideration liability by $17.8 million as a result of a decrease in future revenue estimates for the AngioSculpt products. See Note 2, “Business Combinations.” (4) During the third quarter of 2015, the Company recorded an intangible asset impairment of $2.5 million as a partial impairment of the in-process research and development intangible assets acquired as part of the AngioScore acquisition. The Company also reduced the contingent consideration liability related to regulatory milestone payments by $4.3 million . See Note 2, “Business Combinations.” During the third quarter of 2014, the Company recorded an impairment charge of $4.1 million and a reduction of $1.1 million to the contingent consideration liability related to certain assets and liabilities recorded from the acquisition of the Upstream products in 2013. See Note 5, “Goodwill and Other Intangible Assets.” (5) During the fourth quarter of 2015, the Company reduced its contingent consideration liability by $3.7 million as a result of a decrease in future revenue estimates for the AngioSculpt products. (6) In the fourth quarter of 2015, we revised our estimate related to the achievement of the PSU performance targets, the cumulative effect of which resulted in an approximate $1.7 million reversal of amounts previously recorded. (7) The sum of the quarterly net income per share amounts may not total to each full year amount because these computations are made independently for each quarter and for the full year, and take into account the weighted average number of common stock equivalent shares outstanding for each period.

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)placement_programs	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Property, Plant and Equipment [Line Items]
Estimated fair value of the Notes	$ 174,800,000
Recognition of deferred revenue	$ 600,000	$ 700,000	$ 700,000
Number of placement programs | placement_programs	4
Expected life of laser systems	5 years
Revenue from international distributors, percentage	8.00%
Deferred revenue	$ 1,621,000	1,894,000
Medical device excise tax, percent of taxable base	2.30%
Medical device excise tax	$ 3,465,000	2,834,000	2,138,000
Research, development and other technology	64,436,000	28,675,000	22,080,000
Royalty expense	3,600,000	2,700,000	2,000,000
Clinical trial costs	20,000,000	4,100,000	3,800,000
Advertising expense	1,600,000	2,000,000	$ 1,900,000
Debt issuance costs	7,300,000	6,900,000
Noncurrent debt- Term Loan & Convertible Notes	290,000,000
Convertible Senior Notes	230,000,000	230,000,000
Current deferred tax assets	1,700,000	2,200,000
Deferred tax liabilities, noncurrent	$ (3,600,000)	$ (3,700,000)
Performance Stock Units | Share-based Compensation Award, Tranche One
Property, Plant and Equipment [Line Items]
PSU, vesting period	3 years
Minimum
Property, Plant and Equipment [Line Items]
Intangible assets, straight-line method, amortization period	2 years
Minimum | Straight Rental Program [Member]
Property, Plant and Equipment [Line Items]
Rental revenue	$ 2,500
Minimum | Evaluation Program [Member]
Property, Plant and Equipment [Line Items]
Loan period of laser systems	3 months
Maximum
Property, Plant and Equipment [Line Items]
Intangible assets, straight-line method, amortization period	12 years
Maximum | Straight Rental Program [Member]
Property, Plant and Equipment [Line Items]
Rental revenue	$ 3,500
Manufacturing Equipment, Equipment Held for Rental or Loan, Computers, and Furniture and Fixtures [Member] | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Manufacturing Equipment, Equipment Held for Rental or Loan, Computers, and Furniture and Fixtures [Member] | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) - USD ($) $ in Thousands	Jan. 27, 2015	Jun. 30, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Cash paid to acquire business												$ 30,000	$ 233,978	$ 6,500
Acquisition transaction, integration and legal costs			$ 2,400	$ 5,400	$ 11,100	$ 10,400						29,472	17,288	0
Purchase price contingent consideration												0	25,886
Change in fair value of contingent consideration liability			$ 3,700	4,300	$ 17,800		$ (1,100)					(25,819)	(1,064)	(5,165)
Intangible asset impairment				$ 2,500			4,100					2,496	4,138	4,490
Amortization of acquired inventory step-up												251	2,074	$ 0
Stellarex
Business Acquisition [Line Items]
Cash paid to acquire business	$ 30,000
Losses of Stellarex since acquisition date											$ (44,400)
Acquisition transaction, integration and legal costs							1,500				$ 8,000
AngioScore
Business Acquisition [Line Items]
Acquisition transaction, integration and legal costs							$ 7,800	$ 3,800	$ 4,000	$ 300		21,500
Purchase price contingent consideration													25,900
Minimum | AngioScore
Business Acquisition [Line Items]
Discount rate		9.00%
Maximum | AngioScore
Business Acquisition [Line Items]
Discount rate		19.00%
Revenue Milestone [Member]
Business Acquisition [Line Items]
Change in fair value of contingent consideration liability												21,500
Project Completion [Member]
Business Acquisition [Line Items]
Change in fair value of contingent consideration liability												4,300
Acquisition-related Costs [Member]
Business Acquisition [Line Items]
Acquisition transaction, integration and legal costs												$ 1,700	$ 5,700

Business Combinations (Schedule

Business Combinations (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jan. 27, 2015	Dec. 31, 2015	Dec. 31, 2014
Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill		$ 152,616	$ 149,898
Stellarex
Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Inventories	$ 1,337
Property and equipment, net	2,701
Total tangible assets acquired	4,038
Less: liabilities assumed	293
Net tangible assets acquired	3,745
Goodwill	2,645
Total purchase price	30,000
Stellarex | IPR&D
Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets, indefinite lived	13,680	13,680	0
Stellarex | Technology
Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Amortizable intangible assets	$ 9,000	9,000	0
Amortization period (in years)	12 years
Stellarex | Trademark and trade names
Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Amortizable intangible assets	$ 400	400	0
Amortization period (in years)	12 years
Stellarex | Transition services agreement
Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Amortizable intangible assets	$ 530	$ 530	$ 0
Amortization period (in years)	6 months

Business Combinations (Schedu39

Business Combinations (Schedule of Changes In Contingent Consideration) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Combinations [Abstract]
Beginning balance					$ 28,694	$ 1,802
Purchase price contingent consideration					0	25,886
Change in fair value of contingent consideration	$ (3,700)	$ (4,300)	$ (17,800)	$ 1,100	25,819	1,064	$ 5,165
Contingent consideration payments					(393)	0	0
Contingent consideration accretion expense					2,671	2,070	867
Ending balance	$ 5,153			$ 28,694	$ 5,153	$ 28,694	$ 1,802

Business Combinations (Schedu40

Business Combinations (Schedule of Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Revenue	$ 245,956	$ 235,318
Net loss	$ (61,542)	$ (88,597)
Net loss per share	$ (1.45)	$ (2.13)

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jan. 27, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Inventories, net	$ 25,155		$ 25,446
Stellarex
Business Acquisition [Line Items]
Inventory acquired in acquisition		$ 1,337
Inventories, net	$ 2,100

Inventories (Schedule of Invent

Inventories (Schedule of Inventories, Net) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 10,838	$ 9,012
Work in process	2,914	3,745
Finished goods	11,403	12,689
Total inventories, net	$ 25,155	$ 25,446

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 27, 2015
Business Acquisition [Line Items]
Depreciation expense	$ 12,300	$ 9,500	$ 8,800
Software amortization expense	$ 1,000	$ 900	$ 900
Stellarex
Business Acquisition [Line Items]
Property and equipment, acquired, net				$ 2,701

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment, Net) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (64,318)	$ (54,947)
Total property and equipment	44,719	33,819
Equipment Held for Rental or Loan
Property, Plant and Equipment [Line Items]
Property and equipment, gross	55,774	47,313
Manufacturing Equipment and Computers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	37,862	29,692
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,984	6,730
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,840	3,473
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,306	1,288
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 271	$ 270

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill		$ 149,898	$ 152,616	$ 149,898
Intangible asset impairment	$ 2,500	$ 4,100	2,496	4,138	$ 4,490
Intangible asset amortization			$ 13,275	$ 6,335	$ 901

Goodwill and Other Intangible46

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2014	$ 149,898
Goodwill acquired during the year (Note 2)	2,645
Other	73
Balance as of December 31, 2015	152,616
U.S. Medical
Goodwill [Roll Forward]
Balance as of December 31, 2014	128,361
Goodwill acquired during the year (Note 2)	1,984
Other	65
Balance as of December 31, 2015	130,410
International Medical
Goodwill [Roll Forward]
Balance as of December 31, 2014	21,537
Goodwill acquired during the year (Note 2)	661
Other	8
Balance as of December 31, 2015	$ 22,206

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jan. 27, 2015	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (21,040)		$ (7,766)
Other intangible assets, net	110,456		102,616
Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Patents, Gross	530		530
AngioScore | Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	73,510		73,510
AngioScore | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	23,320		23,320
AngioScore | Trademark and trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	4,380		4,380
AngioScore | IPR&D
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, indefinite lived	1,254		3,750
AngioScore | Distributor relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	1,940		1,940
AngioScore | Non-compete agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	580		580
Stellarex | Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	9,000	$ 9,000	0
Stellarex | Trademark and trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	400	400	0
Stellarex | Transition services agreement
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	530	530	0
Stellarex | IPR&D
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, indefinite lived	13,680	$ 13,680	0
Upstream | Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	2,172		2,172
Upstream | Non-compete agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired amortizable intangible assets	$ 200		$ 200

Goodwill and Other Intangible48

Goodwill and Other Intangible Assets (Schedule of Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 12,180
2,017	11,462
2,018	11,196
2,019	11,196
2,020	10,831
Thereafter	38,657
Total future amortization expense	$ 95,522

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Abstract]
Accrued payroll and employee-related expenses	$ 15,797	$ 21,483
Contingent consideration, current portion	4,891	143
Accrued clinical study expense	3,868	1,358
Deferred rent	1,485	1,214
Accrued sales, income and excise taxes	1,318	1,847
Accrued royalties	1,044	841
Accrued interest	913	503
Accrued legal costs	713	4,793
Other accrued expenses	5,143	4,092
Total accrued liabilities	35,172	36,274
Less: long-term portion	(1,496)	(1,222)
Accrued liabilities, current portion	$ 33,676	$ 35,052

Common Stock Offering (Details)

Common Stock Offering (Details) - USD ($) $ / shares in Units, $ in Thousands	May. 01, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Issuance of common stock in secondary public offering, net of offering costs (shares)	5,462,500
Common stock offering, price per share	$ 18
Underwriting discount, per share	$ 1.08
Net proceeds from stock offering		$ 0	$ 0	$ 92,034
Underwriting discounts and offering expenses				$ 400

Stock-Based Compensation and 51

Stock-Based Compensation and Employee Benefit Plans (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 10,111,000	$ 8,316,000	$ 4,101,000
Tax benefit from stock options exercised		$ 2,400,000	3,000,000	1,400,000
Increase (decrease) in stock-based compensation expense accrual	$ (1,700,000)
Closing stock price	$ 15.06	$ 15.06
Unrecognized compensation expense	$ 16,000,000	$ 16,000,000
Estimated forfeiture rate	6.68%	6.68%
Weighted-average recognition period		2 years 3 months
Stock purchase period		6 months
Employer discretionary contribution amount		$ 1,800,000	$ 1,300,000	$ 900,000
Employer matching contribution, percent		50.00%
Maximum annual contribution per employee, percent		6.00%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU, vesting period		4 years
Award expiration period		10 years
Weighted average grant date fair value		$ 10.32	$ 13.59	$ 10.80
In-the-money options exercisable, amount	1,300,000	1,300,000
Total intrinsic value of options exercised		$ 8,300,000	$ 14,800,000	$ 9,200,000
Option purchase holding period		1 year
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 900,000	$ 800,000
Employee Stock Purchase Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance			59,430
Stock-based compensation expense				$ 400,000
Number of shares authorized	700,000	700,000
Maximum number of shares per employee		2,500
Maximum fair value per employee		$ 25,000
Purchase price of common stock, percent		85.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 10,900,000	$ 10,900,000
Minimum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout opportunities, percent	0.00%	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	2,200,000	2,200,000
Unrecognized compensation expense	$ 34,100,000	$ 34,100,000
Stock purchase period		6 months
Maximum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout opportunities, percent	250.00%	250.00%
Members of the Board of Directors | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU, vesting period		1 year
Certain Officers | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU, vesting period		4 years
Share-based Compensation Award, Tranche One | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU, vesting period		3 years

Stock-Based Compensation and 52

Stock-Based Compensation and Employee Benefit Plans (Stock Options, Summary of Assumptions Used) (Details) - Stock Options	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	5 years 8 months 12 days	5 years 9 months 18 days	5 years 9 months 18 days
Risk-free interest rate	1.57%	1.65%	1.37%
Expected volatility	42.74%	61.44%	65.54%
Expected dividend yield	0.00%	0.00%	0.00%

Stock-Based Compensation and 53

Stock-Based Compensation and Employee Benefit Plans (Stock Options, Schedule of Weighted Average Grant Date Fair Value) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at January 1, 2015 (shares)	2,698,911
Granted (shares)	353,090
Exercised (shares)	(375,046)
Canceled (shares)	(110,867)
Options outstanding at December 31, 2015 (shares)	2,566,088
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Options outstanding at January 1, 2015, Weighted Average Exercise Price (usd per share) | $ / shares	$ 11.88
Granted, Weighted Average Exercise Price (usd per share) | $ / shares	24.83
Exercised, Weighted Average Exercise Price (usd per share) | $ / shares	6.53
Canceled, Weighted Average Exercise Price (usd per share) | $ / shares	21.21
Options outstanding at December 31, 2015, Weighted Average Exercise Price (usd per share) | $ / shares	$ 14.04
Options outstanding at December 31, 2015 (shares)	2,566,088
Options exercisable at December 31, 2015 (shares)	1,743,426
Options exercisable at December 31, 2015, Weighted Average Exercise Price (usd per share) | $ / shares	$ 10.63
Options outstanding at December 31, 2015, Weighted Average Remaining Contractual Term (In Years)	6 years 5 months 1 day
Options exercisable at December 31, 2015, Weighted Average Remaining Contractual Term (In Years)	5 years 5 months 23 days
Options outstanding at December 31, 2015, Aggregate Intrinsic Value | $	$ 10,131,561
Options exercisable at December 31, 2015, Aggregate Intrinsic Value | $	$ 9,681,199

Stock-Based Compensation and 54

Stock-Based Compensation and Employee Benefit Plans (Schedule of Restricted Stock Award and Restricted Stock Unit Activity and Schedule of Performance Stock Unit Activity) (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Restricted Stock
Awards/Unit, Number of Shares [Roll Forward]
Awards/units outstanding at January 1, 2015 | shares	26,802
Awarded | shares	26,463
Vested | shares	(26,802)
Awards/units outstanding at December 31, 2015 | shares	26,463
Awards/Unit Weighted Average Grant Date Fair Value [Abstract]
Awards/units outstanding at January 1, 2015, Weighted Average Grant Date Fair Value | $ / shares	$ 22.39
Awarded, Weighted Average Grant Date Fair Value | $ / shares	27.41
Vested, Weighted Average Grant Date Fair Value | $ / shares	22.39
Awards/units outstanding at December 31, 2015, Weighted Average Grant Date Fair Value | $ / shares	$ 27.41
Restricted Stock Units
Awards/Unit, Number of Shares [Roll Forward]
Awards/units outstanding at January 1, 2015 | shares	182,016
Awarded | shares	98,169
Vested | shares	(70,288)
Forfeited | shares	(5,004)
Awards/units outstanding at December 31, 2015 | shares	204,893
Awards/Unit Weighted Average Grant Date Fair Value [Abstract]
Awards/units outstanding at January 1, 2015, Weighted Average Grant Date Fair Value | $ / shares	$ 19.35
Awarded, Weighted Average Grant Date Fair Value | $ / shares	26.67
Vested, Weighted Average Grant Date Fair Value | $ / shares	15.36
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	25.18
Awards/units outstanding at December 31, 2015, Weighted Average Grant Date Fair Value | $ / shares	$ 24.08
Performance Stock Units
Awards/Unit, Number of Shares [Roll Forward]
Awards/units outstanding at January 1, 2015 | shares	487,158
Awarded | shares	26,240
Forfeited | shares	(16,742)
Awards/units outstanding at December 31, 2015 | shares	496,656
Awards/Unit Weighted Average Grant Date Fair Value [Abstract]
Awards/units outstanding at January 1, 2015, Weighted Average Grant Date Fair Value | $ / shares	$ 23.43
Awarded, Weighted Average Grant Date Fair Value | $ / shares	11.79
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	23.43
Awards/units outstanding at December 31, 2015, Weighted Average Grant Date Fair Value | $ / shares	$ 22.82

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Antidilutive Securities) (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10,631,559	10,732,346	3,334,046
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,566,088	2,698,911	3,153,234
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	231,356	208,818	180,812
Non-vested performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	496,656	487,158	0
Shares issuable upon conversion of the Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,337,459	7,337,459	0

Net Loss Per Share (Schedule 56

Net Loss Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net loss	$ (10,460)	$ (14,493)	$ (7,216)	$ (27,305)	$ (15,997)	$ (13,944)	$ (5,299)	$ (5,661)	$ (59,474)	$ (40,901)	$ (370)
Historical common shares outstanding at beginning of year (excluding shares of unvested restricted stock)	42,034,063				41,208,096				42,034,063	41,208,096	4,839,131
Weighted average common shares issued									396,158	471,273	34,101,413
Weighted average common shares outstanding-basic									42,430,221	41,679,369	38,940,544
Effect of dilution from stock options									0	0	0
Weighted average common shares outstanding-diluted									42,430,221	41,679,369	38,940,544
Net loss per share, basic and diluted	$ (0.25)	$ (0.34)	$ (0.17)	$ (0.65)	$ (0.38)	$ (0.33)	$ (0.13)	$ (0.14)	$ (1.40)	$ (0.98)	$ (0.01)

Concentrations of Credit Risk (

Concentrations of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2015customer
Revenue or Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers	0

Segment and Geographic Report58

Segment and Geographic Reporting (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Line_of_BusinesscustomerSegments	Dec. 31, 2014USD ($)customer	Dec. 31, 2013USD ($)customer
Segment Reporting Information [Line Items]
Number of lines of business | Line_of_Business	1
Number of reportable segments | Segments	2
U.S. Medical
Segment Reporting Information [Line Items]
Revenue associated with intersegment product transfers to International Medical | $	$ 13.9	$ 8.1	$ 7.6
International Medical
Segment Reporting Information [Line Items]
Long-lived assets | $	$ 27.1	$ 26.6
Customer Concentration Risk | Sales Revenue
Segment Reporting Information [Line Items]
Number of customers representing 10% or more of consolidated revenue | customer	0	0	0
Geographic Concentration Risk | Sales Revenue
Segment Reporting Information [Line Items]
Number of countries representing 10% or more of consolidated revenue | customer	0	0	0

Segment and Geographic Report59

Segment and Geographic Reporting (Schedule of Revenue by Reporting Segments) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segments, Geographical Areas [Abstract]
Revenue	$ 65,197	$ 61,660	$ 61,677	$ 57,422	$ 62,959	$ 58,786	$ 43,555	$ 39,614	$ 245,956	$ 204,914	$ 158,811
U.S. Medical
Segments, Geographical Areas [Abstract]
Revenue									206,683	167,399	130,126
International Medical
Segments, Geographical Areas [Abstract]
Revenue									39,273	37,515	28,685
Disposable products
Segments, Geographical Areas [Abstract]
Revenue									230,379	184,810	138,119
Disposable products | U.S. Medical
Segments, Geographical Areas [Abstract]
Revenue									195,816	155,107	114,976
Disposable products | International Medical
Segments, Geographical Areas [Abstract]
Revenue									34,563	29,703	23,143
Laser, service, and other
Segments, Geographical Areas [Abstract]
Revenue									15,577	20,104	20,692
Laser, service, and other | U.S. Medical
Segments, Geographical Areas [Abstract]
Revenue									10,867	12,292	15,150
Laser, service, and other | International Medical
Segments, Geographical Areas [Abstract]
Revenue									$ 4,710	$ 7,812	$ 5,542

Segment and Geographic Report60

Segment and Geographic Reporting (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Interest income									$ 29	$ 46	$ 61
Interest expense									6,883	4,108	58
Depreciation and amortization expense									26,588	16,813	10,610
Income tax expense (benefit)									726	(322)	780
Segment operating (loss) income									(50,529)	(36,950)	394
Segment net (loss) income	$ (10,460)	$ (14,493)	$ (7,216)	$ (27,305)	$ (15,997)	$ (13,944)	$ (5,299)	$ (5,661)	(59,474)	(40,901)	(370)
Capital expenditures									9,538	6,722	4,620
Total assets	467,999				457,838				467,999	457,838	216,712
U.S. Medical
Segment Reporting Information [Line Items]
Interest income									25	44	61
Interest expense									6,882	4,098	58
Depreciation and amortization expense									24,910	15,205	9,217
Income tax expense (benefit)									563	(887)	402
Segment operating (loss) income									(49,548)	(39,267)	(1,276)
Segment net (loss) income									(58,095)	(42,628)	(1,666)
Capital expenditures									9,423	6,532	4,406
Total assets	430,956				423,039				430,956	423,039	198,194
International Medical
Segment Reporting Information [Line Items]
Interest income									4	2	0
Interest expense									1	10	0
Depreciation and amortization expense									1,678	1,608	1,393
Income tax expense (benefit)									163	565	378
Segment operating (loss) income									(981)	2,317	1,670
Segment net (loss) income									(1,379)	1,727	1,296
Capital expenditures									115	190	214
Total assets	$ 37,043				$ 34,799				$ 37,043	$ 34,799	$ 18,518

Segment and Geographic Report61

Segment and Geographic Reporting (Schedule of Revenue by Product Line) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue from External Customer [Line Items]
Revenue	$ 65,197	$ 61,660	$ 61,677	$ 57,422	$ 62,959	$ 58,786	$ 43,555	$ 39,614	$ 245,956	$ 204,914	$ 158,811
Disposable products
Revenue from External Customer [Line Items]
Revenue									230,379	184,810	138,119
Laser, service, and other
Revenue from External Customer [Line Items]
Revenue									15,577	20,104	20,692
Vascular intervention | Disposable products
Revenue from External Customer [Line Items]
Revenue									160,480	118,148	75,601
Lead management | Disposable products
Revenue from External Customer [Line Items]
Revenue									$ 69,899	$ 66,662	$ 62,518

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 03, 2014	Dec. 31, 2015	Dec. 31, 2015	Dec. 07, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Convertible Senior Notes		$ 230,000	$ 230,000		$ 230,000
Debt issuance costs			700
Revolving Loan Facility, minimum cash and cash equivalents required		10,000	10,000
Term Loan Facility		59,601	59,601	$ 60,000	0
Revolving Loan Facility		24,232	24,232	$ 18,000	0
Extinguishment of debt, amount		3,000
Write-off of unamortized debt issuance costs related to debt extinguishment			200
Line of credit, borrowing capacity		35,200	35,200
Term Loan Facility		60,000	60,000		$ 0
Convertible Notes
Debt Instrument [Line Items]
Convertible Senior Notes		$ 230,000	$ 230,000
Stated interest rate		2.625%	2.625%
Conversion ratio			31.9020
Conversion price		$ 31.35	$ 31.35
Threshold percentage of stock price trigger			130.00%
Percent of principal amount redeemed			100.00%
Proceeds from debt, net of issuance costs	$ 222,500
Debt issuance costs	$ 7,500
Discount amortization period			7 years
Term Loan
Debt Instrument [Line Items]
Stated interest rate		8.00%	8.00%
Debt instrument, term			5 years
Debt instrument, face amount		$ 60,000	$ 60,000
Debt Instrument, exit fee			4.00%
Line of Credit
Debt Instrument [Line Items]
Stated interest rate		4.95%	4.95%
Debt instrument, term			5 years
Line of credit, maximum availability		$ 50,000	$ 50,000
Line of credit, fee percentage on unused portion			0.50%
Borrowings under revolving line of credit			35.00%
Percentage of average borrowing base after first anniversary			50.00%
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, EBITDA required to reduce LIBOR margin rate		6,000	$ 6,000
Minimum | Term Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Line of credit, interest rate spread			6.50%
Maximum | Term Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Line of credit, interest rate spread			7.50%
Maximum | Line of Credit
Debt Instrument [Line Items]
Line of credit, maximum availability		$ 70,000	$ 70,000
Maximum | Line of Credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Line of credit, interest rate spread			4.45%

Debt (Schedule of Outstanding D

Debt (Schedule of Outstanding Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 07, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Convertible Senior Notes	$ 230,000		$ 230,000
Term Loan Facility	60,000		0
Revolving Loan Facility	24,232	$ 18,000	0
Total	314,232		$ 230,000
Convertible Notes
Debt Instrument [Line Items]
Convertible Senior Notes	$ 230,000
Maturity date	Jun. 1, 2034
Interest rate	2.625%
Term Loan
Debt Instrument [Line Items]
Maturity date	Dec. 7, 2020
Interest rate	8.00%
Line of Credit
Debt Instrument [Line Items]
Maturity date	Dec. 7, 2020
Interest rate	4.95%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Line Items]
U.S. federal income tax rate	34.00%
Income tax expense (benefit)	$ 726	$ (322)	$ 780
Release of valuation allowance related to AngioScore acquisition	0	(1,266)	0
Current deferred tax assets	1,700	2,200
Deferred tax liabilities, noncurrent	(3,600)	(3,700)
Tax benefit from stock options exercised	2,400	3,000	$ 1,400
Undistributed earnings of foreign subsidiaries	(20,500)	$ (20,000)
Unrecognized tax benefits	100
Increase (decrease) in unrecognized tax benefits	(200)
Capital Loss Carryforward
Income Tax Disclosure [Line Items]
Tax credit carryforwards	400
Alternative minimum tax carryforward
Income Tax Disclosure [Line Items]
Operating loss carryforwards	217,500
Tax credit carryforwards	300
Research Tax Credit Carryforward
Income Tax Disclosure [Line Items]
Tax credit carryforwards	5,700
Domestic Tax Authority [Member]
Income Tax Disclosure [Line Items]
Operating loss carryforwards	218,500
State and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Operating loss carryforwards	$ 165,100

Income Taxes (Schedule of Sourc

Income Taxes (Schedule of Sources of Income (Loss) Before Income Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
United States	$ (58,252)	$ (43,217)	$ (1,298)
Foreign (primarily the Netherlands)	(496)	1,994	1,708
(Loss) income before income taxes	$ (58,748)	$ (41,223)	$ 410

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 0	$ 0	$ 0
State	126	72	66
Foreign	114	515	328
Current Income Tax Expense (Benefit)	240	587	394
Deferred:
Federal	400	(874)	301
State	36	(85)	35
Foreign	50	50	50
Deferred Income Tax Expense (Benefit)	486	(909)	386
Income tax (benefit) expense	$ 726	$ (322)	$ 780

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (reduction) in income tax (benefit) expense resulting from:
Computed expected tax (benefit) expense	$ (19,974)	$ (14,016)	$ 140
State and local income taxes, net of federal impact	(2,270)	(1,211)	(116)
Stock-based compensation	1,028	46	169
Nondeductible expenses	517	2,652	55
Change in valuation allowance	31,037	13,540	(332)
Change in contingent consideration liability	(7,870)	0	0
Release of valuation allowance related to AngioScore acquisition	0	(1,266)	0
Change in deferred rate	(75)	193	5
Foreign operations	616	179	(49)
Research and development credit	(2,283)	(439)	908
Income tax (benefit) expense	$ 726	$ (322)	$ 780

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Net operating loss carryforwards–U.S. and related states	$ 74,886	$ 55,002
Net operating loss carryforwards–foreign	286	0
Charitable contribution carryover	219	212
Capital loss carryover	131	403
Amortization of intangibles	1,146	1,031
Stock compensation expense related to nonqualified stock options	3,914	2,434
Research and experimentation tax credit	7,383	4,689
Alternative minimum tax credit	298	298
Accrued liabilities	2,110	1,895
Inventories	2,680	1,938
Deferred revenue	512	544
Deferred tax assets	93,565	68,446
Less valuation allowance	(60,790)	(29,815)
Deferred tax assets, net	32,775	38,631
Deferred tax liabilities:
Equipment	(2,152)	(2,192)
Long-lived intangible assets	(32,538)	(37,916)
Total deferred tax liabilities	$ (34,690)	$ (40,108)

Commitments and Contingencies69

Commitments and Contingencies (Narrative) (Details) $ in Thousands	Jun. 25, 2014patent	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Loss Contingencies [Line Items]
Acquisition transaction, integration and legal costs		$ 2,400	$ 5,400	$ 11,100	$ 10,400	$ 29,472	$ 17,288	$ 0
Rent expense						3,500	$ 2,700	$ 2,400
US District Court of Northern California
Loss Contingencies [Line Items]
Loss contingency, patents involved in litigation, number | patent	3
Trireme Litigation [Member]
Loss Contingencies [Line Items]
Litigation settlement, amount						20,034
Acquisition transaction, integration and legal costs						$ 19,900

Commitments and Contingencies70

Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 3,275
2,017	3,333
2,018	2,716
2,019	2,319
2,020	2,263
Thereafter	7,075
Total minimum lease payments	$ 20,981

Selected Quarterly Financial 71

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Selected Quarterly Financial Information [Abstract]
Net sales	$ 65,197	$ 61,660	$ 61,677	$ 57,422	$ 62,959	$ 58,786	$ 43,555	$ 39,614	$ 245,956	$ 204,914	$ 158,811
Gross profit	48,839	45,851	45,763	42,369	46,040	43,086	33,049	29,280	182,822	151,455	117,455
Net loss	$ (10,460)	$ (14,493)	$ (7,216)	$ (27,305)	$ (15,997)	$ (13,944)	$ (5,299)	$ (5,661)	$ (59,474)	$ (40,901)	$ (370)
Net Income (Loss) Per Share [Abstract]
Net loss per share, basic and diluted	$ (0.25)	$ (0.34)	$ (0.17)	$ (0.65)	$ (0.38)	$ (0.33)	$ (0.13)	$ (0.14)	$ (1.40)	$ (0.98)	$ (0.01)

Selected Quarterly Financial 72

Selected Quarterly Financial Data (Unaudited) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Acquisition transaction, integration and legal costs	$ 2,400	$ 5,400	$ 11,100	$ 10,400						$ 29,472	$ 17,288	$ 0
Release of valuation allowance related to AngioScore acquisition										0	(1,266)	0
Change in fair value of contingent consideration	(3,700)	(4,300)	$ (17,800)		$ 1,100					25,819	1,064	5,165
Intangible asset impairment		$ 2,500			4,100					2,496	$ 4,138	$ 4,490
Increase (decrease) in stock-based compensation expense accrual	$ (1,700)
AngioScore
Business Acquisition [Line Items]
Acquisition transaction, integration and legal costs					7,800	$ 3,800	$ 4,000	$ 300		$ 21,500
Stellarex
Business Acquisition [Line Items]
Acquisition transaction, integration and legal costs					$ 1,500				$ 8,000

Schedule II - Valuation and Q73

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for doubtful accounts and sales returns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 1,615	$ 782	$ 589
Charged (Credited) to Revenue, Costs or Expenses	2,074	2,271	1,153
Charged (Credited) to Other Accounts - describe	0	0	0
Deductions	1,783	1,438	960
Balance at End of Year	1,906	1,615	782
Inventory reserves
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	2,419	918	914
Charged (Credited) to Revenue, Costs or Expenses	2,867	426	213
Charged (Credited) to Other Accounts - describe	0	1,267	0
Deductions	1,415	192	209
Balance at End of Year	3,871	2,419	918
Valuation allowance for deferred tax assets
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	29,815	11,794	12,781
Charged (Credited) to Revenue, Costs or Expenses	30,975	13,540	(987)
Charged (Credited) to Other Accounts - describe	0	5,747	0
Deductions	0	1,266	0
Balance at End of Year	$ 60,790	$ 29,815	$ 11,794