Merit Medical Systems (MMSI) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document Information [Abstract]
Entity Registrant Name	MERIT MEDICAL SYSTEMS INC
Entity Central Index Key	856982
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		44,029,367

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$9,908,000	$7,355,000
Trade receivables — net of allowance for uncollectible accounts — 2015 — $1,030 and 2014 — $893	70,499,000	72,717,000
Employee receivables	174,000	173,000
Other receivables	5,799,000	7,507,000
Inventories	88,256,000	91,773,000
Prepaid expenses	4,999,000	5,012,000
Prepaid income taxes	1,221,000	1,273,000
Deferred income tax assets	6,369,000	6,375,000
Income tax refund receivables	685,000	155,000
Total current assets	187,910,000	192,340,000
PROPERTY AND EQUIPMENT:
Land and land improvements	16,645,000	16,830,000
Buildings	129,486,000	130,447,000
Manufacturing equipment	147,837,000	145,022,000
Furniture and fixtures	35,761,000	35,201,000
Leasehold improvements	16,048,000	16,096,000
Construction-in-progress	25,341,000	21,858,000
Total property and equipment	371,118,000	365,454,000
Less accumulated depreciation	-125,963,000	-121,283,000
Property and equipment — net	245,155,000	244,171,000
OTHER ASSETS:
Goodwill	184,405,000	184,464,000
Deferred income tax assets	9,000	9,000
Other assets	15,654,000	15,873,000
Total other assets	306,959,000	310,654,000
TOTAL	740,024,000	747,165,000
CURRENT LIABILITIES:
Trade payables	24,525,000	29,810,000
Accrued expenses	34,502,000	33,826,000
Current portion of long-term debt	10,000,000	10,000,000
Advances from employees	761,000	381,000
Income taxes payable	1,953,000	1,413,000
Total current liabilities	71,741,000	75,430,000
LONG-TERM DEBT	202,878,000	214,490,000
DEFERRED INCOME TAX LIABILITIES	6,082,000	6,385,000
LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS	1,353,000	1,353,000
DEFERRED COMPENSATION PAYABLE	9,108,000	8,635,000
DEFERRED CREDITS	2,849,000	2,891,000
OTHER LONG-TERM OBLIGATIONS	3,313,000	2,722,000
Total liabilities	297,324,000	311,906,000
COMMITMENTS AND CONTINGENCIES (Notes 5, 9, 10 and 13)
STOCKHOLDERS’ EQUITY:
Preferred stock — 5,000 shares authorized as of March 31, 2015 and December 31, 2014; no shares issued	0	0
Common stock, no par value; 100,000 shares authorized; 44,003 and 43,614 issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	192,730,000	187,709,000
Retained earnings	255,136,000	249,962,000
Accumulated other comprehensive loss	-5,166,000	-2,412,000
Total stockholders’ equity	442,700,000	435,259,000
TOTAL	740,024,000	747,165,000
Developed technology — net of accumulated amortization — 2015 — $30,454 and 2014 — $27,982
OTHER ASSETS:
Intangible Assets	76,237,000	79,172,000
Other — net of accumulated amortization — 2015 — $23,454 and 2014 — $22,480
OTHER ASSETS:
Intangible Assets	$30,654,000	$31,136,000

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
CURRENT ASSETS:
Trade receivables, allowances	$1,030	$893
STOCKHOLDERS’ EQUITY:
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	44,003,000	43,614,000
Other
OTHER ASSETS:
Intangibles, accumulated amortization	23,454	22,480
Developed technology
OTHER ASSETS:
Intangibles, accumulated amortization	$30,454	$27,982

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
NET SALES	$129,577	$119,236
COST OF SALES	74,194	67,193
GROSS PROFIT	55,383	52,043
OPERATING EXPENSES:
Selling, general, and administrative	36,885	36,763
Research and development	9,672	8,780
Contingent consideration expense	122	11
Total operating expenses	46,679	45,554
INCOME FROM OPERATIONS	8,704	6,489
OTHER INCOME (EXPENSE):
Interest income	53	67
Interest expense	-1,574	-2,606
Other income (expense) — net	280	-64
Other (expense) — net	-1,241	-2,603
INCOME BEFORE INCOME TAXES	7,463	3,886
INCOME TAX EXPENSE	2,289	1,063
NET INCOME	$5,174	$2,823
EARNINGS PER COMMON SHARE:
Basic (in dollars per share)	$0.12	$0.07
Diluted (in dollars per share)	$0.12	$0.07
AVERAGE COMMON SHARES:
Basic (in shares)	43,703	42,865
Diluted (in shares)	44,145	43,234

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$5,174	$2,823
Other comprehensive income (loss):
Interest rate swap	-898	-77
Less income tax benefit	349	30
Foreign currency translation adjustment	-2,311	108
Less income tax benefit (expense)	106	-52
Total other comprehensive income (loss)	-2,754	9
Total comprehensive income	$2,420	$2,832

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$5,174	$2,823
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,068	8,702
Losses on sales and/or abandonment of property and equipment	37	91
Write-off of patents and intangible assets	14	34
Amortization of deferred credits	-43	-45
Amortization of long-term debt issuance costs	247	247
Deferred income taxes	462	21
Excess tax benefits from stock-based compensation	-860	-168
Stock-based compensation expense	520	339
Changes in operating assets and liabilities, net of effects from acquisitions:
Trade receivables	-2,334	-4,115
Employee receivables	-6	35
Other receivables	-735	439
Inventories	3,518	-2,352
Prepaid expenses	-160	-651
Prepaid income taxes	52	0
Income tax refund receivables	-539	192
Other assets	-602	-847
Trade payables	84	-485
Accrued expenses	2,653	2,868
Advances from employees	439	509
Income taxes payable	1,377	91
Liabilities related to unrecognized tax benefits	0	0
Deferred compensation payable	473	282
Other long-term obligations	433	-50
Total adjustments	14,098	5,137
Net cash provided by operating activities	19,272	7,960
Capital expenditures for:
Property and equipment	-9,492	-8,708
Intangible assets	-495	-433
Proceeds from sale-leaseback transactions	1,823	0
Proceeds from the sale of property and equipment	3	18
Cash paid in acquisitions, net of cash acquired	-1,250	0
Net cash used in investing activities	-9,411	-9,123
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	4,021	803
Proceeds from issuance of long-term debt	31,803	36,010
Payments on long-term debt	-43,415	-30,423
Excess tax benefits from stock-based compensation	860	168
Contingent payments related to acquisitions	-166	-24
Payment of taxes related to an exchange of common stock	-380	-220
Net cash provided by (used in) financing activities	-7,277	6,314
EFFECT OF EXCHANGE RATES ON CASH	-31	-19
NET INCREASE IN CASH AND CASH EQUIVALENTS	2,553	5,132
CASH AND CASH EQUIVALENTS:
Beginning of period	7,355	7,459
End of period	9,908	12,591
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest (net of capitalized interest of $83 and $126, respectively)	1,254	2,644
Income taxes	931	782
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Property and equipment purchases in accounts payable	1,743	5,180
Merit common stock surrendered (89 and 108 shares, respectively) in exchange for exercise of stock options	$1,725	$1,641

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net capitalized interest	$83	$126
Common Stock
Company's common stock surrendered in exchange for the exercise of stock options (in shares)	89	108

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. The interim consolidated financial statements of Merit Medical Systems, Inc. ("Merit," "we" or "us") for the three months ended March 31, 2015 and 2014 are not audited. Our consolidated financial statements are prepared in accordance with the requirements for unaudited interim periods, and consequently, do not include all disclosures required to be made in conformity with accounting principles generally accepted in the United States of America. In the opinion of our management, the accompanying consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of our financial position as of March 31, 2015 and our results of operations and cash flows for the three-month periods ended March 31, 2015 and 2014. The results of operations for the three-month period ended March 31, 2015 are not necessarily indicative of the results for a full-year period. These interim consolidated financial statements should be read in conjunction with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission (the "SEC").

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories. Inventories at March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
		March 31, 2015		December 31, 2014
	Finished goods	$	43,622	$	50,000
	Work-in-process	12,666		7,680
	Raw materials	31,968		34,093
	Total	$	88,256	$	91,773

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-Based Compensation. Stock-based compensation expense before income tax expense for the three-month periods ended March 31, 2015 and 2014, consisted of the following (in thousands):
		2015		2014
	Cost of goods sold	$	93	$	43
	Research and development	27		16
	Selling, general, and administrative	400		280
	Stock-based compensation expense before taxes	$	520	$	339
	As of March 31, 2015, the total remaining unrecognized compensation cost related to non-vested stock options, net of expected forfeitures, was approximately $6.7 million and is expected to be recognized over a weighted average period of 3.7 years.
	During the three months ended March 31, 2015, we granted awards representing 446,800 shares of our common stock. We did not grant any stock-based awards during the three months ended March 31, 2014. We use the Black-Scholes methodology to value the stock-based compensation expense for options. In applying the Black-Scholes methodology to the options granted during the three months ended March 31, 2015, the fair value of our stock-based awards granted was estimated using the following assumptions for the periods indicated below:
		Three Months Ended
		31-Mar-15
	Risk-free interest rate	1.53%
	Expected option life	5
	Expected dividend yield	—%
	Expected price volatility	35.11%
	For purposes of the foregoing analysis, the average risk-free interest rate is determined using the U.S. Treasury rate in effect as of the date of grant, based on the expected term of the stock option. The expected term of the stock options is determined using the historical exercise behavior of employees. The expected price volatility is determined using a weighted average of daily historical volatility of our stock price over the corresponding expected option life and implied volatility based on recent trends of the daily historical volatility. Compensation expense is recognized on a straight-line basis over the service period, which corresponds to the related vesting period.

Earnings_Per_Common_Share_EPS

Earnings Per Common Share (EPS)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share, Basic and Diluted [Abstract]
Earnings Per Common Share (EPS)	Earnings Per Common Share (EPS). The computation of weighted average shares outstanding and the basic and diluted earnings per common share for the following periods consisted of the following (in thousands, except per share amounts):
		Net		Shares	Per Share
		Income			Amount
	Period ended March 31, 2015:
	Basic EPS	$	5,174	43,703	$	0.12
	Effect of dilutive stock options and warrants			442
	Diluted EPS	$	5,174	44,145	$	0.12
	Stock options excluded from the calculation of common stock equivalents as the impact was anti-dilutive			383
	Period ended March 31, 2014:
	Basic EPS	$	2,823	42,865	$	0.07
	Effect of dilutive stock options and warrants			369
	Diluted EPS	$	2,823	43,234	$	0.07
	Stock options excluded from the calculation of common stock equivalents as the impact was anti-dilutive			362

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions. On January 6, 2015, we amended a distribution and patent sublicense agreement with Catheter Connections, Inc. ("CathConn"), a Utah corporation, which we had originally entered into on August 21, 2012 for CathConn's MaleCap Solo technology. The amendment provides exclusive rights for other aspects of CathConn's DualCap disinfecting cap technology. We paid CathConn an additional $250,000 in January 2015. The purchase price was allocated to a distribution agreement for $250,000, which we intend to amortize over 10 years.
	On August 8, 2014, we entered into a license agreement and a distribution agreement with a medical device company for the right to manufacture and sell certain percutaneous transluminal angioplasty balloon catheter products. As of December 31, 2014, we had paid $3.0 million and recorded an additional $1.0 million obligation to accrued liabilities in connection with these two agreements. During the quarter ended March 31, 2015, we paid the $1.0 million that was accrued as of December 31, 2014. We are obligated to pay an additional $3.0 million to the licensor if certain milestones set forth in the license agreement are reached. We accounted for the transaction as an asset purchase. Of the purchase price paid as of March 31, 2015, $200,000 was allocated to a distribution agreement asset, which we are amortizing over a period of 3 years, and $3.8 million was allocated to a license agreement asset, which we intend to amortize over a period of 12 years.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting. We report our operations in two operating segments: cardiovascular and endoscopy. Our cardiovascular segment consists of cardiology and radiology medical device products which assist in diagnosing and treating coronary artery disease, peripheral vascular disease and other non-vascular diseases and includes embolization devices and CRM/EP devices. Our endoscopy segment consists of gastroenterology and pulmonology medical device products which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors. We evaluate the performance of our operating segments based on operating income (loss). Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the three-month periods ended March 31, 2015 and 2014, are as follows (in thousands):
		2015		2014
	Revenues
	Cardiovascular	$	124,764	$	114,907
	Endoscopy	4,813		4,329
	Total revenues	129,577		119,236
	Operating income
	Cardiovascular	8,069		6,396
	Endoscopy	635		93
	Total operating income	8,704		6,489

RECENT_ACCOUNTING_PRONOUCEMENT

RECENT ACCOUNTING PRONOUCEMENTS (Notes)	3 Months Ended
	Mar. 31, 2015
Recent Accounting Pronouncements [Abstract]
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 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. The standard is effective for our financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The adoption of this standard is not expected to have a material impact on our financial statements.
	In August 2014, the FASB issued ASU 2014-15, which requires management to assess, at each annual and interim reporting period, the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and provide related disclosures. The guidance is effective for the year ending December 31, 2016, with early adoption permitted. We have assessed the anticipated impact of this standard on our consolidated financial statements and disclosures and do not believe that it will have a material impact upon adoption.
	In May 2014, the FASB issued authoritative guidance amending the FASB Accounting Standards Codification and creating a new Topic 606, Revenue from Contracts with Customers. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP applicable to revenue transactions. This guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The existing industry guidance will be eliminated when the new guidance becomes effective and annual disclosures will be substantially revised. The standard is effective for the Company’s first quarter of 2017. Early adoption is not permitted. Implementation may be either through retrospective application to each period from the first quarter of 2015 or with a cumulative effect adjustment upon adoption in 2017. Additional disclosures will also be required under the new standard. In April 2015, the FASB issued a proposal that, if approved, would extend the required implementation date one year to the first quarter of 2018 but also would permit companies to adopt the standard at the original effective date of 2017. We are assessing the impact this new standard will have on our consolidated financial statements and disclosures.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes. Our overall effective tax rate for the three months ended March 31, 2015 and 2014 was 30.7% and 27.4%, respectively, which resulted in a provision for income taxes of $2.3 million and $1.1 million, respectively. The increase in the effective income tax rate for the first quarter of 2015, when compared to the first quarter of 2014, was due primarily to the increased profit of our U.S. operations, which are generally taxed at a higher rate than our foreign operations.

Longterm_Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-term Debt. We entered into an Amended and Restated Credit Agreement, dated December 19, 2012, with the lenders who are or may become party thereto (collectively, the "Lenders") and Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent for the Lenders, which was amended on October 4, 2013 by a First Amendment to the Amended and Restated Credit Agreement by and among Merit, certain subsidiaries of Merit, the Lenders and Wells Fargo as administrative agent for the Lenders (as amended, the "Credit Agreement"). Pursuant to the terms of the Credit Agreement, the Lenders have agreed to make revolving credit loans up to an aggregate amount of $215 million. The Lenders also made a term loan in the amount of $100 million, repayable in quarterly installments in the amounts provided in the Credit Agreement until the maturity date of December 19, 2017, at which time the term and revolving credit loans, together with accrued interest thereon, will be due and payable. In addition, certain mandatory prepayments are required to be made upon the occurrence of certain events described in the Credit Agreement. Wells Fargo has agreed, upon satisfaction of certain conditions, to make swingline loans from time to time through the maturity date in amounts equal to the difference between the amounts actually loaned by the Lenders and the aggregate revolving credit commitment. The Credit Agreement is collateralized by substantially all of our assets. At any time prior to the maturity date, we may repay any amounts owing under all revolving credit loans, term loans, and all swingline loans in whole or in part, subject to certain minimum thresholds, without premium or penalty, other than breakage costs.
	The term loan and any revolving credit loans made under the Credit Agreement bear interest, at our election, at either (i) the base rate (described below) plus 0.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1), (ii) the London Inter-Bank Offered Rate (“LIBOR”) Market Index Rate (as defined in the Credit Agreement) plus 1.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1), or (iii) the LIBOR Rate (as defined in the Credit Agreement) plus 1.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1). Initially, the term loan and revolving credit loans under the Credit Agreement bear interest, at our election, at either (x) the base rate plus 1.00%, (y) the LIBOR Market Index Rate, plus 2.00%, or (z) the LIBOR Rate plus 2.00%. Swingline loans bear interest at the LIBOR Market Index Rate plus 1.25% (subject to adjustment if the Consolidated Total Leverage Ratio, as defined in the Credit Agreement, is at or greater than 2.25 to 1). Initially, swingline loans bear interest at the LIBOR Market Index Rate plus 2.00%. Interest on each loan featuring the base rate or the LIBOR Market Index Rate is due and payable on the last business day of each calendar month; interest on each loan featuring the LIBOR Rate is due and payable on the last day of each interest period selected by us when selecting the LIBOR Rate as the benchmark for interest calculation. For purposes of the Credit Agreement, the base rate means the highest of (i) the prime rate (as announced by Wells Fargo), (ii) the federal funds rate plus 0.50%, and (iii) LIBOR for an interest period of one month plus 1.00%. Our obligations under the Credit Agreement and all loans made thereunder are fully secured by a security interest in our assets pursuant to a separate collateral agreement entered into in conjunction with the Credit Agreement.
	The Credit Agreement contains covenants, representations and warranties and other terms customary for revolving credit loans of this nature. In this regard, the Credit Agreement requires us to not, among other things, (a) permit the Consolidated Total Leverage Ratio (as defined in the Credit Agreement) to be greater than 4.75 to 1 through the end of 2013, no more than 4.00 to 1 as of the fiscal quarter ending March 31, 2014, no more than 3.75 to 1 as of the fiscal quarter ending June 30, 2014, no more than 3.50 to 1 as of the fiscal quarter ending September 30, 2014, no more than 3.25 to 1 as of the fiscal quarter ending December 31, 2014, no more than 3.00 to 1 as of any fiscal quarter ending during 2015, no more than 2.75 to 1 as of any fiscal quarter ending during 2016, and no more than 2.50 to 1 as of any fiscal quarter ending thereafter; (b) for any period of four consecutive fiscal quarters, permit the ratio of Consolidated EBITDA (as defined in the Credit Agreement and subject to certain adjustments) to Consolidated Fixed Charges (as defined in the Credit Agreement) to be less than 1.75 to 1; (c) subject to certain adjustments, permit Consolidated Net Income (as defined in the Credit Agreement) for certain periods to be less than $0; or (d) subject to certain conditions and adjustments, permit the aggregate amount of all Facility Capital Expenditures (as defined in the Credit Agreement) in any fiscal year beginning in 2013 to exceed $30 million. Additionally, the Credit Agreement contains various negative covenants with which we must comply, including, but not limited to, limitations respecting: the incurrence of indebtedness, the creation of liens or pledges on our assets, mergers or similar combinations or liquidations, asset dispositions, the repurchase or redemption of equity interests or debt, the issuance of equity, the payment of dividends and certain distributions, the entry into related party transactions and other provisions customary in similar types of agreements. As of March 31, 2015, we were in compliance with all covenants set forth in the Credit Agreement.
	We had originally entered into an unsecured credit agreement, dated September 30, 2010, with certain lenders who were or became party thereto and Wells Fargo, as administrative agent for the lenders. Pursuant to the terms of that credit agreement, the lenders agreed to make revolving credit loans up to an aggregate amount of $175 million. Wells Fargo also agreed to make swingline loans from time to time through the maturity date of September 10, 2015 in amounts equal to the difference between the amount actually loaned by the lenders and the aggregate credit agreement. The unsecured credit agreement was amended and restated as of December 19, 2012, as the Credit Agreement.
	In summary, principal balances under our long-term debt as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
		2015			2014
	Term loan	$	72,656		$	82,500
	Revolving credit loans	140,222			141,990
	Total long-term debt	212,878			224,490
	Less current portion	10,000			10,000
	Long-term portion	$	202,878		$	214,490
	Future minimum principal payments on our long-term debt as of March 31, 2015, are as follows (in thousands):
	Years Ending		Future Minimum
	December 31		Principal Payments
	2015		$	7,500
	2016		10,000
	2017		195,378
	Total future minimum principal payments		$	212,878
	As of March 31, 2015, we had outstanding borrowings of approximately $212.9 million under the Credit Agreement, with available borrowings of approximately $31.2 million, based on the leverage ratio in the terms of the Credit Agreement. Our interest rate as of March 31, 2015 was a fixed rate of 2.98% on $138.8 million as a result of an interest rate swap (see Note 10), a variable floating rate of 2.18% on $74.0 million and a variable floating rate of 2.27% on approximately $62,000. Our interest rate as of December 31, 2014 was a fixed rate of 2.98% on $140.0 million as a result of an interest rate swap, variable floating rate of 2.17% on $84.3 million and a variable floating rate of 2.26% on approximately $174,000.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Interest Rate Swap. On December 19, 2012, we entered into a pay-fixed, receive-variable interest rate swap having an initial notional amount of $150 million with Wells Fargo to fix the one-month LIBOR rate at 0.98%. The variable portion of the interest rate swap is tied to the one-month LIBOR rate (the benchmark interest rate). The interest rates under both the interest rate swap and the underlying debt reset, the swap is settled with the counterparty, and interest is paid, on a monthly basis. The notional amount of the interest rate swap is reduced quarterly by 50% of the minimum principal payment due under the terms of the Credit Agreement. The interest rate swap is scheduled to expire on December 19, 2017.
	At March 31, 2015, our interest rate swap qualified as a cash flow hedge. The fair value of our interest rate swap at March 31, 2015 was a liability of approximately $325,000, which was offset by approximately $126,000 in deferred taxes. The fair value of our interest rate swap at December 31, 2014 was an asset of approximately $573,000, which was offset by approximately $223,000 in deferred taxes.
	During the three months ended March 31, 2015 and 2014, the amounts reclassified from accumulated other comprehensive income to earnings due to hedge effectiveness were included in interest expense in the accompanying consolidated statements of income and were not material.
	Foreign Currency Forward Contracts. On February 27, 2015, we forecasted a net exposure for March 31, 2015 (representing the difference between Euro and GBP-denominated receivables and Euro-denominated payables) of approximately 309,000 Euros and 257,000 GBPs. In order to partially offset such risks, on February 27, 2015, we entered into a 30-day forward contract for the Euro and GBP with a notional amount of approximately 309,000 Euros and notional amount of 257,000 GBPs.
	We enter into similar transactions at various times during the year to partially offset exchange rate risks we bear throughout the year. These contracts are marked to market at the end of each month. The effect on our consolidated statements of income for the three months ended March 31, 2015 and 2014 of all forward contracts, and the fair value of our open positions at March 31, 2015, were not material.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
							Fair Value Measurements Using
			Total Fair				Quoted prices in			Significant other			Significant
			Value at				active markets			observable inputs			Unobservable inputs
	Description		31-Mar-15				(Level 1)			(Level 2)			(Level 3)
	Interest rate swap (1)		$	(325	)		$	—		$	(325	)	$	—
							Fair Value Measurements Using
			Total Fair				Quoted prices in			Significant other			Significant
			Value at				active markets			observable inputs			Unobservable inputs
	Description		31-Dec-14				(Level 1)			(Level 2)			(Level 3)
	Interest rate swap (1)		$	573			$	—		$	573		$	—
	(1)    The fair value of the interest rate swap is determined based on forward yield curves.
	Certain of our business combinations involve the potential for the payment of future contingent consideration, generally based on a percentage of future product sales or upon attaining specified future revenue milestones. The contingent consideration liability is re-measured at the estimated fair value at each reporting period with the change in fair value recognized within operating expenses in the accompanying consolidated statements of income. We measure the initial liability and re-measure the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements. Changes in the fair value of our contingent consideration liability during the three months ended March 31, 2015 and 2014, consisted of the following (in thousands):
		Three Months Ended				Three Months Ended
		March 31,				March 31,
		2015				2014
	Beginning balance	$	1,886			$	2,526
	Fair value adjustments recorded to income during the period	122				11
	Contingent payments made	(166		)		(24		)
	Ending balance	$	1,842			$	2,513
	The recurring Level 3 measurement of our contingent consideration liability includes the following significant unobservable inputs at March 31, 2015 (amount in thousands):
	Contingent consideration liability		Fair value at March 31, 2015				Valuation technique		Unobservable inputs	Range
	Revenue-based payments		$	1,697			Discounted cash flow		Discount rate	1% - 14%
									Probability of milestone payment	90%
									Projected year of payments	2015-2028
	Other payments		$	145			Discounted cash flow		Discount rate	5%
									Probability of milestone payment	100%
									Projected year of payments	2015-2016
	The contingent consideration liability is re-measured to fair value each reporting period using projected revenues, discount rates, probabilities of payment, and projected payment dates. Projected contingent payment amounts are discounted back to the current period using a discounted cash flow model. Projected revenues are based on our most recent internal operational budgets and long-range strategic plans. Increases (decreases) in discount rates and the time to payment may result in lower (higher) fair value measurements. A decrease in the probability of any milestone payment may result in lower fair value measurements. An increase (decrease) in either the discount rate or the time to payment, in isolation, may result in a significantly lower (higher) fair value measurement.
	Our determination of the fair value of the contingent consideration liability could change in future periods based upon our ongoing evaluation of these significant unobservable inputs. We intend to record any such change in fair value to operating expenses in our consolidated statements of income. As of March 31, 2015, approximately $740,000 was included in other long-term obligations and $1.1 million was included in accrued expenses in our consolidated balance sheet. As of December 31, 2014, approximately $803,000 was included in other long-term obligations and $1.1 million was included in accrued expenses in our consolidated balance sheet. The cash paid to settle the contingent consideration liability recognized at fair value as of the acquisition date (including measurement-period adjustments) has been reflected as a cash outflow from financing activities in the accompanying consolidated statements of cash flows.
	During the three-month periods ended March 31, 2015 and 2014, we had losses of approximately $14,000 and $34,000, respectively, related to the measurement of non-financial assets at fair value on a nonrecurring basis subsequent to their initial recognition.
	The carrying amount of cash and cash equivalents, receivables, and trade payables approximates fair value because of the immediate, short-term maturity of these financial instruments. The carrying amount of long-term debt approximates fair value, as determined by borrowing rates estimated to be available to us for debt with similar terms and conditions. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash and cash equivalents (Level 1).

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	The changes in the carrying amount of goodwill for the three months ended March 31, 2015 are as follows (in thousands):
		2015
	Goodwill balance at January 1	184,464
	Effect of foreign exchange	(59		)
	Goodwill balance at March 31	$	184,405
	There were no changes in the carrying amount of goodwill for the three months ended March 31, 2014.
	As of March 31, 2015, we had recorded $8.3 million of accumulated goodwill impairment charges. All of the goodwill balance as of March 31, 2015 and December 31, 2014 related to our cardiovascular segment.
	Other intangible assets at March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
		March 31, 2015
		Gross Carrying			Accumulated			Net Carrying
		Amount			Amortization			Amount
	Patents	$	10,680		$	(2,282	)	$	8,398
	Distribution agreements	5,626			(2,421		)	3,205
	License agreements	8,869			(1,981		)	6,888
	Trademarks	7,253			(2,188		)	5,065
	Covenants not to compete	1,029			(696		)	333
	Customer lists	20,384			(13,619		)	6,765
	Royalty agreements	267			(267		)	—
	Total	$	54,108		$	(23,454	)	$	30,654
		December 31, 2014
		Gross Carrying			Accumulated			Net Carrying
		Amount			Amortization			Amount
	Patents	$	10,199		$	(2,196	)	$	8,003
	Distribution agreements	5,376			(2,285		)	3,091
	License agreements	8,995			(1,823		)	7,172
	Trademarks	7,298			(2,079		)	5,219
	Covenants not to compete	1,029			(636		)	393
	Customer lists	20,452			(13,194		)	7,258
	Royalty agreements	267			(267		)	—
	Total	$	53,616		$	(22,480	)	$	31,136
	Aggregate amortization expense for the three-month periods ended March 31, 2015 and 2014 was approximately $3.6 million and $3.7 million, respectively.
	Estimated amortization expense for the developed technology and other intangible assets for the next five years consists of the following as of March 31, 2015 (in thousands):
	Year Ending December 31
	Remaining 2015	$	11,101
	2016	14,279
	2017	13,723
	2018	13,147
	2019	12,864

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	In the ordinary course of business, we are involved in various claims and litigation matters. These claims and litigation matters may include actions involving product liability, intellectual property, contractual, and employment matters. We do not believe that any such actions are likely to be, individually or in the aggregate, material to our business, financial condition, results of operations or liquidity. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to our business, financial condition, results of operations or liquidity. Legal costs for these matters such as outside counsel fees and expenses are charged to expense in the period incurred.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
		March 31, 2015		December 31, 2014
	Finished goods	$	43,622	$	50,000
	Work-in-process	12,666		7,680
	Raw materials	31,968		34,093
	Total	$	88,256	$	91,773

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Stock-based compensation expense before income tax expense for the three-month periods ended March 31, 2015 and 2014, consisted of the following (in thousands):
		2015		2014
	Cost of goods sold	$	93	$	43
	Research and development	27		16
	Selling, general, and administrative	400		280
	Stock-based compensation expense before taxes	$	520	$	339
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	In applying the Black-Scholes methodology to the options granted during the three months ended March 31, 2015, the fair value of our stock-based awards granted was estimated using the following assumptions for the periods indicated below:
		Three Months Ended
		31-Mar-15
	Risk-free interest rate	1.53%
	Expected option life	5
	Expected dividend yield	—%
	Expected price volatility	35.11%

Earnings_Per_Common_Share_EPS_

Earnings Per Common Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share, Basic and Diluted [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The computation of weighted average shares outstanding and the basic and diluted earnings per common share for the following periods consisted of the following (in thousands, except per share amounts):
		Net		Shares	Per Share
		Income			Amount
	Period ended March 31, 2015:
	Basic EPS	$	5,174	43,703	$	0.12
	Effect of dilutive stock options and warrants			442
	Diluted EPS	$	5,174	44,145	$	0.12
	Stock options excluded from the calculation of common stock equivalents as the impact was anti-dilutive			383
	Period ended March 31, 2014:
	Basic EPS	$	2,823	42,865	$	0.07
	Effect of dilutive stock options and warrants			369
	Diluted EPS	$	2,823	43,234	$	0.07
	Stock options excluded from the calculation of common stock equivalents as the impact was anti-dilutive			362

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information relating to our reportable operating segments and reconciliations to the consolidated totals for the three-month periods ended March 31, 2015 and 2014, are as follows (in thousands):
		2015		2014
	Revenues
	Cardiovascular	$	124,764	$	114,907
	Endoscopy	4,813		4,329
	Total revenues	129,577		119,236
	Operating income
	Cardiovascular	8,069		6,396
	Endoscopy	635		93
	Total operating income	8,704		6,489

Longterm_Debt_Tables

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	In summary, principal balances under our long-term debt as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
		2015			2014
	Term loan	$	72,656		$	82,500
	Revolving credit loans	140,222			141,990
	Total long-term debt	212,878			224,490
	Less current portion	10,000			10,000
	Long-term portion	$	202,878		$	214,490
Schedule of Maturities of Long-term Debt	Future minimum principal payments on our long-term debt as of March 31, 2015, are as follows (in thousands):
	Years Ending		Future Minimum
	December 31		Principal Payments
	2015		$	7,500
	2016		10,000
	2017		195,378
	Total future minimum principal payments		$	212,878

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
							Fair Value Measurements Using
			Total Fair				Quoted prices in			Significant other			Significant
			Value at				active markets			observable inputs			Unobservable inputs
	Description		31-Mar-15				(Level 1)			(Level 2)			(Level 3)
	Interest rate swap (1)		$	(325	)		$	—		$	(325	)	$	—
							Fair Value Measurements Using
			Total Fair				Quoted prices in			Significant other			Significant
			Value at				active markets			observable inputs			Unobservable inputs
	Description		31-Dec-14				(Level 1)			(Level 2)			(Level 3)
	Interest rate swap (1)		$	573			$	—		$	573		$	—
	(1)    The fair value of the interest rate swap is determined based on forward yield curves.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	Changes in the fair value of our contingent consideration liability during the three months ended March 31, 2015 and 2014, consisted of the following (in thousands):
		Three Months Ended				Three Months Ended
		March 31,				March 31,
		2015				2014
	Beginning balance	$	1,886			$	2,526
	Fair value adjustments recorded to income during the period	122				11
	Contingent payments made	(166		)		(24		)
	Ending balance	$	1,842			$	2,513
Fair Value Inputs, Liabilities, Quantitative Information	The recurring Level 3 measurement of our contingent consideration liability includes the following significant unobservable inputs at March 31, 2015 (amount in thousands):
	Contingent consideration liability		Fair value at March 31, 2015				Valuation technique		Unobservable inputs	Range
	Revenue-based payments		$	1,697			Discounted cash flow		Discount rate	1% - 14%
									Probability of milestone payment	90%
									Projected year of payments	2015-2028
	Other payments		$	145			Discounted cash flow		Discount rate	5%
									Probability of milestone payment	100%
									Projected year of payments	2015-2016

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in carrying amount of goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2015 are as follows (in thousands):
		2015
	Goodwill balance at January 1	184,464
	Effect of foreign exchange	(59		)
	Goodwill balance at March 31	$	184,405
Other intangible assets	Other intangible assets at March 31, 2015 and December 31, 2014, consisted of the following (in thousands):
		March 31, 2015
		Gross Carrying			Accumulated			Net Carrying
		Amount			Amortization			Amount
	Patents	$	10,680		$	(2,282	)	$	8,398
	Distribution agreements	5,626			(2,421		)	3,205
	License agreements	8,869			(1,981		)	6,888
	Trademarks	7,253			(2,188		)	5,065
	Covenants not to compete	1,029			(696		)	333
	Customer lists	20,384			(13,619		)	6,765
	Royalty agreements	267			(267		)	—
	Total	$	54,108		$	(23,454	)	$	30,654
		December 31, 2014
		Gross Carrying			Accumulated			Net Carrying
		Amount			Amortization			Amount
	Patents	$	10,199		$	(2,196	)	$	8,003
	Distribution agreements	5,376			(2,285		)	3,091
	License agreements	8,995			(1,823		)	7,172
	Trademarks	7,298			(2,079		)	5,219
	Covenants not to compete	1,029			(636		)	393
	Customer lists	20,452			(13,194		)	7,258
	Royalty agreements	267			(267		)	—
	Total	$	53,616		$	(22,480	)	$	31,136
Estimated amortization expense	Estimated amortization expense for the developed technology and other intangible assets for the next five years consists of the following as of March 31, 2015 (in thousands):
	Year Ending December 31
	Remaining 2015	$	11,101
	2016	14,279
	2017	13,723
	2018	13,147
	2019	12,864

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Finished goods	$43,622	$50,000
Work-in-process	12,666	7,680
Raw materials	31,968	34,093
Total	$88,256	$91,773

Stockbased_Compensation_Alloca

Stock-based Compensation - Allocation of Recognized Period Costs (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$520,000	$339,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	6,700,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	3 years 8 months 26 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	446,800
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	93,000	43,000
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	27,000	16,000
Selling, general, and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$400,000	$280,000

Stockbased_Compensation_Fair_V

Stock-based Compensation - Fair Value Calculation Assumptions (Details)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	1.53%
Expected option life	5 years 0 months 0 days
Expected dividend yield	0.00%
Expected price volatility	35.11%

Earnings_Per_Common_Share_EPS_1

Earnings Per Common Share (EPS) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share, Basic and Diluted [Abstract]
Net Income, Basic EPS	$5,174	$2,823
Shares, Basic EPS	43,703	42,865
Basic (in dollars per share)	$0.12	$0.07
Effect of dilutive stock options and warrants	442	369
Net Income, Diluted EPS	$5,174	$2,823
Shares, Diluted EPS	44,145	43,234
Diluted (in dollars per share)	$0.12	$0.07
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	383	362

Acquisitions_Narrative_Details

Acquisitions - Narrative (Details) (USD $)	3 Months Ended		5 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Aug. 08, 2014
Business Acquisition [Line Items]
Payments to acquire intangible assets	$495,000	$433,000	$3,000,000
Liabilities incurred in agreement			1,000,000
Contingent consideration, liability				3,000,000
Payments to acquire businesses, net of cash acquired	1,250,000	0
License agreements and trademarks
Business Acquisition [Line Items]
Intangible assets purchased	6,888,000		7,172,000
Useful life				12 years
Distribution agreements
Business Acquisition [Line Items]
Intangible assets purchased	3,205,000		3,091,000
Useful life				3 years
Intangible assets				200,000
Developed technology
Business Acquisition [Line Items]
Intangible assets purchased	76,237,000		79,172,000
Intangible assets				3,800,000
Catheter Connections, Inc. [Member] | Distribution agreements
Business Acquisition [Line Items]
Payments to acquire intangible assets	250,000
Intangible assets purchased	$250,000
Useful life	10 years

Segment_Reporting_Narrative_De

Segment Reporting - Narrative (Details)	3 Months Ended
	Mar. 31, 2015
	segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment_Reporting_Operating_In

Segment Reporting - Operating Income (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$129,577	$119,236
Operating income	8,704	6,489
Cardiovascular Segment
Segment Reporting Information [Line Items]
Revenues	124,764	114,907
Operating income	8,069	6,396
Endoscopy Segment
Segment Reporting Information [Line Items]
Revenues	4,813	4,329
Operating income	$635	$93

Income_Taxes_Narrative_Details

Income Taxes - Narrative (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	30.70%	27.40%
Income tax expense	$2,289	$1,063

Longterm_Debt_Narrative_Detail

Long-term Debt - Narrative (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Dec. 19, 2012	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Oct. 04, 2013	Sep. 30, 2010
			quarter
Credit Agreement
Line of Credit Facility [Line Items]
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Current Quarter, Maximum							4.75
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter One, Maximum						4
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter Two, Maximum					3.75
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter Three, Maximum				3.5
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Quarter Four, Maximum			3.25
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Year Two, Maximum	3
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Year Three, Maximum	2.75
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Year Four, Maximum	2.5
Line of Credit Facility, Covenant Terms, Consolidated EBITDA to Fixed Charges Ratio, Number of Consecutive Quarters			4
Line of Credit Facility, Covenant Terms, Consolidated EBITDA to Fixed Charges Ratio, Minimum	1.75
Line of Credit Facility, Covenant Terms, Consolidated Net Income, Maximum	$0
Line of Credit Facility, Covenant Terms, Facility Capital Expenditures, Next Twelve Months, Maximum	30,000,000
Line of Credit Facility, Amount Outstanding	212,900,000
Line of Credit Facility, Remaining Borrowing Capacity	31,200,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	2.98%		2.98%
Long-term Debt, Percentage Bearing Fixed Interest, Amount	138,800,000		140,000,000
Base Rate | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.25%	1.00%
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Minimum	2.25
London Interbank Offered Rate (LIBOR) Market Index Rate | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%	2.00%
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Minimum	2.25
London Interbank Offered Rate (LIBOR) | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%	2.00%
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Minimum	2.25
Debt Instrument, Basis Spread on Base Rate	0.01
Federal Funds Rate | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Base Rate	0.005
Variable Rate 1 | Credit Agreement
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	2.18%		2.17%
Long-term Debt, Percentage Bearing Variable Interest, Amount	74,000,000		84,300,000
Variable Rate 2 | Credit Agreement
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	2.27%		2.26%
Long-term Debt, Percentage Bearing Variable Interest, Amount	62,000		174,000
Revolving Credit Facility | Credit Agreement
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								215,000,000
Revolving Credit Facility | Wells Fargo
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity									175,000,000
Term Loan | Credit Agreement
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		100,000,000
Bridge Loan | Base Rate | Credit Agreement
Line of Credit Facility [Line Items]
Line of Credit Facility, Covenant Terms, Consolidated Total Leverage Ratio, Minimum	2.25
Bridge Loan | London Interbank Offered Rate (LIBOR) Market Index Rate | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%	2.00%

Longterm_Debt_Principal_Balanc

Long-term Debt - Principal Balances under Long-term Debt (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Line of Credit Facility [Line Items]
Total long-term debt	$212,878	$224,490
Less current portion	10,000	10,000
Long-term portion	202,878	214,490
Term Loan
Line of Credit Facility [Line Items]
Total long-term debt	72,656	82,500
Revolving Credit Facility
Line of Credit Facility [Line Items]
Total long-term debt	$140,222	$141,990

Longterm_Debt_Future_Minimum_P

Long-term Debt - Future Minimum Payments on Long-term Debt (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]
2015	$7,500
2016	10,000
2017	195,378
Total long-term debt	$212,878	$224,490

Derivatives_Interest_Rate_Swap

Derivatives - Interest Rate Swap (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Dec. 19, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives			$150,000,000
Derivative, Fixed Interest Rate			0.98%
Quarterly reduction of notional amount	50.00%
Interest rate swap (liability)	-325,000
Interest rate asset		573,000
Accumulated other comprehensive income (loss), interest rate swap, tax benefit	($126,000)	$223,000

Derivatives_Foreign_Currency_F

Derivatives - Foreign Currency Forward Contracts (Details)	0 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Feb. 27, 2015	Feb. 27, 2015	Feb. 27, 2015	Feb. 27, 2015
	30 Day Forward Contract EURO	30 Day Forward Contract EURO	30 Day Forward Contract GBP	30 Day Forward Contract GBP
		EUR (€)		GBP (£)
Derivatives, Fair Value [Line Items]
Forward Contract Term	30 days		30 days
Derivative, Notional Amount		€ 309		£ 257

Fair_Value_Measurements_Financ

Fair Value Measurements - Financial Assets and (Liabilities) Carried at Fair Value (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap (liability)	($325,000)
Interest rate swap (asset)			573,000
Fair Value, Measurements, Recurring | Estimate of Fair Value, Fair Value Disclosure
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap (liability)	-325,000	[1]
Interest rate swap (asset)			573,000	[1]
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap (liability)	0	[1]
Interest rate swap (asset)			0	[1]
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap (liability)	-325,000	[1]
Interest rate swap (asset)			573,000	[1]
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap (liability)	0	[1]
Interest rate swap (asset)			$0	[1]
[1]	The fair value of the interest rate swap is determined based on forward yield curves.

Fair_Value_Measurements_Liabil

Fair Value Measurements - Liability Measured on Recurring Basis, Unobservable Input Reconciliation (Details) (Contingent Consideration, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$1,886	$2,526
Fair value adjustments recorded to income during the period	122	11
Contingent payments made	-166	-24
Ending balance	$1,842	$2,513

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value Inputs, Liabilities, Quantitative Information (Details) (Contingent Consideration, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration liability	1,842	$1,886	$2,513	$2,526
Revenue-based Payments
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration liability	1,697
Revenue-based Payments | Income Approach Valuation Technique | Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Probability of milestone payment	90.00%
Revenue-based Payments | Minimum | Income Approach Valuation Technique | Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Discount rate	1.00%
Revenue-based Payments | Maximum | Income Approach Valuation Technique | Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Discount rate	14.00%
Other Payments
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration liability	145
Other Payments | Income Approach Valuation Technique | Fair Value, Inputs, Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Discount rate	5.00%
Probability of milestone payment	100.00%

Fair_Value_Measurements_Narrat

Fair Value Measurements - Narrative (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Asset Impairment Charges	$14,000	$34,000
Other Long-term Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	740,000		803,000
Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	$1,100,000		$1,100,000

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets - Goodwill (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Goodwill [Roll Forward]
Goodwill balance at January 1	$184,464
Effect of foreign exchange	-59
Goodwill balance at March 31	$184,405

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets - Other Intangible Assets (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Other
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$54,108	$53,616
Accumulated Amortization	-23,454	-22,480
Net Carrying Amount	30,654	31,136
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	10,680	10,199
Accumulated Amortization	-2,282	-2,196
Net Carrying Amount	8,398	8,003
Distribution agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	5,626	5,376
Accumulated Amortization	-2,421	-2,285
Net Carrying Amount	3,205	3,091
License agreements and trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	8,869	8,995
Accumulated Amortization	-1,981	-1,823
Net Carrying Amount	6,888	7,172
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	7,253	7,298
Accumulated Amortization	-2,188	-2,079
Net Carrying Amount	5,065	5,219
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,029	1,029
Accumulated Amortization	-696	-636
Net Carrying Amount	333	393
Customer lists
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	20,384	20,452
Accumulated Amortization	-13,619	-13,194
Net Carrying Amount	6,765	7,258
Royalty agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	267	267
Accumulated Amortization	-267	-267
Net Carrying Amount	$0	$0

Goodwill_and_Intangible_Assets4

Goodwill and Intangible Assets - Future Amortization Expense (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2015	$11,101
2016	14,279
2017	13,723
2018	13,147
2019	$12,864

Goodwill_and_Intangible_Assets5

Goodwill and Intangible Assets - Narrative (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impaired, Accumulated Impairment Loss	$8.30
Aggregate amortization expense	$3.60	$3.70