Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.21.2
Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table summarizes the changes in the carrying amount of goodwill by segment for the six months ended June 30, 2021 (in thousands):
Clinical Services Pharma Services Total
Balance as of December 31, 2020 $ 179,534  $ 31,549  $ 211,083 
Trapelo acquisition 44,664  —  44,664 
Inivata acquisition 214,563  29,667  244,230 
Balance as of June 30, 2021 $ 438,761  $ 61,216  $ 499,977 
Classes of Intangible Assets
Intangible assets consisted of the following (in thousands):
    June 30, 2021
  Amortization
Period
Cost Accumulated
Amortization
Net
Customer Relationships
7 - 15 years
$ 143,101  $ 40,811  $ 102,290 
Developed Technology
10 - 15 years
322,022  1,167  320,855 
Marketing Assets
4 years
549  32  517 
Trademarks
15 years
31,700  76  31,624 
Trade Name
5 years
2,322  17  2,305 
Trademark - Indefinite lived —  13,447  —  13,447 
Total   $ 513,141  $ 42,103  $ 471,038 
 
    December 31, 2020
  Amortization
Period
Cost Accumulated
Amortization
Net
Customer Relationships
7 - 15 years
$ 143,101  $ 35,895  $ 107,206 
Trademark - Indefinite lived —  13,447  —  13,447 
Total $ 156,548  $ 35,895  $ 120,653 
Schedule of Intangible Asset Amortization Expense The following table summarized the amortization expense for the three and six months ended June 30, 2021 and 2020 (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
Amortization of intangibles included in cost of revenue $ 729  $ —  $ 729  $ — 
Amortization of intangibles included in general and administrative expenses 3,022  2,467 5,480 4,919
Total amortization of intangibles $ 3,751  $ 2,467  $ 6,209  $ 4,919 
Estimated Amortization Expense
The estimated amortization expense related to amortizable intangible assets for each of the following periods as of June 30, 2021 is as follows (in thousands):
 
Remainder of 2021 $ 17,326 
2022 34,650 
2023 34,650 
2024 34,650 
2025 34,549 
Thereafter 301,766 
Total $ 457,591