Annual report pursuant to Section 13 and 15(d)

TRANSFER OF PLASMA CENTER ASSETS

v3.21.1
TRANSFER OF PLASMA CENTER ASSETS
12 Months Ended
Dec. 31, 2020
TRANSFER OF PLASMA CENTER ASSETS  
3. TRANSFER OF PLASMA CENTER ASSETS

3. TRANSFER OF PLASMA CENTER ASSETS

 

As part of the purchase price for the Biotest Transaction (see Note 1), the Company transferred its Marietta, GA and Norcross, GA plasma collection centers to BPC effective January 1, 2019. The Company had estimated the combined fair value of the two facilities to be $12.6 million, and the Company recorded an obligation for this amount as of the date of the Biotest Transaction. On January 1, 2019, upon the transfer of the two plasma collection facilities to BPC, the Company recorded a gain in the amount of $11.5 million, which reflects the derecognition of the obligation to transfer ownership of the two facilities net of the carrying value of the assets associated with these facilities, primarily property and equipment and inventory, in the amount of $1.1 million.