Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy at period end:
 Fair Value Measurements at December 31, 2021
 TotalLevel 1Level 2Level 3
(in thousands)
Liabilities
Madryn put option liability$703 $— $— $703 
$703 $— $— $703 
 Fair Value Measurements at December 31, 2020
 TotalLevel 1Level 2Level 3
(in thousands)
Liabilities
Madryn put option liability$1,440 $— $— $1,440 
$1,440 $— $— $1,440 
Fair Value Measurement Inputs and Valuation Techniques
The Company used the following assumptions to value Madryn derivatives:
Madryn Put Option Liability
December 31,
20212020
Interest rate volatility25.8%19.7%
Market yield rate6.8%7.9%
Term (in years)3.754.82
Dividend yield—%—%
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows:
Acquisition-related Contingent ConsiderationPut Option Liability
Balance at December 31, 2019$922 $3,072 
Change in fair value(304)(1,632)
Settlement(618)— 
Balance at December 31, 2020— 1,440 
Change in fair value— (737)
Balance at December 31, 2021$— $703