2. Acquisitions Effective January 1, 2015, the Company acquired Priority Home Health Care, Inc. ("PHHC"), in order to further expand the Company's presence in the State of Ohio. The total consideration for the transaction was comprised of $ 4,250,000 in cash. The related acquisition costs were $ 453,000 and were expensed as incurred. The results of operations from this acquired entity are included in the Company's statement of operations from the date of the acquisition. The Company's acquisition of PHHC has been accounted for in accordance with ASC Topic 805, "Business Combinations," and the resultant goodwill and other intangible assets will be accounted for under ASC Topic 350 " Goodwill and Other Intangible Assets ." The acquisition was recorded at its fair value as of January 1, 2015. The total purchase price is $ 4,250,000 . Under business combination accounting, the total purchase price will be allocated to PHHC's net tangible and identifiable intangible assets based on their estimated fair values. Based upon management's preliminary valuation, the total purchase price has been allocated as follows: Total Goodwill $ 1,908 Identifiable intangible assets 1,930 Accounts receivable (net) 903 Furniture, fixtures and equipment 58 Other current assets 10 Accrued liabilities (339 ) Accounts payable (220 ) Total purchase price allocation $ 4,250 Management's assessment of qualitative factors affecting goodwill for PHHC includes: estimates of market share at the date of purchase, ability to grow in the market, synergy with existing Company operations and the presence of managed care payors in the market. Identifiable intangible assets acquired consist of trade names and trademarks, customer relationships and non-compete agreements. The estimated fair value of identifiable intangible assets was determined by the Company's management. It is anticipated that the net intangible and identifiable intangible assets, including goodwill, are deductible for tax purposes. These estimates are provisional and are subject to chan