Note 2. Acquisitions The Company has made strategic acquisitions of local laboratories to achieve greater economies of scale and expand or augment its geographic presence. 2015 Acquisitions On July 15, 2015, the Company acquired the assets of two pathology practices and a billing service, all located in Texas. On October 29, 2015, the Company acquired 100 percent of the equity of a pathology practice in Ohio. The Company paid a combined total of $15.4 million of cash in the aggregate at closing for the two acquisitions and issued contingent notes payable over from three to six years. Payments under the contingent notes will be paid annually, up to a maximum of $11.9 million, subject to the retention of certain key facility contracts, future financial results and the cash received under specified client contracts. The Company used the available cash under its $25.0 million delayed draw term loan to pay the $15.4 million cash portion of the purchase price for the acquisitions. 2016 Acquisition On March 31, 2016, the Company acquired 100 percent of the equity of a hospital-based pathology practice located in Oregon. The Company paid a total of $7.0 million at closing and issued contingent notes payable over three years. Payments under the contingent notes will be paid annually, up to a maximum of $1.5 million, subject to the future financial performance of the acquired practice and the retention of a key facility contract. The Company used the available cash under its $40.0 million delayed draw term loan B to pay the $7.0 million cash portion of the purchase price for the acquisition. As of March 31, 2016, the Company is still analyzing the acquisition and the allocation of the purchase price to the net assets acquired is preliminary and is expected to be finalized by December 31, 2016. The following table summarizes the preliminary estimated aggregate fair value of the assets acquired and liabilities assumed in connection with the March 31, 2016 acquisition (in thousands): Intangible assets $ 5,300 Goodwill 2,800 A