
	Year ended May 31,
(in thousands)	2026		2025		2024
Legal (1)	$	2,012	$	715	$	34,942
Mergers and acquisitions (2)	—		737		399
Transition service agreement (3)	(1,540)		(1,838)		(1,092)
Plant Closure (4)	13,119		13,761		9,481
Manufacturing Relocation (5)	—		—		587
Intangible and other asset impairment (6)	—		—		6,260
CEO Transition (7)	1,629		—		—
Other (8)	2,378		2,245		2,605
Total	$	17,598	$	15,620	$	53,182

(1) Legal expenses related to litigation that is outside the normal course of business. For the year ended May 31, 2024, a $19.3 million settlement expense was recorded as a result of the Settlement Agreement that was entered into between the Company and BD.

(4) Plant closure expense, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024.

(6) An impairment of $3.4 million on intangible and fixed assets and an inventory write-off of $2.9 million was taken in the third quarter of fiscal year 2024 relating to the abandonment of the Syntrax and RF product lines.

(7) CEO retirement and transition expenses related to the CEO search and retention agreements with the Company's executive leadership team.

(8) Included in the $2.4 million, $2.2 million and $2.6 million for the years ended May 31, 2026, 2025 and 2024 is $0.7 million, $0.9 million and $1.4 million, respectively, of severance due to restructurings outside of the plant closure. In addition, for the year ended May 31, 2024, $0.9 million of deferred financing fees that were written-off in conjunction with the divestiture of the Dialysis and BioSentry businesses and concurrent extinguishment of the debt.

The Company evaluates its performance and looks for opportunities to improve the overall operations of the Company on an ongoing basis. As a result of this evaluation, certain restructuring initiatives are taken to enhance the Company’s overall operations. On January 5, 2024, the Company announced a restructuring to optimize its manufacturing efficiency, capabilities and footprint (the "Plan").

In the second quarter of fiscal year 2025, the Company announced a modification to the Plan to maintain a presence in Queensbury, NY for the manufacturing of select products, customer service, logistics, shipping, quality and regulatory operations. The restructuring activities associated with the modified Plan are expected to be completed in the first quarter of fiscal year 2027.


Type of cost (in thousands)	Total modified estimated amount expected to be incurred
Facilities closeout fees (1)		$	16,000	to	$	17,000
Termination benefits		6,200		to	7,200
Outside consultants		7,500		to	8,500
Validation expenses		3,400		to	4,400
Regulatory filings		150		to	650
Other		150		to	650
		$	33,400	to	$	38,400

(1) Included in the original and modified estimate is approximately $13.6 million and $13.3 million of non-cash charges for accelerated depreciation and building impairment.

The Company recorded restructuring charges related to the Plan during the years ended May 31, 2026, 2025 and 2024 of $13.1 million, $13.8 million and $9.5 million respectively. Total restructuring charges recorded to date are $36.4 million.

Termination benefits are only earned if an employee stays until their termination date; therefore, the expenses related to termination benefits are being recorded ratably over the service period.


	May 31, 2026
	Termination Benefits		Outside Consultants		Validation Expenses		Facilities Closeout Fees		Regulatory Filings		Other		Total
(in thousands)
Balance at May 31, 2025	$	629	$	622	$	86	$	—	$	—	$	166	$	1,503
Charges	$	1,883	$	5,795	$	1,375	$	337	$	60	$	3,669	$	13,119
Non-cash adjustments	$	—	$	—	$	—	$	(337)	$	—	$	—	$	(337)
Cash payments	$	(1,928)	$	(5,823)	$	(1,368)	$	—	$	(60)	$	(2,780)	$	(11,959)
Balance at May 31, 2026	$	584	$	594	$	93	$	—	$	—	$	1,055	$	2,326