Exactech Acquires Australian Distributor
February 01 2016 - 04:11PM
Business Wire
Exactech Australia Becomes Exactech Subsidiary
and Ninth Direct Operation
Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone
and joint restoration products for extremities, knee, hip, spine
and biologics, announced today the acquisition of its independent
distribution partner, Exactech Australia Pty Ltd, effective Feb 1,
2016.
The purchase included all the stock and assets of Exactech
Australia, a Sydney-based importer and distributor of Exactech’s
orthopaedic implants, instrumentation and advanced surgical
technology.
Exactech Vice President of International Sales & Marketing
Daniel Berdat said, “Led by David Bing who will be the operation’s
Managing Director, the Exactech Australia team has proven to be a
profitable growth partner in an attractive market for the past four
years. They were global leaders in the early distribution of our
ExactechGPS® technology for computer assisted surgery and have
developed a strong presence for our hip, knee and shoulder
reconstruction products throughout Australia. Going direct in this
market will allow us to provide even greater service to our
customers and allow us to further invest in our competitive
technologies.”
Exactech Australia has been an important partner to Exactech in
establishing a presence in the Asia Pacific market. This sales and
marketing operation distributes through independent agencies
throughout Australia.
“We are delighted that key members of their existing management
team will stay on as part of the new Exactech subsidiary,” Berdat
said.
With this acquisition, Exactech now has direct operations in
nine global markets with distribution in more than 35
countries.
Terms of the purchase were not disclosed but will be factored
into Exactech’s 2016 guidance to be included in the company’s Q4
2015 earnings release later in February.
About Exactech
Based in Gainesville, Fla., Exactech develops and markets
orthopaedic implant devices, related surgical instruments and
biologic materials and services to hospitals and physicians. The
company manufactures many of its orthopaedic devices at its
Gainesville facility. Exactech’s orthopaedic products are used in
the restoration of bones and joints that have deteriorated as a
result of injury or diseases such as arthritis. Exactech markets
its products in the United States, in addition to more than 30
markets in Europe, Latin America, Asia and the Pacific. Additional
information about Exactech, Inc. can be found at
http://www.exac.com. Copies of Exactech’s press releases, SEC
filings, current price quotes and other valuable information for
investors may be found at http://www.exac.com and
http://www.hawkassociates.com.
An investment profile on Exactech may be found at
http://www.hawkassociates.com/profile/exac.cfm. To receive future
releases in e-mail alerts, sign up at
http://www.hawkassociates.com/about/alert.
This release contains various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which represent
the company’s expectations or beliefs concerning future events of
the company’s financial performance. These forward-looking
statements are further qualified by important factors that could
cause actual results to differ materially from those in the
forward-looking statements. These factors include the effect of
competitive pricing, the company’s dependence on the ability of
third party manufacturers to produce components on a basis which is
cost-effective to the company, market acceptance of the company’s
products and the effects of government regulation. Results actually
achieved may differ materially from expected results included in
these statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201006296/en/
Exactech, Inc.Investor contactsJody Phillips,
352-377-1140Executive Vice President of Finance &Chief
Financial OfficerorHawk AssociatesJulie Marshall or Frank Hawkins,
305-451-1888EXAC@hawkassociates.comorMedia contactPriscilla
Bennett, 352-377-1140Vice President, Corporate & Marketing
Communication
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