Exactech Acquires Industry-Leading Computer-Assisted Surgical Technology Company
January 20 2015 - 8:11AM
Business Wire
Exactech Enhances R&D Competencies, Secures
Exclusive Technology for ExactechGPS® -- Guided Personalized
Surgery System
Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone
and joint restoration products for hip, knee, shoulder and spine,
announced today the acquisition of an industry-leading
computer-assisted surgical technology development and manufacturing
firm, Grenoble France-based BlueOrtho SAS.
Exactech has partnered with BlueOrtho since 2009 to develop
ExactechGPS® Guided Personalized Surgery system, which was
introduced by Exactech in 2010 and fully commercialized in 2014.
ExactechGPS currently supports Exactech’s comprehensive knee
systems with plans to expand its application to other segments of
the company’s portfolio.
According to Exactech Vice President of Engineering and
Development for Large Joints Xavier Sarabia, “This acquisition is a
logical next step in our partnership with BlueOrtho. Exactech is
strategically invested in this technology because we believe it
will become the new standard of patient care in total joint
arthroplasty. BlueOrtho is a very talented, highly motivated group
of professionals who work well with our staff. By welcoming them
officially to the Exactech team, we broaden our engineering
competencies to benefit our planned future developments.”
BlueOrtho was founded by President and CEO Anthony Boyer,
orthopaedic surgeon James Stiehl, MD, and Dr. Stephane Lavallee,
Ph.D., a pioneer in the field of computer assisted surgery.
According to Boyer, “The goal of the partnership between BlueOrtho
and Exactech has been to develop a significant advancement in
technology that improves patient outcomes. Exactech has been an
ideal partner, due to their expertise in mechanical instrument
design and their understanding of clinical issues related to
patient outcomes. We are enthusiastic to build upon this success
under the new structure.”
According to the terms of the agreement, Exactech will pay up to
10 million Euros for the 100% share acquisition with 2 million
Euros paid at the closing on January 15, 2015 and a potential
earnout amount of up to 8 million Euros based on the achievement of
surgical case milestones using the technology. ExactechGPS is an
advanced surgical technology that provides orthopaedic surgeons
real-time visual guidance and alignment data in total joint
arthroplasty. The system features a touch screen and proprietary
camera system within the sterile field, the only of its kind on the
market. Patients around the world have benefited from ExactechGPS.
Through mechanical testing, the technology has demonstrated a high
level of accuracy and precision.
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.
Exactech, Inc.Investor contactsJody Phillips, 352-377-1140Chief
Financial OfficerorHawk AssociatesJulie Marshall or Frank Hawkins,
305-451-1888E-mail: exactech@hawkassociates.comorMedia
contactPriscilla Bennett, 352-377-1140Director Marketing
Communication & Public Relations
Exactech, Inc. (delisted) (NASDAQ:EXAC)
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