Exactech Announces the Sale of Its Dental Biologic Assets to Salvin Dental Specialties
January 04 2016 - 10:00AM
Business Wire
Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone
and joint restoration products for hip, knee, shoulder and spine,
announced today the sale of substantially all of the assets of its
dental biologics business to Salvin Dental Specialties, through its
Salvin Regenerative subsidiary. Salvin Dental is a privately held
company doing business in more than 100 countries which develops,
manufactures and markets regenerative biomaterials and surgical
instrumentation specifically for implant dentistry. Financial terms
were not disclosed.
“While it has been a pleasure to provide Exactech’s biologic
innovations to the dental market for more than 10 years, we have
made the strategic decision to focus more exclusively on our core
orthopaedic business,” said Exactech’s Senior Vice President and
General Manager of Spine and Biologics Bruce Thompson. “We have
enjoyed a long-standing distribution relationship with Salvin,
which gives us confidence that they will take good care of our
dental customers in their pursuit of improving patient care.”
Exactech’s Dental Biologics Division supplies the dental market
with leading dental biologic products including Optecure® and
Oralife®. Optecure® Dental is an engineered bone graft for
reconstruction and augmentation of deficient maxillary and
mandibular alveolar ridges and dental intraosseous defects.
According to Founder and CEO Bob Salvin, Exactech has an
exciting dental product line and this acquisition will provide
Salvin with additional product depth and manufacturing
capabilities.
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/20160104005223/en/
Exactech, Inc.Investor contactJody Phillips,
352-377-1140Executive Vice President of Finance &Chief
Financial OfficerorMedia contactPriscilla Bennett, 352-377-1140Vice
President, Corporate & Marketing CommunicationorHawk
AssociatesJulie Marshall or Frank Hawkins, 305-451-1888E-mail:
EXAC@hawkassociates.com
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