Exactech (EXAC) Divests Spine Assets, Will Restructure (press release)
GAINESVILLE, Fla.--(BUSINESS WIRE)--With the goals of increasing productivity, enhancing profitability of its worldwide business, and strengthening its focus on core competencies, Exactech, Inc., (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for extremities, hip, knee and spine, has announced the restructuring of its Spine and Biologics business segment including the divestiture of its spine products business and restructuring charges related to international operations. The divestiture was executed through a spine asset sale today to ChoiceSpine, a private enterprise headquartered in Knoxville, TN. Terms of the transaction were not released.
“We’re now in a position to dive deeper into our growth strategy by adding and introducing new distribution and surgeon users to our current and future technologies that we plan to launch over the next few months”
Exactech CEO David Petty said, “For nearly a decade, Exactech has driven innovations in spinal surgery and we are pleased to have made meaningful contributions to patient care. We are confident the transfer of these products to ...
